For first-time (or, really, anytime) homebuyers, the biggest question is: where should I live? A new list may help you narrow down your options.
On January 28, real estate brokerage Redfin released its annual ranking of the hottest neighborhoods to watch in 2020. Along with listing the 10 hottest 'hoods in the nation (we'll get to those later), Redfin also crunched neighbors on the three buzziest communities in San Antonio and 60 other major metro areas.
To find these hot spots, Redfin examined neighborhoods with the greatest year-over-year growth in listing pageviews on Redfin.com and talked to local realtors. "Some of the neighborhoods included may not meet the conventional definition of 'hot,'" the company hedges in a release, "but are still trending among homebuyers."
In San Antonio, the three hottest neighborhoods are located all across the city, with prices ranging from the $280s to the high $400s— all well above the city's median price of $231,844.
West Canyon Lake
Located about 45 miles from downtown San Antonio is Canyon Lake, an idyllic spot often called "the jewel of the Hill Country." West Canyon Lake is situated to the northwest of the actual lake, and features a median sale price of $284,000.
About 25 percent of homes sold in West Canyon Lake sell for more than $284,000, and on average, a property spends only about 75 days on the market, giving sellers a slight advantage.
Downtown San Antonio
Construction crews and cranes are evidence of San Antonio's booming downtown district. Not content to build just office buildings and cultural attractions, however, developers are also adding housing, transforming downtown into one of SA's hottest places to live.
It'll cost you, though. The median price for a home in downtown is $415,00, almost $200,000 more than the citywide median. Though only 2.7 percent of homes are sold for more than that number and an average property spends about 100 days on the market, giving buyer's a little more power.
Not far from West Canyon Lake is the suburb of River Chase, a family-friendly suburb just north of New Braunfels. With a median price of $460,327, nearly double the median price in San Antonio, River Chase is also the most expensive on the list.
Homes in River Chase spend about 51 days on the market, the lowest among Redfin's local picks, and underscoring this community's desirability factor.
As for the 10 hottest neighborhoods in the U.S., no Texas cities made the list. Instead, it concentrated largely on the Southeastern U.S., with the Washington, D.C. metro area making two appearances, likely thanks to Amazon's HQ2 announcement last year. The 10 Hottest Neighborhoods to Watch in 2020 are:
- No. 1 — Willowsford, Ashburn, Virginia (Washington, D.C. metro)
- No. 2 — Bal Harbour, Fort Lauderdale, Florida
- No. 3 — Wildwood, Charlotte, North Carolina
- No. 4 — West Arvada, Colorado (Denver metro)
- No. 5 — Waverly Hills, Arlington, Virginia (Washington, D.C. metro)
- No. 6 — Adamsdale, North Attleboro, Massachusetts
- No. 7 — Poplar Grove, Indianapolis
- No. 8 — West Ridge, Woodinville, Washington (Seattle metro)
- No. 9 — Raleigh, Memphis, Tennessee
- No. 10 — Old Town Rocklin, California (Sacramento metro)