Over the past couple years homebuyers gravitated toward more urban and expensive homes, but this year is different.
Redfin released its list for the top 10 cities in 2015 and found that this year buyers are looking at places that are both affordable and convenient.
“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.”
Redfin’s 2015 predictions are based on a similar methodology: It looked at which ones had the biggest increase in page views and Favorites on Redfin.com, as well as the prevalence of Redfin Hot Homes in each neighborhood.
So here they are — the top 10 neighborhoods everyone will be fighting over in 2015:
10. Woodridge, Washington, D.C.
Median sale price: $388,00
Median days on market: 26
9. Crocker, San Francisco
Median sale price: $590,00
Median days on market: 17
8. Woodridge, Seattle
Median sale price: $615,00
Median days on market: 8
7. Anderson, Chicago
Median sale price: $308,000
Median days on market: 18
6. Curtis Park, Sacramento
Median sale price: $381,00
Median days on market: 26
5. Bohemia, Long Island
Median sale price: $350,000
Median days on market: 90
4. Little Neck, Queens
Median sale price: $425,000
Median days on market: 73
3. East Atlanta, Atlanta
Median sale price: $211,00
Median days on market: 35
2. Dickinson Narrows, Philadelphia
Median sale price: $192,000
Median days on market: 55
And for the top neighborhood in all of america, (drum roll please) click the next page.
1. El Cerrito, San Diego
Median sale price: $320,000
Median days on market: 26
Want more hot San Diego neighborhoods? HousingWire recently teamed with BuildZoom to identify the suburbs in major metros with the best home-value appreciation.
Using the latest data from Zillow (Z), BuildZoom Chief Economist Issi Romem sorted through the cities in the San Diego metro area and identified those with the greatest price appreciation.
To provide a picture of the home-price gains in every price point, Romem broke out the cities into seven median home value categories, and for each one he reported the suburb with the greatest year-over-year home value gains.
Check out this article on San Diego’s top 7 suburbs a more in-depth picture of what America’s hottest neighborhood looks like.
