Dennis Norman
Zip Realty’s “Home Hunter” Report for 4th quarter 2009 shows some housing markets heating up.
Dennis Norman
While some of the “hottest” real estate markets in the country — those where homes are selling most above their list prices — continue to be distressed areas dominated by heavily discounted prices, a report issued by ZipRealty revealed some notable exceptions. In two higher priced ZIP codes in California’s Berkeley and the Los Angeles suburb of Tarzana, and three ZIP codes in the greater Dallas – Fort Worth area not dominated by distressed listings, homes sold on average well above asking price in the last quarter of 2009 according to the ZipRealty Home Hunter Report.
Another interesting tidbit in the report was that Phoenix is the city with the most searches for homes online throughout 2009.
Other highlights from the report include:
- Homes in Berkeley, California’s 94703 zip sold for an average of 107.86 percent of list price in the 4th quarter of 2009. The average home sale price was $538,626 for the period.
- Homes in the Tarzana district of Los Angeles, California’s 91356 zip sold for an average of 107.30 percent of list price in the 4th quarter of 2009 with an average sale price of $653,722 for the period.
- Texas claimed three of the country’s “hottest” markets in the 4th quarter for the first time.
- Homes in Fort Worth’s 76135 sold for an average of 134.65 percent of asking price.
- Homes in the upscale Dallas bedroom community of Rowlett (75089) commanded on average 110.81 percent of asking
price. - Homes in 76001 in Arlington, Fort Worth’s largest suburb, also entered the top ten list this quarter.
- All of the five remaining cities on the Top 10 “Hottest Markets” list are located in California, including: Sacramento (95832); San Lorenzo (94580); Oakland (94621); Palmdale (93591); and San Bernardino (92405).
On the cold end of the spectrum, Florida ZIP codes continue to dominate those areas selling at a discount, where sellers are accepting on average 70 to 85 cents on the dollar. Florida ZIP codes selling most below asking price based on sales-to-list price ratio include: Deland (32720); Orlando (32827); Largo (33773); Delray Beach (33483); Naples (34102); Miami’s Coral Gables (33134); and Boca Raton (33496). ZIP codes 75203 in Dallas, 19132 in Philadelphia and 60022 in Glencoe, Ill., join the Florida ZIP codes as the country’s coldest.
“For more than a year now we’ve been seeing distressed areas with heavily discounted properties dominate the ‘hot’ markets where homes fetch more than the asking price, and it’s a great sign that we’re now starting to see higher-priced areas going over asking price, too,” said Leslie Tyler, vice president and chief home hunter for ZipRealty. “These hot micro-markets across California and Dallas – Fort Worth point to the continued stabilization happening in different areas nationwide.”
Source: Zip Realty
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
I can’t believe that some market’s asking price is that high! I would love it if homes in Phoenix would sell for those prices. Houses down here are still on the decline. Housing and mortgages are still extremely low. Hopefully we will see a recovery, and see it soon!
Thanks for your article.I’m planning to learn many methods to make money with supporting outsourcing services. Outsourcing Services, such as IT Outsourcing,Web Development Outsourcing Services. I got some information about the Outsourcing from this article and is useful to me.Tks again.
When will the home prices rise in Deltona,fl,for we were stupid and bought our home in Deltona,fl in 11/05,not realising this was terrible place to live,then my husband said he would take car of everything which I now know as stupid to let him do,for we payed to much for area,and put to much down,we hate area,neighbors,an dstate an dnow feel doomed,for it is affecting my health,and can’t sell for we need to make money off house to move back north,where homes have not come down that much? Need to kind of have some kind of hope to know maybe when the prices will rise here,so we can sell and make a profit so we can run,from here,fast. Never to return?
Hi Carol, sorry to hear about your difficulties since moving to Florida. I live in South Florida and while I’m not terribly familiar with Deltona, many in the industry agree that we’ll some more decline across the state before we see solid appreciation again. I’d suggest meeting with a realtor to find out the recent comparable sales within 1-3 miles of your home so you can truly understand where things are and make some decisions. Wishing you the best.
moderator comment – be sure to check out Shae’s Real Estate Investor Blog at http://www.GoodFaithInvesting.com