For 2016, it appears as though buyers are prioritizing affordability, charm, and access to public transportation as what they desire most in a neighborhood. As Business Insider reports, the emphasis on affordability would explain why San Francisco, a regular contributor to “Hottest markets’ lists, is not found in the top 10.
Another feature buyers want is one that is a little bit harder to define or measure, and that's charm or character. Cookie-cutter neighborhoods with streetscapes that have an unrelenting sameness are not what most people are interested in.
Redfin ranked the top 10 neighborhoods in the country that are projected to explode in 2016 based on the most recent growth in page views and favorites per home on their site.
Ukrainian Village, Chicago, took the top spot on the list because it offers an intriguing mix: single-family homes that are bordered on all four sides by business and nightlife corridors. Homes in Ukrainian Village were on the market for a median of 22 days and had a median sale price of $472,000.
Eastwood, Nashville is projected to be the second-hottest neighborhood in the country—it's seeing a lot of interest from Millennials and investors. Homes here were on the market for 43 days and had a median sale price of $380,000.
Other neighborhoods on the list were Ericsson, Minneapolis (3), Mount Pleasant, Washington, D.C., Hampden, Baltimore (8), and Roosevelt, Seattle (10).
To view the entire list, click the link below.
