Most Competitive U.S. Neighborhoods for Homebuyers in 2019 Revealed

WORLD PROPERTY JOURNAL | December 27, 2019

According to new research by Redfin, the San Francisco Bay Area neighborhood White Oaks is the most competitive neighborhood of the year for homebuyers. Alger Heights in Grand Rapids, MI and East Arlington in Boston rounded out the top three competitive neighbourhoods. "While neighborhoods in the Bay Area and Boston are still among the most competitive in the country, robust competition for homes in Grand Rapids, Minneapolis and Tacoma neighborhoods signals the desirability of more affordable areas," said Redfin chief economist Daryl Fairweather. "An influx of buyers from more expensive neighborhoods contributes to competition in these affordable neighborhoods, especially because they can make higher offers than local residents when they sell their previous homes." Of the 10 Bay Area neighborhoods among the most competitive in the country, half are in Oakland. Although the median sale price in Oakland is more than double the national median--$720,000 versus $312,000 for the typical home in the U.S. in November--it's still well below that of San Francisco ($1.4 million) and San Jose ($1.1 million).

Spotlight

Private real estate outperformed most sectors globally in 2022, rewarding investors who continued to increase their allocations to the sector over the last decade. However, we expect to see pockets of softness in 2023, including value losses in some markets and sectors. But even as the market slows, opportunities will remain in commercial real estate.

Spotlight

Private real estate outperformed most sectors globally in 2022, rewarding investors who continued to increase their allocations to the sector over the last decade. However, we expect to see pockets of softness in 2023, including value losses in some markets and sectors. But even as the market slows, opportunities will remain in commercial real estate.

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