No surprise to those of us living and working on the Eastside every day, but here’s a story you can send to your family and friends back home after they visit and say they “just don’t get why you would want to live here, it’s so scary-looking!”. I, too, have been in the unfortunate position of having to defend my former neighborhood to out-of-town guests (and by out-of-town, I mean those coming from west of La Brea).
I would argue that Highland Park has “up and come” a long time ago, but it seems the media and national real estate sites are just catching on to the Eastside influx. As I’ve mentioned in previous posts, I see El Sereno, Cypress Park, Tujunga, and Altadena getting some well-deserved action and predict that these relatively unexploited areas will soon have their day in the spotlight. First-time buyers can still snag a great house in any of these neighborhoods for $350K or so, which was about the median sales price for Highland Park way back in 2003.
Yesterday, Redfin released its list of the 10 US neighborhoods that will be most “up-and-coming” in 2013. They polled their brokers, then “dove into the data to narrow down their suggestions, looking at “how each area’s market was trending at the end of 2012 in four categories: on-market listings, sales volume, median price per square foot, and sale-to-list ratio … The hottest neighborhoods are all seeing shrinking selection, increasing sales, and increasing prices–often at rates far above the metro areas that contain them.”
California dominated the top 10 (with eight neighborhoods), and Los Angeles was especially strong: we already knew that Highland Park is so hot it’s practically over, but it’s nice to see it confirmed with data–the ‘hood ranked number one on the list. Eagle Rock and Glassell Park also made the top 10.
Image courtesy Redfin.com / Story courtesy CurbedLA
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About Elise Knepper:
Elise Knepper is an award-winning Realtor specializing in gorgeous homes from the Hollywood Hills to Pasadena. With over a decade of experience serving buyers and sellers, she covers the LA real estate market for Examiner.com, loves exploring the city's neighborhoods, historic architecture, and all things design.