Booming tech industries in Seattle and San Francisco are much to blame for increased popularity in neighborhoods outside of downtown. Homebuyers are forgoing life in city cores and choosing more affordable neighborhoods with renovated homes, access to high-end shopping and restaurants, and public transit, according to Redfin’s Hottest Neighborhoods of 2017 report. Check out which neighborhoods Redfin agents predict will be hot based on recent growth and favorites on Redfin.com.
1. Bushrod (Oakland, Calif.)
Median Sale Price: $817k
Average Days On Market: 49
Oakland makes its first appearance on Redfin’s hot list this year after experiencing increased demand since late last year. Its Bushrod neighborhood is particularly popular since it provides a more affordable option to nearby Rockridge and Temescal. Residents are within walking distance of trendy restaurants along College Avenue and are close to the Ashby and Rockridge BART stations. A two-bedroom starter home recently sold for $200k over asking price and was off the market within 10 days.
2. Woodridge (Bellevue, Wash.)
Median Sale Price: $720k
Average Days On Market: 37
Bellevue’s Woodridge neighborhood offers top-ranked schools and is close to downtown Bellevue. Homes receive multiple offers from well-qualified buyers, who are not deterred by several years of price growth. Woodridge ranked as the eighth-hottest neighborhood in 2015.
3. Serra/The Dalles (Sunnyvale, Calif.)
Median Sale Price: $1.76M
Average Days On Market: 42
Homebuyers pushed out of expensive Palo Alto and Los Altos are moving into Sunnyvale’s Serra/The Dalles neighborhood for its quiet community, cute homes and top-ranked schools. It’s also a quick drive to Downtown Sunnyvale and lively Murphy Street, which offers plenty of restaurants and amenities.
4. Somerset (Glendale, Calif.)
Median Sale Price: $460k
Average Days On Market: 61 Glendale’s Somerset neighborhood is benefiting from increased interest from buyers priced out of nearby Eagle Rock, which was Redfin’s second-hottest neighborhood in 2014. The area offers plenty of condos, making it ideal for first-time homebuyers. It is also close to Eagle Rock’s Colorado Boulevard and has easy access to nearby freeways.
5. Eliot (Portland, Ore.)
Median Sale Price: $499k
Average Days On Market: 54 Portland’s Eliot neighborhood offers diverse houses, renovated homes, and new condos and townhouses with easy access to public transit. It’s also right across the river from Downtown Portland. Eliot has some of the best restaurants in the city and is highly walkable with bike lanes running through the neighborhood.