Jun 03

Zones With the Greatest Price Increases

Zones With the Greatest Price Increases

Opportunity zones are booming. From the first quarter compared to the fourth quarter of 2021, 55% of qualified opportunity zones saw a jump of at least 20% in median single-family home and condo prices, according to a new report from ATTOM Data Solutions. Home prices in distressed neighborhoods nationwide continue to keep up with the gains in the broader national housing market, the report notes.

Opportunity zones, established by Congress in the Tax Cuts and Jobs Act of 2017, offer investors tax breaks in exchange for making long-term investments in the revitalization of low-income federally designated neighborhoods nationwide.

Despite recent gains, typical home values in opportunity zones remain lower than those in most other neighborhoods across the country in the first quarter. The median price is less than the national median of $320,500 in 76% of the opportunity zones analyzed, according to the report. Of the zones tracked in the report, 35% had median prices less than $150,000 and another 15 percent had medians ranging from $150,000 to $199,999.

But some areas are seeing a large increase in opportunity zone prices. In the first quarter, the states with the largest portion of zones where median prices increased annually were in the West, led by Utah (median prices up, year over year, in 97% of zones), Arizona (97%), Nevada (93%), Oregon (88%) and Florida (87%).

The ATTOM Data Solutions report uncovered the following 10 opportunity zones based on median home prices above the national median of $320,500 and the greatest quarterly increases.

A bar chart showing the top 10 opportunity zones with the greatest quarterly median home price increases.

Source: 

ATTOM Data Solutions

©National Association of REALTORS® Reprinted with permission

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.