Which Booming Real Estate Markets Have the Highest-Rated Public Schools?
ZipRealty has released a list of the top 10 “booming” real estate markets with the best public schools. These metro areas are leaders in median home price growth, transaction activity and other key metrics as of mid-August 2013. The public schools were selected because of their high School Score − a proprietary measure of the performance of each school district on a scale of 1 to 10, with 10 being the highest – found exclusively on ZipRealty.com.
Home buyers who are focused on moving to a specific school district can begin their search for a home on ZipRealty.com simply by entering that school district’s name in the search bar. Additionally, users will find a School Score on every listing on ZipRealty.com. “Home values and school scores are always going to be linked,” says ZipRealty President and CEO Lanny Baker. “In order to give our users the most complete picture of a home’s value, we provide a School Score − which is calculated based on test-score data as well as student/teacher ratios − for every home listing on ZipRealty.com.”
The performance of Sacramento’s housing market surprised many home buyers and sellers this year because of strong median home price appreciation. In early February 2012, the median home price was $155,000 but by the end of July 2013, prices had jumped 40% year-over-year to $245,000. This is largely due to the rapid decline of distressed sales. In early 2013, distressed sales represented 61% of the local housing market, but today distress comprises 19% of the market, an 18-month low.
Which public school is the highest-rated in Sacramento?
1) Rocklin Unified School District/School Score 8.5
2. San Francisco Bay Area
Over the past 18 months, the Bay Area housing market led the nation in price increases, and homes in the nine-county region have consistently seen the fewest days on market. In the beginning of 2012 we saw that the median days on market for Bay Area homes was at 50, but by March of 2013 that figure plummeted to 14 , and remained there until mid-June. We’ve recently seen a small increase, and as of Aug. 15, 2013 the median is 17 days on market – still a 32% decline YOY – and scant compared to the nationwide median of 28 days on market.
Which public school is the highest-rated in the Bay Area?
1) Piedmont Unified School District/School Score 9.5
3. Las Vegas
Of all the markets surveyed by ZipRealty, home price increases were among the highest in Las Vegas this year: the median sales price jumped 36% year over year, while inventory declined 11% and distressed sales shrank from 74% to 35%- all clear indicators of increasing demand for housing in a market that was also devastated by the subprime mortgage crisis.
Which public school is the highest-rated in Las Vegas?
1) Clark County School District/School Score 5.5
4. Los Angeles
Considerable price appreciation and a significant decline in days on market and housing inventory have landed Los Angeles at number five on our list. As of Aug. 15th the median sales price increased 31% year over year and median days on market dropped to 20, a sharp decline compared to the 58 days we saw in mid-February 2012. Homes are selling faster, too: In early 2012, 11% of the homes in the LA metro area sold in seven days or less, but today more than one-quarter of the market (28% of all homes) are selling within that same time period. Los Angeles inventory plummeted to 33,170 homes as of Aug. 15, 2013, a 24% YOY decline. At the beginning of 2012, inventory of 58,167 homes marked an 18-month high.
Which public schools are the highest-rated in LA?
1) Manhattan Beach Unified School District/School Score 9.6
2) San Marino Unified School District/School Score 9.6
Median home prices in Orlando have steadily increased over the past 18 months, reaching their highest level as of Aug. 15, 2013 at $144,900. That’s a 26% year-over-year increase. Total inventory declined 21% annually to 14,827 homes, also its lowest point in the past 18 months. Meanwhile, median days on market fell to less than a month – 29 days –as of mid-August 2013.
Which public school is the highest-rated in Orlando?
1) Seminole County Public School District/School Score 7.8
Demand for Phoenix housing continues to increase in the wake of the recent foreclosure crisis. By mid-August 2013, Phoenix home sale prices reached an 18-month high at $188,000, up 25% year over year, and we saw a marked decline in inventory – nearly 4,000 fewer properties on the market than there were in early 2012. New listings (versus distressed) are also making a comeback after the sharp decrease in early 2013. Though there is still a 22% year over year decline in new listings, we are seeing signs of stabilization.
Which public school is the highest-rated in Phoenix?
1) Cave Creek Unified School District 93/School Score 8.0
7. San Diego
Over the past 18 months, median prices in San Diego have steadily climbed to 25% year-over-year, while days on market dropped 56% YOY compared to the 18-month high of 64 days in mid-February 2012. More than one-quarter of the San Diego housing market (26%) sold in seven days or less, compared to only 10% of the market that was selling in that same time frame in early 2012.
Which public school is the highest-rated in San Diego?
1) Coronado Unified School District/School Score 8.6
8. Orange County
Another region recently plagued by foreclosures, Orange County has emerged as one of the fastest-moving housing markets. In March 2012, median days on market were at an 18-month high of 69, and as of Aug 15th 2013 the median has dropped to 15 days - marking a 62% YOY decline from 39 days in Orange County. During this period we saw median home prices increase 22% YOY , thanks in part to a 23% YOY decline of distressed sales: these properties comprised nearly half of the market (47%) in mid-February 2012, but account for only 10% of the market today.
Which public school is the highest-rated in Orange County?
1) Irvine Unified School District/School Score 9.2
As with most landlocked metropolitan areas, Chicago didn’t have the volatility and rapid price appreciation that coastal markets experienced during the most recent housing market upturn. Still, as of Aug. 15, 2013, home prices in Chicagoland jumped 19% year-over-year .Inventory levels declined steadily in 2013, falling 32% year over year as of Aug. 15, 2013. In spite of this decline, there are plenty of opportunities to purchase homes in Chicago as new listings increased 17% YOY as of mid-August 2013 to 15,985.
Which public school is the highest-rated in Chicago?
1) Geneva Community Unit School District 304/School Score 9.4
The housing market in Portland has improved dramatically over the past 18 months. Median sales prices continue to accelerate, along with transaction activity. At the same time, days on market are declining. Median home sales prices increased 14% year over year. More than one-third of the homes in Portland (34%) are selling in seven days or less, a decrease of 9% from the same period last year. In the summer of 2013, an even larger number of homes were trading in seven days or less – between 36% and 37%.
Which public school is the highest-rated in Portland?
1) Lake Oswego School District 7J/School Score 9.6