Jennifer Williams says she often feels like the oldest person on her block. When the 52-year-old corporate communications executive sets off for work in a suit, carrying a briefcase, with her hair in a bun, she is usually surrounded by young people with tattoos and rainbow crocheted skull caps. “It’s like mom is coming in for a visit,” she says.
That doesn’t bother Ms. Williams. In fact, such diversity is exactly what she was looking for when she bought a condo in the Williamsburg section of Brooklyn two years ago, after living in what she calls the “dead zone” of the Upper East Side of Manhattan. “I find it endlessly fascinating and interesting. I wanted to be somewhere with energy and life.”
Hip urban neighborhoods are aging, as a growing chunk of adults in their 50s and 60s and older give up their longtime homes and head for trendy condos. The invasion of older, moneyed buyers has “created a gold rush” in some of these areas, says Dean Jones of Realogics Sotheby’s International Realty in Seattle. Mr. Jones’s firm sold 34 condominium penthouses and luxury town homes for more than $1 million in downtown Seattle neighborhoods between March and October of 2012—a large percentage to baby boomers. It was a 40% increase over the same period a year earlier.