SANTA CLARA, Calif.,
Feb. 13, 2017 /PRNewswire/
-- Realtor.com®, a leading online real estate destination
operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV]
subsidiary Move, Inc., today announced America's top suburban
hotspots, led by Northeast/Montbello, Colo. (a suburb of
Denver); Wylie/St. Paul,
Texas (a suburb of Dallas);
and Dublin/Dougherty, Calif. (a suburb of San Francisco). Fueled by escalating prices
and demand in their surrounding urban areas, each 'burb on the list
has become a hub for increasing prices, fast home sales, and tough
competition among buyers.
"Suburbs are traditionally viewed as meccas for young families,
willing to trade in shorter commute times and urban nightlife for
better schools and larger homes," said Jonathan Smoke, chief economist. "But the
relationship between the suburbs and urban areas is far more
intertwined. In recent years, rising home prices and inventory
shortages in urban centers have made affordable suburban home
prices more appealing for buyers. Our analysis indicates 50 percent
of buyers planning to purchase a home this spring indicated they
preferred a home in the suburbs."
To create this list, realtor.com® classified ZIP codes in the
nation's 50 largest metropolitan areas as either suburban or urban,
based on household densities. Suburbs were then ranked based on a
combined score of household growth, listing price growth and
housing supply and demand.
Housing Dynamics in the Top 10 Suburban Hotspots
Two
critical factors driving the popularity of these hotspots are close
proximity to thriving urban centers and strong household growth.
The suburbs on the list are located just outside urban centers that
are 20 percent hotter than the average metro, where homes are
viewed 1.4 more times than the average home included in the study.
Additionally, these suburban hotspots have seen an average of 18.8
percent household growth over the last seven years, which is 2.4
and 2.8 times more growth than other suburban and urban
neighborhoods, respectively.
As a result, these suburbs rank in the top 8 percent of hottest
ZIP codes in the country and homes in these areas received 1.6
times more views on realtor.com® than the typical home in the
study. Listings sell 11 days and 9 days faster than other suburban
and urban areas, respectively. Homes also receive 1.3 times more
views on realtor.com® than other suburban and urban neighborhoods
in the area. Listing prices have seen an average of 16.9 percent
growth, annually, over the last three years. Additionally, homes
sell 2.5 and 1.9 times faster than all other suburban and urban
neighborhoods, respectively.
Realtor.com®'s Top
10 Suburban Hotspots
|
|
Ranking
|
Neighborhood
|
ZIP
Code
|
Metro
Area
|
1.
|
Northeast/Montbello
|
80239
|
Denver-Aurora-Lakewood
|
2.
|
Wylie/St.
Paul
|
75098
|
Dallas-Fort
Worth-Arlington
|
3.
|
Dublin/Dougherty
|
94568
|
San
Francisco-Oakland-Hayward
|
4.
|
Daffan/Hornsby
Bend
|
78724
|
Austin-Round Rock,
Texas
|
5.
|
Orient Park/Palm
River-Clair Mel/Progress Village
|
33619
|
Tampa-St.
Petersburg-Clearwater, Fla.
|
6.
|
Vista East/Vista
Park
|
32829
|
Orlando-Kissimmee-Sanford, Fla.
|
7.
|
Cutler Bay/Lakes by
the Bay
|
33189
|
Miami-Fort
Lauderdale-West Palm Beach, Fla.
|
8.
|
Milpitas
|
95035
|
San
Jose-Sunnyvale-Santa Clara, Calif.
|
9.
|
Williamsburg/Waterhill/White
Haven/Blackman
|
37129
|
Nashville-Davidson-Murfreesboro-Franklin,
Tenn.
|
10.
|
Friendship/Apex
|
27502
|
Raleigh,
N.C.
|
**See appendix 1
for expanded list.
|
Realtor.com®'s Top 10 Suburban
Hotspots
1. Northeast/Montbello, Denver,
Colo. – 80239
Metro: Denver-Aurora-Lakewood
This up-and-coming
neighborhood sits northeast of Denver and comprises a small part of Rocky
Mountain Arsenal National Wildlife Refuge. It is home to a busy
commercial warehouse district and offers some of the most
affordable homes in close proximity to Denver. It is centrally
located near Denver International
Airport, as well as I-70 and I-225. Properties in this area spent
19 days on the market, on average, in 2016, which is 40 days less
than the typical property in the study. Homes in the area received
1.7 times more views on realtor.com® than the typical home. Prices
in this 'burb grew 20.6 percent annually over the last three
years.
2. Wylie/St. Paul, Texas – 75098
Metro:
Dallas-Fort Worth-Arlington
The community of Wylie/St.
Paul is a mix of first-time home buyers, young families, as
well as established professionals. The area is booming with new
construction that's being scooped up by home buyers. The two lakes
in the area – Lavon Lake and Lake
Ray Hubbard – are a big draw for the area; many residents enjoy
fishing or boating during the weekends. A new college campus –
Collin College – is being built
which is expected to draw even more young people to the area and is
expected to be finished by 2020. A typical property within this
'burb spent 41 days on the market, 18 days less than the typical
property in the study. Homes in Wylie received 2.4 times more views
on realtor.com® than a typical home. The listing price of
properties in this ZIP code grew 18.7 percent annually over the
last three years.
