Trulia Trends report: May 2007

This month’s Trulia Trends report (PDF) noted some significant changes in the “hottest cities” for real estate across the U.S.

Since we launched the Trulia Trends Report in January, Manhattan has been unbeatable as the nation’s #1 hottest city. Well, in April, the Windy City blew “the City” out of the lead and into the number two spot; Orlando, FL and Queens, NY returned to the top ten list replacing Washington, DC and Austin, TX.

Despite Manhattan’s drop, NYC still reigns supreme with three boroughs—Manhattan, Queens and Brooklyn—all in the top ten. Whether it is Wall Street bonuses, low unemployment rates or something else, home buyers are clearly still on the hunt in NYC.

Of the top 10 most viewed properties, here are some highlights:

- For $729,900 you can get this “majestic,” 3-story, 8,100 square feet Colonial in Detroit Michigan. But you might not want to share that information with folks in NYC, who may drop nearly $1 million for this 1 bedroom/1bathroom condo loft with 1,100 square feet on Wall Street.
- This four bedroom townhouse in Centreville, VA wins the prize for lowest price per bedroom ratio with each bedroom costing only $106,000 each at $424,888 (the average for the remainder of the top 10 was $340,000).
- See the full report (PDF) for the list of top 10 most viewed properties; homes in San Francisco, Pleasanton, Philadelphia, Phoenix, Brooklyn, Manhattan, Detroit and Centreville all made the list.

Finally, our “Spotlight on” feature this month focused on the land of the Lakers, Dodgers and (formerly known as the LA) Raiders, Los Angeles.

While some on the Westside still think the Los Feliz, Silver Lake, and Eagle Rock areas are “up and coming,” those on the Eastside know that they have been coming up for years. This is underscored with all three on the “hottest LA neighborhoods” list for April.

The most viewed properties in Los Angeles cover a very wide range, with this Bel Air, 33-bedroom, trophy estate coming in at $43 million, fully 172x the cheapest property on the “hot list”—this one bedroom Chinatown condo loft at $250,000.

You can view the full report here (PDF).