Back in January, Redfin released a list of the ten hottest neighborhoods in the nation for homebuying and Phinney Ridge came in seventh overall. That seemed to bear out as we saw bidding wars like this one play out. Turns out, however, that the neighborhood was less hot than it was slightly lukewarm...
...not all our predictions came true. In Seattle's Phinney Ridge, the median sale price is down 3 percent since last year and fewer homes are selling above list price. "Phinney Ridge is a desirable area where homes still receive multiple offers," said Seattle Redfin agent Robin McCue. "But competition has been less intense as homebuyers began to expand their search to more affordable areas."
So which Seattle neighborhood is hot? Redfin says it's actually Roosevelt, where the median list price is currently $544,975. Right now there are two homes on the market in that range, a Lake City Way 3-BR for $559K and a 14th Ave 3-BR for $559K.
· Hot or Not? Redfin Revisits Predictions for Hottest Neighborhoods of 2014 [Redfin]
· Phinney Ridge Is 7th Hottest Neighborhood In The Nation [CS]
· Phinney Ridge Bidding War Ends 21% Over Asking Price [CS]