Redfin names the hottest neighborhoods of 2014

January 16th, 2014

According to Redfin, homebuyers are going to be looking at more affordable neighborhoods in 2014.

Real estate company Redfin predicted neighborhoods that will be the most popular in 2014.

According to the report, neighborhoods in the top 10 were sought for their prestigious school systems and community parks. Additionally, they had affordable prices and easy access to business centers – via a short drive or nearby access to commuter rail stations – to allow for shorter commutes.

Redfin CEO Glenn Kelman noted that the top locations eclipsed other neighborhoods because they offer reasonable prices while others have been appreciating – 13 percent in 2013 – starkly during the housing recovery. Although these neighborhoods would usually be second-rate to other locations and there may be more fixer-uppers, they fit the stringent price demands of today’s buyers:

  1. Bernal Heights North Slope in San Francisco
  2. Eagle Rock in Los Angeles
  3. Morningside-Lenox Park in Atlanta
  4. Upper Chevy Chase in Washington, D.C.
  5. Desert Shores in Las Vegas
  6. Barrington Oaks in Austin, Texas
  7. Phinney Ridge in Seattle
  8. Concordia in Portland, Ore.
  9. City Park in Denver
  10. Humboldt Park in Chicago

During the last housing boom, homebuyers went for more expensive properties with the intention of borrowing more to get what they want. However, today’s buyer is not afraid of using a little elbow grease to make a second-rate space feel like a luxury home.