Photo from Redfin.com
Whether it’s investors looking for a bungalow to flip or young couples searching for low-priced alternatives to Echo Park and Silver Lake, buyers know house hunting is tough in Northeast L.A. And it looks like the competition will only get more fierce this year, according to Redfin. The online broker predicts that Eagle Rock, Glassell Park and Highland Park will emerge as among the nation’s 10 hottest neighborhoods in 2013 when it comes to real estate activity. In fact, Highland Park topped the list, which includes Logan Square in Chicago, The Mission District in San Francisco and North Maple Leaf in Seattle.
After asking its agents to identify the three hottest neighborhoods in major metropolitan areas, Redfin then analyzed statistics and trends at the end of last year to identify what are expected to be the 10 hottest neighborhood in 2013. Refin CEO Glenn Kelman said that the 10 hottest neighborhoods share some common traits that go beyond real estate sales stats:
“They’re once-gritty urban areas and far-flung suburbs with school districts on the rise. This is the surest sign that the recovery is broadening, and that home-buyers are venturing out to once-marginal areas hit hard when the bubble burst.”
The chart below includes the neighborhood rankings and their year-over-year performance for number of listings, number of sales and price.