It is no secret that the American housing market is booming. The local Seattle metro area (and the majority of Washington state’s) real estate market is on fire! The Real Estate website Redfin, has compiled its market data and published a report indicating where the hottest neighborhoods are in 2016. Measured by the number of growth in page views and favorites per home in areas on the digital site, Redfin has made predictions on what neighborhoods will see the most physical growth and activity. The real estate website said that buyers will be putting a priority on affordability and neighborhood characteristics. Being close to downtown, shops, coffee, and natural charm in the area are found to be important to potential buyers.
Usual suspects like Los Angeles and San Francisco didn’t even make the list! The Seattle area cracked the U.S. top ten list with it’s Roosevelt neighborhood. Avoiding the cookie cutter neighborhoods, buyers are doing their research and have a larger desire for areas with original architecture and charm. Below is a list of the top ten most desired listings according to Redfin data.
10 Hottest US Neighborhoods In 2016
- Ukrainian Village (Chicago, IL)
- Eastwood (Nashville, TN)
- Ericsson (Minneapolis, MN)
- Hyde Park (Austin, TX)
- Mount Pleasant (Washington, DC)
- Midtown (Ventura, CA)
- El Camino Real (Irvine, CA)
- Hampden (Baltimore, MD)
- Powderhorn Park (Minneapolis, MN)
- Roosevelt (Seattle, WA)
While ever so slightly, rising mortgage rates have been reported to be ‘no concern’ to most buyers. They are more worried about housing affordability. With the lowest interest rates of the past year, right now can be a still be a great time to purchase a home and it is clearly the best time to sell your home.
If you are curious how much appreciation you currently have in your home or want to develop a strategy to move into the neighborhood of your dreams, contact us today and we’ll help you develop a plan to make that a reality!