It's the season to predict the hottest neighborhoods in town, and the heat is rising in Riverside. The East Austin community ranks as Austin's hottest neighborhood for 2017, according to Redfin's annual predictions. The real estate brokerage firm determined the rankings based on search popularity in addition to feedback from local agents.
Riverside has a lot to offer its residents, too, says Austin agent Andrew Vallejo. "Hiking and biking trails have been revitalized, and being so close to the water is a big draw for many homeowners. There's also great dining, plenty of public transportation, and close proximity to the airport."
The median price for a home in that area is $266,500, and you'll have to act quick, because houses only last around 28 days on the market.
That's fast, but Montopolis is practically on fire. The homes in this adjacent neck of the woods are selling like hotcakes, only spending eight days on the market with a median price of $226,000. It's no wonder why Montopolis comes in as the second hottest 'hood.
The third hottest locale on Redfin's report is the combination of Northwest Hills and Far West — and it has a high price tag. Homes here will set you back $650,000 and spend 25 days on the market.
Redfin's top Austin neighborhoods differ from Zillow's predictions for the highest growth neighborhoods in town, but both real estate sites favor peripheral East Austin for 2017. This suggests that the predictably trendy sections of East Austin may be getting a little pricey for homebuyers, pushing them to the more affordable outskirts.
Redfin data shows this trend occurring across the country, as people are moving away from downtown areas even though that means a longer commute. Homes in outlying communities have "the best balance of everything: quick access to public transit, trendy shopping and dining options, plus larger move-in ready homes with charm and price tags that are a little easier to bear."