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Business Observer Friday, Aug. 24, 2018 4 weeks ago

Price is no object

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Naples neighborhood tops ranking of great 11,000 in the U.S.. Median home price is a low factor.

We're No. 1 is a relative rallying cry — at least when it comes to the Pine Ridge community in Naples. It was named the No. 1 greatest neighborhood in the country in a recent national report.

While that's nice, with a median home price of $632,871, Pine Ridge isn't a place where just anyone can move. Pine Ridge earned its ranking in the 2018 Neighborhood Housing Index from Irvine, Calif.-based real estate data firm ATTOM Data Solutions, for several other reasons, including home appreciation and quality schools. 

The ATTOM Data report ranked 10,950 neighborhood housing markets nationwide based on six factors impacting the hyperlocal housing market: affordability, appreciation, school scores, crime rates, unemployment rates and property taxes.

The median home price appears to be the lowest common denominator in the report, given the difference among the top five ranges from a median price of approximately $200,000 to $800,000. That’s also apparent in the No. 2 neighborhood on the list, Westlake, in Mobile, Ala., with a median home price of $196,179.

What does this all mean, relative to buying and selling homes in a given market? There's a bit of beauty lies in the eye of the beholder, for one. ATTOM Data Senior Vice President Daren Blomquist says in the statement, "The top five neighborhoods in this ranking represent a diverse set of markets across the country, illustrating that great neighborhoods come in many different forms."

CHART

 2018 Neighborhood Housing Index

Neighborhood     Median Home Price

Pine Ridge, Naples    $632,871  

Westlake, Mobile, Ala.,     $196,179

Union, San Jose    $795,000

Westmoreland, Charlotte, N.C.    $326,000

Hunters Hill, Denver    $271,000

 

 

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