Redfin, an online purveyor of real estate listings and agents, recently released its rankings of the hottest up-and-coming neighborhoods for the 16 metro areas it serves. The list is made by combining input from Redfin real estate agents with current market data like sales volume and home prices.
"Our agents suggested a list of a handful of neighborhoods that they suspected would see a surge of activity this year, and then we used our data to rank them," Redfin's Rachel Musiker told us of the Philly rankings. "The other neighborhoods we considered were Northern Liberties, Media and West Mt. Airy."
The No. 1 Hottest Up-and-Coming Neighborhood for 2013 is...Phoenixville!
Well, yes, it's true. It's not a neighborhood—it's a city. And it's 28 miles from downtown Philly with its own mayor, whose name is Leo. But it gave the Philly 'hoods like Mt. Airy a run for their money. Here's how Phoenixville is described by Redfin agent Blakely Minton, who provided winning input for all three picks:
Phoenixville, a former industrial city on the Schuykill River, became a ghost town when the steel corporations left in the 1980's. However, the Colonial Theater, featured in the movie, The Blob, would not be forgotten and with its renovation came an influx of former and new residents. Moving right along, No. 2 is Brewerytown. Blakely, take it away:
Brewerytown is the next Philly neighborhood to see the benefits of high Center City prices. Named for all the breweries once operating there, it is a neighborhood still climbing its way up. Mugshots coffee shop was one of the first to attend the revitalization party, which now includes new condos, shops and a national supermarket. And coming in at No. 3, West Germantown! The Take by Blake(ly):
West Germantown is a historic neighborhood that went from riches to rags. It was once the sought after destination by aristocrats, but its large stone homes sat dilapidated for years when the money left. Now these beautiful dwellings on both sides of Johnson Street are slowly and steadily being renovated. Redfin has been in the Greater Philadelphia area for less than a year, so the company doesn't have all the year-over-year figures they were able to use in other markets. Mt. Airy, Northern Liberties, Media—you all will live to fight another day!
· Which Neighborhoods Will Be the Hottest in 2013? [Redfin Blog]