SEATTLE--(BUSINESS WIRE)--Redfin (www.redfin.com), the customer-first brokerage, today announced its annual list of the neighborhoods across the country it predicts will be the hottest this year. To rank the neighborhoods that have grown the most in popularity leading into 2015, the company analyzed hundreds of millions of pages that its website users visited, homes they added as Favorites to monitor for price changes or sales and the prevalence of Hot Homes, as determined by the Redfin Hot Homes Algorithm. The analysis also takes into account insights from Redfin real estate agents who specialize in neighborhoods across these 27 major U.S. cities.
The common theme among the hottest neighborhoods of 2015 is compromise. In our recent homebuyer survey, affordability was ranked as the biggest obstacle to owning a home for the first time since early 2012. As affordable inventory remained low throughout most of 2014, homebuyers began to look a bit further afield to find the perfect home without sacrificing the conveniences of being close to an urban center.
“Many homebuyers have recoiled from the dramatic increase in house prices in urban centers posted over the past three years,” said Redfin Chief Economist Nela Richardson. “They are now searching for more affordable places farther out. Expect the neighborhoods on this list to see high demand in 2015 as rock-bottom mortgage rates and a more lenient mortgage lending environment help make homeownership in expensive cities less costly.”
|Neighborhood||Median Sale Price||Median Days on Market|
|El Cerrito (San Diego, CA)||$320,000||26|
|Dickinson Narrows (Philadelphia, PA)||$192,000||55|
|East Atlanta (Atlanta, GA)||$211,000||35|
|Little Neck (Queens, NY)||$425,000||73|
|Bohemia (Long Island, NY)||$350,000||90|
|Curtis Park (Sacramento, CA)||$381,000||26|
|Andersonville (Chicago, IL)||$308,000||18|
|Woodridge (Seattle, WA)||$615,000||8|
|Crocker (San Francisco, CA)||$590,000||17|
|Woodridge (Washington, DC)||$388,000||26|
To read the full report, complete with rankings of the five hottest neighborhoods in each of 27 metro areas, click or paste the following link: http://www.redfin.com/research/reports/special-reports/2015/hottest-neighborhoods-of-2015.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 salespeople, 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 nearly $20 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World’s Most Valuable Private Tech Companies by Business Insider.