REDFIN’S 2018 HOTTEST NEIGHBORHOODS LIST
(Original article from in the San Jose Mercury News, here)


Topping the list is San Jose’s Buchnall neighborhood, where the median sale price last year was $1.57 million and 100 percent of homes sold for above list price. In recent weeks, Masching said, open houses have been swamped, homes have been getting 15 to 20 offers each, and people have taken off work to check out houses the moment they come on the market. She’s also noticed something else: “What we’re seeing is a disregard for recent comparable sales and people deciding what the home is worth to them and just giving that as their offer.” Redfin created the list based on the increase in the number of homes marked as “favorites” in each area and the number of page views on Redfin.com. In December, the San Jose area had the lowest rate of homes per sale that Redfin had ever recorded — anywhere in the country — and its home prices rose a whopping 31.9 percent from the previous year.

1. Bucknall (San Jose) Median Sale Price (Dec. 2017): $1,565,000 Percent of Homes that Sold Above List Price (Dec. 2017): 100 percent How much above list price: 23.8 percent

2. Cambrian (San Jose) Median Sale Price (Dec. 2017): $1,244,000 Percent of Homes that Sold Above List Price (Dec. 2017): 100 percent How much above list price: 18 percent

3. White Oak (San Jose) Median Sale Price (Dec. 2017): $1,010,000 Percent of Homes that Sold Above List Price (Dec. 2017): 66.7 percent How much above list price: 5.7 percent

4. Ortega (San Jose area) Median Sale Price (Dec. 2017): $1,920,000 Percent of Homes that Sold Above List Price (Dec. 2017): 100 percent How much above list price: 16.5 percent

5. West Santa Clara (San Jose area) Median Sale Price (Dec. 2017): $1,237,500 Percent of Homes that Sold Above List Price (Dec. 2017): 90.3 percent How much above list price: 16.1 percent

6. Sunnyvale West (San Jose area) Median Sale Price (Dec. 2017): $1,945,000 Percent of Homes that Sold Above List Price (Dec. 2017): 91.3 percent How much above list price: 18.3 percent

7. Lakewood (San Jose area) Median Sale Price (Dec. 2017): $1,200,000 Percent of Homes that Sold Above List Price (Dec. 2017): 92.3 percent How much above list price: 21.3 percent

8. Sunnyside (San Francisco) Median Sale Price (Dec. 2017): $1,272,500 Percent of Homes that Sold Above List Price (Dec. 2017): 89.5 percent How much above list price: 25 percent

9. Blacow (San Jose area) Median Sale Price (Dec. 2017): $1,005,000 Percent of Homes that Sold Above List Price (Dec. 2017): 91.7 percent How much above list price: 9.4 percent

10. Rex Manor (San Jose area) Median Sale Price (Dec. 2017): $1,500,000 Percent of Homes that Sold Above List Price (Dec. 2017): 83.9 percent How much above list price? 14.4 percent Source: Redfin

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