Yelp is a highly used and valuable resource for finding information and reviews on just about every type of service from Restaurants to Campgrounds. Over the past few years Yelp has become a household name that continues to grow in popularity.
Researchers and analysts are now respecting the value of Yelp as a source for Real Estate trends. According to this Realtor.com article > Using Yelp To Find the Next Hot Neighborhood
“The new research, conducted by Edward Glaeser, a professor of economics at Harvard, along with Hyunjin Kim and Mr. Luca of Harvard Business School, found that Yelp reviews can offer much earlier clues that a neighborhood is in transition. Yelp posts information about local businesses such as prices, opening hours and menus, and allows users to rate them.The researchers found, for example, that growth in the number of Starbucks locations—and cafes more generally—is correlated with price growth in neighborhoods”
Considering buying a home? Consider adding Yelp to your list of research tools as you explore neighborhoods to find the right place for your next move.
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