Redfin Names the Most Competitive Neighborhoods for Homebuyers in 2016

Homebuyers faced the most competitive conditions in Seattle,
Boston, Denver and San Francisco

SEATTLE–(BUSINESS WIRE)–Factoria, a neighborhood in Bellevue, Washington, just outside of
Seattle, was the nation’s most competitive neighborhood for homebuyers
in 2016, according to Redfin (www.redfin.com),
the next-generation real estate brokerage. In Factoria this year, the
typical home went under contract in seven days and sold for 5 percent
above the asking price. Home prices there grew 26 percent this year.

 
10 Most Competitive Neighborhoods for Homebuyers in 2016
According to Redfin
 
Rank     Neighborhood (City)     Metro Area
1     Factoria (Bellevue)     Seattle, WA
2     University District (Seattle)     Seattle, WA
3     Washington Square (Brookline)     Boston, MA
4     Prospect Hill (Somerville)     Boston, MA
5     Inner Richmond (San Francisco)     San Francisco, CA
6     Dolores Heights (San Francisco)     San Francisco, CA
7     Woodridge (Bellevue)     Seattle, WA
8     Lakeside (Wheat Ridge)     Denver, CO
9     West Adams (Los Angeles)     Los Angeles, CA
10     Brickyard Road-Queensgate (Bothell)     Seattle, WA
       

Redfin examined neighborhoods in 27 metro areas to rank the 30 most
competitive neighborhoods for homebuyers in 2016. In addition to median
days on market, the average sale-to-list price ratio and home price
growth, Redfin ranked the neighborhoods’ competitiveness based on the
percentages of homes that sold for all cash and that sold for more than
their asking price.

The nation’s 30 most competitive neighborhoods for homebuyers in 2016
spanned just six metropolitan areas. Seattle was home to 10 of the
country’s 30 most competitive neighborhoods.

Eight Boston-area neighborhoods ranked, led by Washington Square
(Brookline) and Prospect Hill (Somerville). Denver had seven hoods in
the top 30, including Lakeside and West Pleasant View (Golden). Three
San Francisco neighborhoods made the list. Washington, D.C. and Los
Angeles also cracked the top 30, each with one neighborhood named.

To read the full report, including the top 30 ranking with relevant
additional data and insights, please visit: https://www.redfin.com/blog/2016/12/most-competitive-neighborhoods-of-2016.html.

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About Redfin Corporation

Redfin (www.redfin.com)
is the next-generation real estate brokerage, combining its own
full-service agents with modern technology to redefine real estate in
the consumer’s favor. Founded by software engineers, Redfin has the
country’s #1 brokerage website and offers a host of online tools to
consumers, including the Redfin
Estimate
, the highly accurate automated home-value estimate.
Homebuyers and sellers enjoy a full-service, technology-powered
experience from Redfin real estate agents, while saving thousands in
commissions. Redfin serves more than 80 major metro areas across the
U.S. The company has closed more than $31 billion in home sales and
saved customers more than $335 million in fees through 2015.

For more information or to contact a local Redfin real estate agent,
visit www.redfin.com.
To learn about housing market trends and download data, visit the Redfin
Data Center
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Contacts

Redfin Journalist Services:
Keena Bean, 206-588-6863
press@redfin.com