Street names may hold the key to real estate wealth

“What’s in a name?” Shakespeare wrote in “Romeo and Juliet”. “What we call a rose by any other name would smell just as good.”

In the US real estate market, certain street and neighborhood names are more pleasing than others in terms of association with expensive homes.

Cinch Home Services, a home warranty seller, has compiled a list of neighborhood and street names that hold the most expensive homes in the country. He used data from the Census Bureau and real estate broker Redfin.

Addresses with “Beverly” in the name easily top the list, posting an average value of $4.3 million.

“This group likely included very expensive outliers, like Beverly Hills, Calif., a city with homes worth $30 million and more,” Cinch said in a comment accompanying the listing.

He said Beverly Hills holds the record for the most expensive home ever sold at auction – $165 million in 2021.

“Third” second

The word “third” took second place (pardon the pun), with homes with that name in the address averaging $2.1 million. “Brickell” was third, also with an average value of $2.1 million. Brickell Avenue is one of the most expensive streets in Miami.

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“Bayshore” was fourth with $2 million and “Island” fifth with $1.9 million. Other water-focused names that did well were “Lakeside,” seventh at $1.8 million; “Ocean,” ninth at $1.7 million; and “Pacific”, 10e at $1.6 million.

Of course, properties near a clean (or even dirty) body of water are often the most expensive.

Cinch also ranked the neighborhood names associated with the highest median incomes. No. 1 was “Boca” at $72,500. This presumably includes the Tony Boca Raton, Florida.

“Woodlands” finished second with $70,800. This presumably includes upscale Woodlands, Texas. “Legacy” finished third at $67,100.

San Francisco, San Jose

“San” finished fourth with $66,200. This presumably includes San Francisco and San Jose, California. Huntington finished fifth with $65,200. This presumably includes Huntington Beach, California.

Cinch also rated street names that included homes that spent the least amount of time on the market before changing hands. “Fauntleroy” tops the list at 23 days. “Fauntleroy” comes from Old French and means “son of the king”. So maybe these houses have a royal patina.

“Avalon” placed second at 30 days. “Dawson” finished third, also at 30 days; “Ivy” finished fourth, also at 30 days; and “Residence” finished fifth at 32 days.

The worst homes for sale were on Timber Street. It took 410 days. Knoll was second worst at 382 days.

About Mary Moser

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