SEATTLE--(BUSINESS WIRE)--Redfin (www.redfin.com), the customer-first brokerage, today released a mid-year update on its Hottest Neighborhoods of 2014 report. Of the 10 neighborhoods that Redfin included in its January predictions, which were based on the website activity of millions of unique visitors, eight neighborhoods are solidly outperforming their metro areas so far this year.
To measure whether the neighborhoods lived up to expectations, Redfin looked across several housing metrics and compared them with last year. Those metrics include median sale price, price per square foot, how many homes sold, how fast homes sold and the percentage of homes that sold above list price.
Redfin also used its website traffic data to pinpoint 10 new markets that are now heating up. According to that data and Redfin real estate agents, the common theme among these warming neighborhoods is affordability; the neighborhoods that made the top 10 are mostly adjacent to other highly sought after neighborhoods that have become difficult to get into because of high prices and few homes for sale. Here are the top 10 markets that are now heating up:
1. North Oak Park (Sacramento)
2. Roland Park (Baltimore)
3. Roosevelt (Seattle)
4. Cheviot Hills (Los Angeles)
5. Inman Park (Atlanta)
6. Cole (Denver)
7. Sedgefield (Charlotte)
8. Creston-Kenilworth (Portland)
9. NoPa (San Francisco)
10. Franklintown (Philadelphia)
To read the full report, click or paste the following link. http://www.redfin.com/research/reports/special-reports/2014/hot-or-not-hottest-neighborhoods-2014.html
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Redfin (www.redfin.com) is a customer-first real estate brokerage that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools that make the entire process of buying or selling a home easier and more fun. The company serves major markets across the U.S. and has closed more than $13 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.