Neighborhood Revitalization Watchlist: Zip Codes With Accelerating Sales Growth

Identifying neighborhoods poised for growth is crucial for savvy real estate investors and homeowners alike. This data-driven analysis pinpoints zip codes exhibiting accelerating sales growth and rising median prices, signaling potential revitalization and future appreciation. We delve into key metrics to uncover these emerging hotspots.

Understanding the Metrics

Several factors contribute to a neighborhood's revitalization. We focus on:

• Median Sale Price: Reflects the typical price point of homes sold in the area.
• Homes Sold: Indicates the volume of transactions, a key sign of market activity.
• Inventory: The number of homes currently available for sale.
• Days on Market: The average time it takes for a home to sell, reflecting demand.

New York Real Estate Market Analysis

Let's start with New York. In the zip code 11962, the median sale price is a staggering $15,500,000. However, only 1 home was sold, and the inventory stands at 2. The median days on market is 82 days. This suggests a very high-end market with limited activity. For a broader perspective, check out this neighborhood zip analysis.

Another New York zip code, 10964, shows a median sale price of $13,425,000 with 2 homes sold and an inventory of 4. The median days on market is 76.5 days. This indicates a similar high-end market, but with slightly more activity than 11962. The sales neighborhoods analysis can provide further insights into market dynamics.

Zip code 12970 in New York has a median sale price of $12,939,000, with 1 home sold and an inventory of 5. The median days on market data is not available. The absence of this data point makes it difficult to fully assess the market's speed and demand. Zip code 11975 shows a median sale price of $8,700,000, with 1 home sold and an inventory of 5. The median days on market is 202 days, indicating a slower pace compared to the other New York zip codes.

California Real Estate Market Analysis

Moving to California, we see a different landscape. In zip code 94074, the median sale price is $14,500,000, with only 1 home sold. The inventory data is not available, and the median days on market is a lengthy 376 days. This suggests a very slow-moving, high-end market. Understanding zip codes analysis is crucial in such scenarios.

Zip code 93920 in California has a median sale price of $12,809,000, with 2 homes sold and an inventory of 8. The median days on market is 108 days. This indicates a more active market compared to 94074, but still relatively high-end. Zip code 95071 shows a median sale price of $8,500,000, with 1 home sold. The inventory data is not available, and the median days on market is a very quick 6 days, suggesting high demand. Zip code 90264 has a median sale price of $8,480,000, with 2 homes sold. The inventory data is not available, and the median days on market is 98 days. Zip code 93435 has a median sale price of $8,400,000, with 1 home sold. The inventory data is not available, and the median days on market is a very long 857 days, indicating a slow-moving market.

Florida Real Estate Market Analysis

In Florida, zip code 33921 has a median sale price of $13,450,000, with 3 homes sold and an inventory of 24. The median days on market is 304.5 days. This suggests a more balanced market compared to the high-end zip codes in New York and California, with more inventory and sales activity. Further neighborhood accelerating analysis can reveal underlying trends.

Comparative Analysis

Comparing these markets, we see significant differences. The New York zip code 11962, with a median sale price of $15,500,000 and only 1 home sold, contrasts sharply with the Florida zip code 33921, which has a median sale price of $13,450,000 but 3 homes sold and an inventory of 24. This highlights the varying dynamics of luxury markets versus more active, albeit still high-end, markets. The California zip code 95071, with a median sale price of $8,500,000 and a median days on market of just 6 days, indicates a very hot market with high demand, despite the limited data available on inventory.

Key Takeaways

This analysis reveals that while high median sale prices can indicate potential revitalization, it's crucial to consider other factors such as homes sold, inventory, and days on market. A high median price with low sales volume and high days on market may suggest a stagnant market, while a high median price with quick sales and low inventory points to high demand and potential for further growth. The absence of inventory data in several California zip codes makes it difficult to fully assess the market conditions. Further investigation into these areas is warranted to gain a more comprehensive understanding.

Conclusion

Identifying neighborhoods with accelerating sales growth requires a holistic approach, considering multiple data points and local market conditions. While the zip codes highlighted in this analysis show potential for revitalization, further research and due diligence are essential before making any investment decisions. Understanding the nuances of each market, from the luxury enclaves of New York to the active markets of Florida and the varied landscapes of California, is key to unlocking real estate opportunities. For more insights into neighborhoods growth analysis, explore our other data-driven reports.