Where will American homebuyers turn in 2016?
According to real estate website Redfin, which releases an annual list of the hottest neighborhoods nationwide, buyers will be prioritizing affordability, charm, and access to public transportation in 2016. The emphasis on affordability explains why the San Francisco Bay Area — where the median sale price of homes is now over $1 million — didn't crack the top 10 for the first time.
"Another trend that has emerged in this year's hottest neighborhoods is that buyers are looking for homes and neighborhoods with character,"Redfin reports.
Here, we've highlighted the 10 neighborhoods projected to take off in 2016, which Redfin ranked by looking at the most recent growth in page views and favorites per home on their site. We also included the median number of days a home is on the market in that neighborhood, the median sale price for 2015, and insights from local Redfin real estate agents:
SEE ALSO: These will be the up-and-coming neighborhoods in 30 major US cities in 2016
10. Roosevelt, Seattle
Roosevelt, which has been heating up in recent years, rounded out the top 10, thanks in part to its prime location. "Roosevelt touches the interstate, so people have easy access to downtown Seattle or can easily escape for the weekend,"says local agent Dorothee Graham. Plus, there are a bunch of easily accessible parks, including Cowen Park, Ravenna Park, and Green Lake.
Median days on the market: 7
Median sale price: $623,500
See more Roosevelt real estate trends.
9. Powderhorn Park, Minneapolis
While Powderhorn Park cracked the top 10 nationwide, it has stiff competition in Minneapolis and ranked the second hottest neighborhood in this up-and-coming Minnesota city. The median sale price is on of the lowest on this list: $180,000. Plus, residents enjoy plenty of green space, thanks to Powderhorn Park and Lake situated in the center of the neighborhood.
Median days on the market: 32
Median sale price: $180,000
See more Powderhorn Park real estate trends.
8. Hampden, Baltimore
Hampden offers home prices that are hard to beat. "Houses are relatively affordable and have a historical touch and lots of potential to upgrade into a dream home,"says local agent Chris Calabretta. The food scene is also top notch, with an abundance of locally owned restaurants, he notes.
Median days on the market: 32
Median sale price: $198,000
See more Hampden real estate trends.
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