Tuesday
September 27, 2016

Real Estate's March Madness Winners

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Real Estate's March Madness Winners

While college basketball fans are rushing to fill out their brackets for March Madness, realtor.com® decided to put a real estate twist on the tournament.

Realtor.com® took a look at each teams' biggest fans and then matched up the hometowns of those fans based on their real estate performance (including how fast homes sell and how many people check out local listings on realtor.com® in those areas).

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So who inched to the top of the bracket? Danville, Calif., home of the University of California, Berkeley, is the most popular market for college basketball tickets and also proved to be the hottest housing market out of the 68 college basketball teams, realtor.com® found.

"Our analysis shows that ZIP codes with the highest number of college basketball ticket sales are also ballers when it comes to real estate," says Jonathan Smoke, realtor.com®'s chief economist. "But you can only have one winner in the Big Dance, and Danville's strong housing market, strong economy, and favorable demographics helped it take down the net this year."

Indeed, Danville netted 62 percent more listing views than the surrounding San Francisco-Oakland-Hayward metro area (which often winds up on real estate hot lists). The median household income in Danville is nearly $120,000. Homes there tend to sell 41 days faster than the average U.S. listing.

Overall, here are realtor.com®'s top four championship teams that made it to the final round because of their stellar housing markets:

  • University of California, Berkeley: Danville, Calif.
  • Iowa State: Ames, Iowa
  • The University of Texas: Austin, Texas
  • The University of Michigan: Ann Arbor, Mich.

Source: “Find Out Who Won Our 2016 Real Estate Market Tournament,” realtor.com® (March 16, 2016)