Many Dallas homeowners are feeling lucky these days, as they’ve watched their home values increase — dramatically, in some cases. But which neighborhoods have seen the greatest appreciation? Zillow researchers answered that question in a recent study.
They analyzed cities with populations over 50,000 to find the country’s luckiest homebuyers — those who bought in the right place at the right time. On the metro level, they looked at towns with populations of 10,000 or more. According to Zillow, the “right time” was the lowest point in the market since the housing crash. The analysis focused on home purchases since January 2006. (Zillow began tracking home values in 2008 but has home value data going back prior to 2006.)
In Dallas, the luckiest neighborhood is University Park, where values have grown 54.6 percent since January 2006, from $808,000 to $1,248,800. Lancaster takes the No. 2 spot, where the right time to buy was September 2012, and houses have appreciated 45.4 percent, from $76,400 to $111,100.
No. 3 is Balch Springs, which has experienced a 44.1 percent increase in home values — $55,800 to $80,400 — since the lowest point in February 2012. Coming in fourth is McKinney, where the right time to buy was November 2011. Values have since risen 40.9 percent, from $167,700 to $236,300.
The fifth luckiest area is Cross Roads in Denton County. Homeowners who bought in August 2011 have seen their values increase 39.7 percent, from $122,300 to $170,900.
Across the nation, most of the luckiest homeowners live in California, as the state claims eight of the top 10 spots: Palo Alto (1), Richmond (2), Pittsburg (3), San Pablo (5), Vallejo (6), Antioch (7), Mountain View (9) and Hayward (10). Leigh Acres in Florida takes the No. 4 spot, and North Las Vegas in Nevada slides in at No. 8.