Redfin (www.redfin.com), the technology-powered brokerage, today announced its annual list of the hottest neighborhoods across the country. To rank the neighborhoods that have grown the most in popularity leading into 2014, the company analyzed hundreds of millions of pages its website users visited and homes they added as Favorites to monitor for price changes or sales. The analysis also takes into account insights from Redfin real estate agents who specialize in neighborhoods across 21 major U.S. cities.
Highly ranked schools and scenic community parks look like the obvious common thread among the top neighborhoods. However, Redfin agents have found that the real trend in 2014 neighborhood popularity is a short commute at an affordable price. The trending neighborhoods offer a short drive to or easy access to a commuter rail line at prices that are not the most expensive in the city.
“After a year in which prices popped 13 percent, Americans are checking out still-close-in but often-overlooked neighborhoods in search of affordability, even if means less-fashionable restaurants or a home that needs a little more work,” said Redfin CEOGlenn Kelman. “Like the actress who was nominated for 18 Emmys before finally winning, these are the Susan Luccis of neighborhoods, finally getting their due. The buyers who have made these alternative spots so hot aren’t like the ones we saw in the last boom, who just borrowed more and paid up. Our clients in 2014 have settled on a price range, and they’re sticking to it.”
Following are the top 10 hottest neighborhoods across the U.S. The ranking is based on the neighborhoods’ relative growth in popularity, measured by Redfin.com home listing pageviews and Favorites between September and December 2013, compared with those during the same period in 2012:
|Rank||Neighborhood (Metro Area)||Year-Over-
Year Changein Pageviews
|MedianSale Price in2013|
|#1||Bernal Heights North Slope (San Francisco, CA)||196%||$982,500|
|#2||Eagle Rock (Los Angeles, CA)||128%||$539,000|
|#3||Morningside-Lenox Park (Atlanta, GA)||271%||$540,375|
|#4||Upper Chevy Chase (Washington, D.C.)||430%||$873,000|
|#5||Desert Shores (Las Vegas, NV||61%||$179,525|
|#6||Barrington Oaks (Austin, TX)||316%||$303,750|
|#7||Phinney Ridge (Seattle, WA||178%||$502,625|
|#8||Concordia (Portland, OR)||305%||$355,000|
|#9||City Park (Denver, CO)||276%||$394,500|
|#10||Humboldt Park (Chicago, IL)||158%||$189,450|
To read the full report, complete with rankings of the top five hottest neighborhoods in each of 21 major markets, click or paste the following link. http://www.redfin.com/research/reports/special-reports/2014/top-neighborhoods-of-2014.html.