By Steve Kilar
The Baltimore Sun
10:41 AM EST, January 24, 2013
Among Baltimore's neighborhoods, the hip community of Hampden is forecast to see the most home value appreciation this year, according to data-driven real estate search website Zillow.
Home values in that North Baltimore district should see a 4.2 percent increase over the next 12 months, according to a report the firm recently released. Zillow considers an annual appreciation of about 3 percent to be the national norm.
Locust Point and Highlandtown are tied for second place in the Baltimore forecast. Zillow estimates that values in those neighborhoods will increase 4.1 percent by the end of the year.
In addition to Highlandtown, several other neighborhoods surrounding Patterson Park — Ellwood Park/Monument, the Patterson Park Neighborhood, Upper Fells Point and Butchers Hill — are among the forecast's top 10.
Other neighborhoods in the top 10, all predicted to appreciate at 3.3 percent or more, are Washington Village/Pigtown, Mount Vernon and Remington.
As a group, metro Baltimore's homes are forecast to increase in value 1.4 percent this year, according to Zillow.
"Nationally, home values are projected to increase 3.3 percent over the next year," Zillow's report said.
Baltimore's home values bottomed out in the first quarter of last year — one quarter later than the nation as a whole, which has now had five consecutive quarters of home value appreciation, Zillow said.
Home values in metro Baltimore just returned to levels last seen in December 2004, the firm's report said.
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