“Hot” is a subjective term in any context, including real estate. While it’s possible to measure the number of sales, price increases and how quickly homes sell, what draws one buyer doesn’t always appeal to other buyers.
Redfin’s analysis — based on the median sales prices in 2019; percentage of homes that sold above the list price; and median days on the market — also relied on which neighborhoods have the biggest increases of page views on the brokerage’s website in 2019 compared to 2018. Redfin agents were also consulted to get their input into which neighborhoods were seeing the most interest from buyers.
The No. 1 neighborhood, Willowsford, had 16.3 percent of its homes sell for more than the asking price in 2019. The median sale price in the community was $918,059, which makes it one of the few communities on the top 10 list where prices are above $500,000 and above the regional average. Seven of the top 10 neighborhoods nationally had prices below $500,000.
Why Willowsford? Redfin Virginia team manager Irene DeLeon said it’s the lifestyle more than the homes that attracts buyers. Willowsford is known as an “agrihood” with a working farm at the center of the community’s activities.
“On any given weekend the community has various events going on, people are out walking their dogs on the miles of nature trails or visiting the local farm to buy their organic vegetables,” said DeLeon. “It’s not too far from downtown Washington, D.C., so it’s perfect for buyers who are looking for that blend of urban and rural environments. Recently, we helped a couple who were so set on living in Willowsford that they wouldn’t even consider looking anywhere else. They were in a townhouse before and we helped them find a new home that gave them plenty space for their adult children and future grandchildren to come visit."
Other communities on the Redfin list include:
2. Bal Harbour in Fort Lauderdale
3. Wildwood in Charlotte
4. West Arvada in Denver
5. Waverly Hills in Arlington, Va.
6. Adamsdale in North Attleboro, Mass.
7. Poplar Grove in Indianapolis
8. West Ridge in Woodinville, Wash.
9. Raleigh in Memphis
10. Old Town Rocklin in Sacramento
In Waverly Hills, the median sales price in 2019 was $322,500, below the $412,333 median sales price for the D.C. metro area. Fifty-one percent of the homes sold for more than the list price and homes sold in a median of six days in 2019.
“In Waverly Hills, buyers are drawn to the unique character and beauty of the homes,” said Candee Currie, a Redfin agent in Arlington. “Not one of them is the same, but there is an overall warm and welcoming feel to the community. The neighborhood has become very competitive, so buyers should be prepared to compete with multiple bidders and get creative with their offer in order to win a home there. For those that do, it’s a wonderful place to live close to the amenities of downtown D.C.”
For the full report, click here.