3. Dublin/Dougherty, Calif. – 94568
Metro:
San Francisco-Oakland-Hayward
This is a Bay Area suburb, is
located south of Oakland and east
of Hayward. Due to the higher
costs of the Bay Area, it is predominantly made up of upper-middle
class families that are first-time home owners. Many of the
residents are computer engineers that are attracted to the more
affordable cost of living, as compared to Silicon Valley. It boasts
a great school system that includes Dublin High School and six
other schools that were rated 10/10. The number of households in
this neighborhood grew by 25.6 percent between 2010 and 2017 and
the area ranked No. 2 in growth of all the ZIPs in the San Francisco metro area. This suburb was
ranked No. 7 in hottest scores for the San Francisco metro area. A typical property
within this 'burb spent 24 days on the market in 2016, 35 days less
than the typical property and received 2.1 times more views than
the rate of the study.
4. Daffan/Hornsby Bend, Texas
– 78724
Metro: Austin-Round Rock
This suburb sits just
east of Austin, and includes Walter E. Long
Lake. The area hosts both the Travis County Exposition
Center and the Rodeo Austin, home to Austin's Rodeo, Fair and Stock
Show. Many first-time buyers are attracted to this up-and-coming
area for the affordable housing and its close proximity to downtown
Austin. A typical property within this 'burb spent 45 days on the
market, 14 days less than the typical property in the study. The
listing price of properties in this area grew 27.1 percent annually
over the last three years, placing this neighborhood second on the
list of ZIPs with the highest price growth in the Austin metro
area.
5. Orient Park/Progress Village/Palm River-Clair Mel, Fla. –
33619
Metro: Tampa-St.
Petersburg-Clearwater
This working-class suburb is
located between Tampa and Brandon. The area attracts many
first-time buyers and young families because of the affordable
housing options and endless sunshine. Many of the residents in this
suburb commute to either Tampa or
Brandon for work daily. A typical
property within this suburb spent 47 days on the market in 2016, 12
days less than the typical property in the study. The listing price
of properties in this 'burb grew at an annualized rate of 19.8
percent over the last three years.
6. Vista East/Vista Park, Fla. – 32829
Metro:
Orlando-Kissimmee-Sanford,
Fla.
Vista East/Vista Park is a suburb that is
located southeast of Orlando, less
than 10 miles away from Orlando
International Airport. It is a diverse area in close proximity to
shopping plazas, restaurants and fitness centers that attracts
buyers looking for newly built homes. The area also attracts people
with an active lifestyle because of a plethora of hiking trails,
lakes and a short commute to the ocean. Many of the U.S.'s best
theme parks are also right down the road, with Disney World and
Universal within a 30 minute drive. The listing price of properties
in this suburb grew 13.8 percent annually between 2013 and
2016.
7. Cutler Bay/Lakes by the Bay – 33189
Metro:
Miami-Fort Lauderdale-West
Palm Beach, Fla.
This community sits just south of
Miami and north of the Florida
Keys. It's a middle-class suburb that attracts mainly first-time
buyers and young families, as well as "snowbirds" from the Northern
states. Many houses in the area are located in either gated
communities or sit on lakes, while all are only steps away from the
beach. The number of households in this neighborhood grew by 12.3
percent between 2010 and 2017. A typical property within this
suburb spent 50 days on the market in 2016, nine days less than the
typical property in the study. The listing price of properties in
this suburb grew 16.3 percent annually over the last three
years.
8. Milpitas, Calif. –
95035
Metro: San
Jose-Sunnyvale-Santa Clara, Calif.
Milpitas is a suburb just north of
San Jose, close to the
southernmost tip of the Bay. A high performing school system,
including John Sinnott Elementary School, ranked 10/10, creates a
very strong draw to the area for upper-middle-class established
professionals with families who work in the tech industry. New
construction is booming in this area to facilitate the
ever-increasing demand for Silicon Valley housing. The number of
households in this neighborhood grew by 15.5 percent between 2010
and 2017 and the Milpitas area
ranked third of 28 urban and suburban ZIPs in the San Jose metro area. A typical property
within this suburb spent 23 days on the market, 36 days less than
the typical property in the study. The listing price of properties
in this suburb grew 12.8 percent annually between 2013 and
2016.
9. Williamsburg/Waterhill/White Haven/Blackman,
Tenn. – 37129
Metro: Nashville-Davidson-Murfreesboro-Franklin, Tenn.
This suburb sits
southeast of "Music City" and includes part of the Fall Creek
recreation area. The area is home to a middle-class community on
the rise. Many first-time buyers are attracted to the area because
of the moderate home prices, as compared to Nashville real estate.
This community sits next to the Nashville Superspeedway and is an
easy drive to downtown Nashville
for those looking for nightlife. The number of households in this
neighborhood grew by 16.3 percent between 2010 and 2017. A typical
property within this suburb spent 34 days on the market in 2016, 25
days less than the typical property in the study. The listing price
of properties in this suburb grew 14.0 percent over the last three
years, annually.
