Redfin: Hottest U.S. neighborhood is Oakland’s Bushrod, with Sunnyvale’s Serra close behind

Sometimes it seems like every Tom, Dick and Harry is rating the hottest neighborhoods in the nation for real estate.

Still, when Redfin does it, potential home buyers tend to pay attention. And according to Redfin, the hottest neighborhood in the U.S. in 2017 will be Oakland’s Bushrod, nestled in the northern part of the city near trendy Rockridge and Temescal. It’s within walking distance of BART and the cool restaurant strip on College Avenue.

The neighborhood’s median sale price is $817,000, but don’t count on that to remain the same.

Redfin agent Tom Hendershot said in this morning’s release: “Homebuyers often come to the area hoping to find something in Rockridge and ultimately realize they can have an even better lifestyle at a lower cost in Bushrod. This may not last for long though — a two-bedroom starter home in this neighborhood recently sold for $200,000 over the list price and was off the market in 10 days.”

Redfin’s predictions for the nation’s 10 Hottest Neighborhoods also includes (in the No. 3 position) Sunnyvale’s Serra Park, where the median price is $1,760,000, and (in the No. 8 position) Sacramento’s Hollywood Park, where the median price of a home is way, way more affordable: $345,000.

To arrive at its list, the brokerage says it analyzed hundreds of millions of page views to Redfin.com, paying special attention to homes “favorited” by users to monitor for price and status changes. Interviews with Redfin agents in 39 major U.S. metros also played into the formulation of the list.

Here’s the Top 10, with median prices and average days on market

  1. Bushrod, Oakland, CA                       $817,000      49 days on market
  2. Woodridge, Bellevue, WA                 $720,000     37 days on market
  3. Serra, Sunnyvale, CA                          $1,760,000  42 days on market
  4. Somerset, Glendale, CA                      $459,700     61 days on market
  5. Eliot, Portland, OR                              $499,000     54 days on market
  6. Edgeworth, Malden, MA                    $426,000     64 days on market
  7. Colonial Village, Washington, D.C.  $772,500      79 days on market
  8. Hollywood Park, Sacramento, CA    $345,000      47 days on market
  9. Greenfield, Aurora, CO                        $455,000     70 days on market
  10. Treme, New Orleans, LA                     $199,200      261 days on market

Separately this morning, Redfin issued a report stating that the nation’s housing supply hit a three-year low in December as home prices continued to climb. It said the most competitive markets were San Francisco, where 52.0 percent of homes sold above list price, followed by 51.7 percent in Oakland, , 50.1 percent in San Jose, 38.4 percent in Seattle, and 36.6 percent in Tacoma, WA.

Photo: A “sale pending” sign outside a home. (Paul Sakuma/AP)

 

 

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