|January 29, 2018|
|Redfin Predicts the Hottest Neighborhoods of 2018|
Nine of the 10 Hottest Neighborhoods of 2018 are in San Jose, a Popular Destination for Tech Workers Priced Out of San Francisco
Redfin Also Named 2018’s Hottest Neighborhoods Within Reach, Led by Hillcrest and Deanwood in D.C. and Riverview in Seattle
Redfin Identifies the Three Hottest Neighborhoods in each of 49 Major U.S. Metro Areas
SEATTLE — January 29, 2018 — (NASDAQ: RDFN) — Redfin (www.redfin.com), the next-generation real estate brokerage, today announced its 6th annual list of neighborhoods across the country it predicts will be the year’s hottest. In 2018, nine of the 10 hottest neighborhoods are in the San Jose metro area.
“While the San Francisco peninsula has traditionally been the hottest of the hot places, we’re seeing it become unaffordable for even the tech giants that helped create its demand in the first place,” said Redfin Silicon Valley agent Kalena Masching. “The result has been a tech-worker migration to the South Bay charged by people looking for relative affordability, highly rated schools, short commutes and access to jobs.”
To rank the neighborhoods that are heating up the most, the brokerage analyzed hundreds of millions of pageviews to Redfin.com and homes that users favorited to monitor for price and status changes. The analysis also takes into account insights from Redfin real estate agents who specialize in neighborhoods across these 49 major U.S. metros.
To identify very hot, but relatively affordable neighborhoods in other parts of the country, this year Redfin also named the Hottest Neighborhoods Within Reach. This list identifies hot neighborhoods where median home sale prices fall below the December 2017 national median of $286,700. Topping this list are Hillcrest and Deanwood in Washington, D.C. and Seattle’s Riverview, which have plenty of greenspace and easy access to job centers. This ranking also surfaced several neighborhoods across the Midwest, with hot hoods like Misty Meadows, Country Lakes, Brewer’s Hill, Stevens Square and Downtown St. Louis in Columbus, Chicago, Milwaukee, Minneapolis and St. Louis cracking the top 10.
Hottest Neighborhoods Within Reach (Neighborhood, Metro Area)
“The Hottest Neighborhoods Within Reach list has places chock-full of amenities and diverse housing types,” said Redfin chief economist Nela Richardson. “Features like easy commutes, farmers markets and proximity to parks or the beach all represent livability characteristics that many people value when searching for homes. Also, these areas have a mix of single family homes, condos and townhouses, which make the neighborhoods accessible to a wide range of incomes.”
The full report, complete with data and agent quotes for the 10 Hottest Neighborhoods, the 10 Hottest Neighborhoods Within Reach and a list of the top three Hottest Neighborhoods for 49 metro areas can be found here: https://www.redfin.com/blog/2018/01/nine-out-of-redfins-10-hottest-neighborhoods-of-2018-are-in-san-jose.html.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here. To view Redfin's press center, click here.