Today we issued our February 2007 Trulia Trends report, a monthly snapshot of what consumers are searching for on trulia.com and real estate trends.
This month’s Trulia Trends identifies the top five most popular ski resort towns favored by mountain lovers across the country (graphic above). It also lists the biggest movers and shakers across the U.S.–both in terms of search behavior and list prices. And new this month, Trulia Trends introduces a “spotlight on…” section, an up close look at real estate in one city every month. Big surprise, our launch city is beautiful San Francisco.
Interesting findings:
- From July 06 - Jan 07, search traffic for ski resort locations increased 2.37x above all searches on Trulia. Best time to buy a home in the snow? If home buyers want to beat the rush, Trulia search data shows that July is best.
- The eastern half of the U.S. saw the biggest percentage gains in overall search queries. The sole New York entry on the top ten list was Queens, NY, indicating that the increase of development in the borough has been met with an increase of consumer interest.
- The representative U.S. home shopper on Trulia is looking for a 2,075 square-foot single-family home with 3.2 bedrooms and 2.2 baths at a cost of $479,254.
- Second home shopping season: seaside communities in locations as diverse as New Jersey and Florida were popular with home shoppers in January.
- Old is new again? Resale properties in Phoenix and neighboring Gilbert, AZ experienced price appreciation above 5%, despite competition from extensive new development in these regions.
- Keep an eye on Ohio: Akron, OH was tenth on the list of “biggest risers” in search queries and saw the second largest price increase during January.
In our “Spotlight on San Francisco”, we identify the 10 neighborhoods that are the biggest risers and biggest fallers in terms of search behavior.
San Francisco homes averaged $1.07mm on Trulia in January. Two of the top five neighborhood risers–Sunnyside and Bernal Heights–underscore that home shoppers were looking to obtain San Francisco’s style with out its notorious spend. With an average list price of $792,530, the Sunnyside neighborhood continues its path to SF’s next hot spot. And Bernal Heights views are still priced at a discount, with average list prices at $794,313.
Thanks again to Jonathan Miller at the Matrix for his help creating this report.
Download the full report here.
Popularity: 2% [?]
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February 15th, 2009 at 10:02 am
Obviously a lot has changed since this initial post. Ski resorts indeed became vulnerable to the recession in 2009 as sales data dropped considerably. Which leads us to the question, “What is next?”
Americans willl significantly downsize their seond home expectations and start looking for “substitutes”. The economic law of substitution will take hold and they will downshift toward resorts that have lower housing costs.
We conducted research all across the Rocky Mountains and the lowest priced real estate where there is both a ski resort and 18 hole golf course is Red Lodge, Montana.