Redfin's prediction of the hottest neighborhoods of 2016 in the United States has been revealed. This year homebuyers have gone outside the box in looking for a new hood. It is noted that people want to buy a house in an areas with personality.
Redfin shares that the list given for the real estate properties is mainly based on charm, affordability and access to public transit. Among those that got to the top of the list for last year in terms of closed sales is the affordability of the homes purchased. Some are back after doing their research and are honing in on affordable properties that have coffee shops and stores nearby. Short ride to the downtown areas were also put into consideration.
The list of the areas that offers these qualities of an area is in Chicago that is known as the Ukrainian Village. Ericsson and Eastwood in Minneapolis and Nashville respectively are also among the hottest neighborhoods in the United States.
Nela Richardson, chief economist for Redfin, is surprised that the San Francisco area is not in their list of top 10 hottest hoods, taking special notice to Los Angeles and San Diego as well. Richardson points out that people living in San Francisco have been discouraged by local housing prospects because of low inventory and a median sale of over a million dollars.
As a matter of fact they are now searching outside the Bay area for homes that may be affordable and has character. Some areas that present appealing character and charm are areas in Atlanta-Sandy Springs-Marietta, Georgia; Austin-Round Rock-San Marcos, Texas; Baltimore-Towson and Bethesda-Rockville-Frederick in Maryland ; Chicago-Joliet-Naperville, Illinois
DNAinfo adds that Ukrainian Village as first in the nation, coming in second in the city level is West Loop and East Village in third. Other factors such as page views and specific searches on the website and application on the second half of 2015 has been the basis for the list.
Niko Voutsinas, a Redfin real estate agent, says that despite the Ukrainian Village being bordered on all four sides by nightlife and business establishments it is still considered tranquil in itself. The location is best for desire single family homes.
The website has more detailed data on the areas that are considered to be 2016's hottest neighborhoods in the country.
What do you think about the list made by Redfin?
