Best Blue-Chip Real Estate Investments
While gambles on up-and-coming neighborhoods and new developments paid off for many real estate investors during the boom, housing markets across the country are now awash with unsold condos and suffering from sluggish sales.
But this is not the case for homeowners in so-called “blue chip” neighborhoods. Properties in these well-established spots have held on to and increased in value over the last 17 years. They include segments of Pacific Palisades in Los Angeles, areas of Chicago and parts of University Park in Dallas. In these spots, the median home sale price has grown, in that time, by 440%, 236% and 148%, respectively.
In search of these and other “blue-chips,” Forbes.com looked at home appreciation data from NeighborhoodScout.com, a Rhode Island-based real estate research firm that tracks these numbers at the Census-tract level. It revealed the spots in the country’s 15 largest metros which show the greatest total historical appreciation since 1990. After all, a truly robust market can weather market downturns and grow during market spikes, no matter how many cycles it goes through.