10. Friendship/Apex, N.C. – 27502
Metro:
Raleigh, N.C.
The
Apex/Friendship area is a suburb just west of Raleigh. It is currently booming with new
construction due to the large numbers of people flocking to the
area. Many of those attracted to the area are young professionals
drawn to the strong job market, affordable housing and the overall
quality of life, including a strong school system. Three
universities in the area add to the area's younger demographic. The
number of households in this neighborhood grew by 25.2 percent
between 2010 and 2017. A typical property within this suburb spent
41 days on the market in 2016, 18 days less than the typical
property in the study. The listing price of properties in this
suburb grew at an annualized rate of 11.6 percent between 2013 and
2016.
Methodology:
Realtor.com® classified ZIP codes in the
nation's 50 largest metropolitan areas as suburban or urban based
on their household densities. The remaining ZIP codes were
classified as either rural or town and excluded from this analysis.
Household growth data is based on Nielsen estimates of ZIP
code-level growth between 2010 and 2017 and listing price growth
was derived from realtor.com®'s listing database for properties
from 2013 to the end of 2016. The hotness scores examined were
derived from realtor.com®'s Market Hotness Index, which combines
listing view counts and days spent on the market to rank ZIP codes
relative to the rest of the country. One ZIP code was included for
each metropolitan area.
Appendix 1:
Expanded List of Realtor.com®'s Top 20 Suburban
Hotspots
|
|
Ranking
|
Neighborhood
|
ZIP
Code
|
Metro
Area
|
Household
Growth
|
Days on
Market
|
Price
Growth
|
1.
|
Northeast/Montbello
|
80239
|
Denver-Aurora-Lakewood
|
17.1%
|
19 days
|
20.6%
|
2.
|
Wylie/St.
Paul
|
75098
|
Dallas-Fort
Worth-Arlington
|
19.8%
|
41 days
|
18.7%
|
3.
|
Dublin/Dougherty
|
94568
|
San
Francisco-Oakland-Hayward
|
25.6%
|
24 days
|
14.1%
|
4.
|
Daffan/Hornsby
Bend
|
78724
|
Austin-Round
Rock
|
19.8%
|
45 days
|
27.1%
|
5.
|
Orient Park/Palm
River-Clair Mel/Progress Village
|
33619
|
Tampa-St.
Petersburg-Clearwater
|
15.2%
|
47 days
|
19.8%
|
6.
|
Vista East/Vista Park
|
32829
|
Orlando-Kissimmee-Sanford
|
20.9%
|
46 days
|
13.8%
|
7.
|
Cutler Bay/Lakes by
the Bay
|
33189
|
Miami-Fort
Lauderdale-West Palm Beach
|
12.3%
|
50 days
|
16.3%
|
8.
|
Milpitas
|
95035
|
San
Jose-Sunnyvale-Santa Clara
|
15.5%
|
23 days
|
12.8%
|
9.
|
Williamsburg/Waterhill/White
Haven/Blackman
|
37129
|
Nashville-Davidson-Murfreesboro-Franklin
|
16.3%
|
34 days
|
14.0%
|
10.
|
Friendship/Apex
|
27502
|
Raleigh
|
25.2%
|
41 days
|
11.6%
|
11.
|
Eastlake
Greens
|
91915
|
San
Diego-Carlsbad
|
20.4%
|
35 days
|
11.2%
|
12.
|
Wildwoods/Allen/Mint
Hill
|
28227
|
Charlotte-Concord-Gastonia
|
13.9%
|
55 days
|
18.9%
|
13.
|
New Albany
|
43054
|
Columbus,
Ohio
|
23.3%
|
67 days
|
17.4%
|
14.
|
Arabi
|
70032
|
New
Orleans-Metairie
|
28.6%
|
50 days
|
22.2%
|
15.
|
Landover-Sharmel/Burton Evergreen/Countryside
Woods/Fircrest
|
98684
|
Portland-Vancouver-Hillsboro
|
11.5%
|
33 days
|
13.5%
|
16.
|
Klahanie/Issaquah
Highlands/Providence Point
|
98029
|
Seattle-Tacoma-Bellevue
|
19.4%
|
25 days
|
15.3%
|
17.
|
South Mountain
Village
|
85040
|
Phoenix-Mesa-Scottsdale
|
11.2%
|
32 days
|
14.0%
|
18.
|
Novi
|
48377
|
Detroit-Warren-Dearborn
|
11.8%
|
39 days
|
11.7%
|
19.
|
Gardner
|
66030
|
Kansas City,
Mo.
|
17.2%
|
40 days
|
10.3%
|
20.
|
Castroville
|
78009
|
San Antonio-New
Braunfels, Texas
|
12.9%
|
46 days
|
15.8%
|
About realtor.com®
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REALTORS®. For more information, visit realtor.com®.
Media Contact:
Realtor.com®
Lexie Puckett Holbert –
lexie.puckett@move.com
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SOURCE realtor.com