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Redfin Predicts the Hottest Neighborhoods of 2016

SEATTLE--(BUSINESS WIRE)--Redfin (, the next-generation real estate brokerage, today announced its annual list of neighborhoods across the country it predicts will be the hottest this year, topped by Ukrainian Village in Chicago. To rank the neighborhoods that have recently grown the most in popularity, the company analyzed hundreds of millions of pageviews to and homes that users favorited to monitor for price and status changes. The analysis also takes into account insights from Redfin Homes for sale bethesda maryland real estate agents who specialize in neighborhoods across these 31 major U.S. metros.

Rank Neighborhood (Metro) Median Sale Price Median Days on Market 1 Ukrainian Village (Chicago, IL) $472,000


2 Eastwood (Nashville, TN) $380,000

43 3 Ericsson (Minneapolis, MN) $224,900


4 Hyde Park (Austin, TX) $449,000


5 Mount Pleasant (Washington, DC) $760,000


6 Midtown (Ventura, CA) $546,200


7 El Camino Real (Irvine, CA) $636,500


8 Hampden (Baltimore, MD) $198,000


9 Powderhorn Park (Minneapolis, MN) $180,000


10 Roosevelt (Seattle, WA) $623,500


Common themes across the 2016 list are access to public transit, affordability as well as homes and neighborhoods with charm.

Affordability tops buyers list of concerns, and many who Homes for sale bethesda maryland dropped out of the market last year because of it are back with more experience under their belts. Theyve done their research on the market and identified those pockets that are still affordable but also offer the stores, coffee shops Home for sale bethesda md and short rides to downtown that make communities livable. This increasingly rare combination can be found in Ukrainian Village in Chicago, Eastwood in Nashville, Ericsson in Minneapolis and other hot neighborhoods across the country.

Redfin agents report that many buyers are bypassing cookie cutter homes in neighborhoods that didnt make this years list for the charming architecture and tree-lined streets that lend personality Homes for sale bethesda maryland to neighborhoods like Ukrainian Village in Chicago and Bethesda MD Mount Pleasant in Washington, D.C.

Last years migration patterns have also notably shaped this years ranking.

For the first time, the San Francisco Bay Area is absent from Redfins top 10 hottest neighborhoods list, said Nela Richardson, Redfins chief economist. After the median sale price surpassed a million dollars in March and inventory dropped to historic lows, San Franciscans have been feeling uninspired by local housing prospects. In fact, one in four Bay Area users of are now searching for homes in other cities. San Diego and Los Angeles, home to some of the nations highest real estate prices, also failed to make the top ranks this year.

To view the full report, complete with analysis and rankings for the top three hottest Bethesda Md Homes for Sale neighborhoods in 31 metros, click or paste the following link:

Customizable data on all of the metros Redfin tracks in this report is available to view and download on Redfins Data Center.

Connect with Redfin







Download the Redfin mobile app

About Redfin

Redfin ( is a next-generation real estate brokerage that represents people buying and selling homes. Founded by technologists, Redfin employs a team of experienced, full-service real estate agents who are advocates for their clients, earning customer-satisfaction bonuses, not just commissions. features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools, built by its own software engineers, that make the entire process of buying or selling a home easier. The company serves more than 80 major markets across the U.S. and has closed more than $25 billion in home sales. In 2014, Redfin was included in CNBCs Disruptor 50 list as an innovator that is revolutionizing the real estate industry.

To be added to Redfin's press release distribution list, subscribe here.
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18 Mar 2016. 12:04:25

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