15 ‘Hottest’ Home Sales Markets Aren’t Where You’d Expect
What’s the hottest real estate market in the U.S. now? The answer’s not San Francisco or Miami, two cities that can be fraught with runaway housing prices and bidding wars. Denver, Seattle, Portland, Boulder, and Vallejo, California, instead, are the top five hottest markets of 2016, according to Redfin’s analysis of homes that are likely to sell the fastest.
Home prices are just one indication of a neighborhood that’s in high demand. “Hot” homes, according to Redfin, have a 70 percent chance of coming off the market in two weeks. Redfin’s 15 hottest markets have the highest percentage of “hot” homes among its nearly 100 metropolitan data points between January 1 and June 8, 2016.
Although San Francisco didn’t make the top of Redfin’s “hottest” markets list, homes there still tend to sell quickly. The median amount of time to sell in that city is 18 days, according to Redfin’s most recent data from the month of May. Of note, one sought-after market not in the list is New York City, for which Redfin doesn’t have complete data.