Real estate company Redfin recently released its list of the hottest neighborhoods of 2017, and locales in city-adjacent towns such as Oakland, California, and Bellevue, Washington, dominated over their urban counterparts.
The ranking looked at neighborhoods that experts expect to become up-and-coming hotspots, and highlights a growing trend: Homebuyers want the amenities of both suburban and city life. They're looking for big, renovated houses minus the price tag a place in the heart of a major city would bring.
"While many of 2017's hottest neighborhoods come with longer commutes, Redfin agents say they offer homebuyers the best balance of everything: quick access to public transit, trendy shopping and dining options, plus larger move-in ready homes with charm and price tags that are a little easier to bear," the report states.
To predict what will be the hottest neighborhoods of 2017, Redfin measured neighborhood growth by analyzing the number of pageviews from visitors to Redfin.com and the number of homes favorited by users on the site. Redfin also consulted local agents to confirm which areas are heating up in popularity.
From turn-of-the-century homes outside New Orleans to Silicon Valley-adjacent pads in Sunnyvale, California, read on to see the hottest neighborhoods for 2017.
"Tremé is definitely becoming an 'it' place in New Orleans. It's right on the border of the French Quarter, but somewhat less expensive and historically not as trendy. The neighborhood boasts a lot of turn-of-the-century homes with beautiful architectural details, which are generally very popular, especially among out-of-state buyers."
"Greenfield has a community pool, a playground, tennis courts, a fishing pond and many trails for people wanting the outdoor, active Colorado lifestyle. Located in the highly rated Cherry Creek School district, it's a prime location — just five minutes away from the Southlands Mall District, with its retailers, movie theater and many restaurant options."
"As people get priced out of other neighborhoods near city center, I've seen an increase in interest in Hollywood Park in particular. It's one of the few neighborhoods that's in really close proximity to downtown and yet still has some affordable homes available. A lot of the buyers I've worked with appreciate the unique older homes there and they are willing to sacrifice certain other amenities (like higher Walk Score ratings) in order to have charming homes with character that are still affordable and just a ten minute commute to some of the hippest areas in Sacramento."
7. Colonial Village/Shepherd Park — Washington, DC
"Colonial Village and Shepherd Park are two small, adjacent neighborhoods at the far northern tip of D.C. proper. Increasingly, people who bought condos in central D.C. neighborhoods are looking for more space as their families expand, especially now that equity has risen and their debts are lower. What appeals about both areas are the larger lot sizes, the predominance of single-family homes and the suburban feel – and yet you're still in the city."
"In Edgeworth, you're within walking distance of both the Malden Center Orange line T-station and the Wellington Orange line T-station, which makes commuting downtown very do-able. And home prices, though elevated from what they were several years ago, are more affordable than Medford and the trendiest towns like Cambridge and Somerville."
"As traffic intensifies in Portland, proximity to downtown and access to public transportation are increasingly important to many buyers. Not only does Eliot have a high Walk Score, with arguably some of the best restaurants in the city peppered throughout, but it's also right across the river from downtown, has easy access to the MAX line and even has a bike lane running right through the center of the neighborhood (and an impressive Bike Score of 96)."
"A good selection of condos to choose from makes it more friendly to first-time buyers and yet it's still close enough to enjoy Eagle Rock's quaint downtown on Colorado Blvd. Plus, it has easy access to the 2 Freeway, which is a main artery leading to Downtown L.A. or a great connection the 134 and all of the jobs located in Burbank and the San Fernando Valley.”
"Serra, also known by the name of the main drag that runs through the middle of the neighborhood, 'The Dalles,' is gaining more popularity lately as more homebuyers in the Silicon Valley continue to get pushed south of Palo Alto and Los Altos. The neighborhood itself is quiet, comprised of charming single-family homes, and the highly ranked schools are a draw for young families. Although not quite walkable, a quick Uber ride will get you into Downtown Sunnyvale, which has gone through a recent development boom."
(City of Sunnyvale, California (Government)/Facebook)
“Woodridge, which ranked as the eighth hottest neighborhood in the nation in 2015, now ranks second nationally because of its highly ranked schools and convenient location only minutes from downtown Bellevue. Strong price growth in the area over the past couple years hasn't deterred buyers, and when homes come on the market they are met with multiple offers from well-qualified buyers.”
"From Bushrod you can walk to some of the Bay Area's best restaurants on College Avenue, such as À Côté and Millennium. It's also walking distance to either the Ashby or Rockridge BART stations. There's a joke in this part of town that it's closer to San Francisco than San Francisco is — you can get to the financial district in under 20 minutes on most occasions."