Realtor.com Ranks Top 10 Suburban Hotspots
Northeast/Montbello, Colo., is Number One
Realtor.com has released a list of America's top 10 suburban hotspots, based on how much home prices increased over the last three years, how quickly houses sold, and the number of views each 'burb generated on its website, among other factors.
The firm has ranked Northeast/Montbello, Colo., northeast of Denver, as its top suburb. Homes there stayed on the market an average of 19 days in 2016, or 40 days less than the typical property in its study. Homes received 1.7 times more views on realtor.com than the typical home, and prices grew 20.6 percent annually over the last three years.
"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 for realtor.com. "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."
In second place is Wylie/St. Paul, Texas, a suburb of Dallas. A typical home was on the market 41 days on average, 18 days less than the typical property in the study. Homes received 2.4 times more views on realtor.com than a typical home, and list prices grew 18.7 percent annually over the last three years.
Dublin/Dougherty, Calif., near the Bay Area cities of San Francisco, Oakland and Hayward, was ranked third. A house in this suburb was on the market an average of 24 days, or 35 days less than a typical property in the study, and received 2.1 times more views.
Fourth was Daffan/Hornsby Bend, Texas, near Austin and Round Rock. Homes there spent 45 days on the market, 14 days less than a typical property on realtor.com. Prices increased 27.1 percent annually over the last three years.
Orient Park/Progress Village, Fla., near Tampa, St. Petersburg and Clearwater, was fifth. A typical home was on the market 47 days in 2016, or 12 days less than properties in the study. Prices grew at an annual rate of 19.8 percent over the last three years.
Suburbs ranked sixth through tenth are as follows:
6) Vista East/Vista Park, Fla., a suburb of Orlando, Kissimmee and Sanford.
7) Cutler Bay/Lakes by the Bay, Fla., near Miami, Fort Lauderdale and West Palm Beach.
8) Milpitas, Calif., a suburb of San Jose, Sunnyvale and Santa Clara, Calif.
9) Williamsburg/Waterhill, Tenn., near Nashville.
10) Friendship/Apex, N.C., a suburb of Raleigh.