In early 2017, Redfin predicted that the Bushrod section of Oakland would be the hottest neighborhood in the U.S. this year. Sure enough, the median off-market home value is up 8.9 percent since then, outpacing the gains of Oakland’s metro area value by four percentage points.
Redfin followed up on its February predictions of the nation’s hottest neighborhoods. Along with Bushrod, the site was correct about Eliot in Portland, Colonial Village in D.C., and Sacramento’s Hollywood Park. Eliot, for example, has seen 7.4 percent growth in its median off-market home value, faring better than the growth of median value of the Portland metro as a whole (3.1 percent).
Redfin isn’t Nostradamus, though, as five of the 10 neighborhoods are actually considered cool, where the neighborhood’s growth is below the metro area’s. Treme in New Orleans is the biggest misfire, where the median value dipped 4.6 percent since February.
Additionally, Redfin ranked the hottest neighborhoods to close out 2017, a prediction based on home-listing page views and favorites on Redfin.com. First Hill in Seattle, Golden Gate Heights in San Francisco, and Bucknall in San Jose led the list.
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