Half of this year’s top neighborhoods to watch are located in Virginia, Florida, North Carolina and Tennessee, according to a report from Redfin.
Redfin said it developed the list by identifying the neighborhoods with the greatest year-over-year growth in listing pageviews on Redfin.com and through speaking with agents about what areas are seeing rising interest from homebuyers.
According to the report, seven of the top 10 neighborhoods to watch in 2020 have median sale prices of less than $500,000; three fell below the 2019 national median price of $279,900. Half of the neighborhoods also have median sale prices that are less than their respective metro areas.
“The affordability crisis has caused people seeking single-family homes to search in areas they may not have considered before,” Redfin Chief Economist Daryl Fairweather said in a release. “Homebuyers continue to be priced out of Washington, D.C. and New York, so you’re seeing a lot of northerners moving to the Southeast, but even people from as far away as California are migrating there.
“The overall U.S. economy is doing better, so people feel more comfortable leaving the biggest job centers for small job centers,” Fairweather said. “Plus, the Southeast is becoming more metropolitan, with new restaurants and amenities that cater to younger people.”
Redfin said the top neighborhood to watch in 2020 is Willowsford, Ashburn, Va. (median sale price $918,059); followed by Bal Harbour, Fla. (median sale price: $747,500); Wildwood, Charlotte, N.C. (median sale price $181,000); West Arvada, Colo. (median sale price $376,500); and Waverly Hills, Arlington, Va. (median sale price $322,500).
Rounding out Redfin’s list are Adamsdale, North Attleboro, Mass. (median sale price $400,000); Poplar Grove, Indianapolis, Ind. (median sale price $182,300); West Ridge, Woodinville, Wash. (median sale price $934,997); Raleigh, Memphis, Tenn. (median sale price $96,450); and Old Town Rocklin, Sacramento, Calif. (median sale price $499,995).