What's the Deal: Philadelphia's top 5 booming neighborhoods

PHILADELPHIA (WPVI) -- If you're in the market for a new home and looking for a hot deal, we got the scoop on the neighborhoods where you can really stretch your real estate dollar and get in before the next big boom.

Five years ago, licensed real estate broker Michael O'Brien started MyPhillyRealty.com. He says in that short amount of time, he's seen the housing market here explode.

"Philadelphia really has reached a critical mass of awesomeness," he said. "We have seen a complete 180 in living options."

From new construction to refurbished spaces, the "it" neighborhoods have been billowing out from Center City in all directions

"If you take a look at Northern Liberties and Fishtown, you've seen great appreciation over a short period of time," said O'Brien.

But if you missed the big rush to those hot spots, the growth continues.

"Now the future is Port Richmond, just north of Fishtown and to the west, Kensington. I think Port Richmond is the next Fishtown," said O'Brien.

O'Brien adds Brewerytown to that list, which is adjacent to Fairmount and the Art Museum.

"It's going to appreciate rapidly over the next few years," he said.

O'Brien says parts of South Philadelphia are particularly popular right now, like the Point Breeze section.

"Easy access to Rittenhouse and more affordable than east of Broad. You also have access to University City," said O'Brien.

And if you're willing to travel just a few extra minutes to get into the heart of Center City...

"My favorite destination for buyers right now is East Falls -- a little farther out from the city - 5 minutes additional drive - but a beautiful drive up Kelly Drive," said O'Brien.

O'Brien says these are the 5 neighborhoods that are on the rise and they are becoming increasingly popular with grads, empty nesters and New Yorkers heading south to our city.
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