Redfin: Humboldt Park 10th Hottest Neighborhood in America in 2014
HUMBOLDT PARK — Move over, Logan Square. This year, online real estate brokerage Redfin has placed Humboldt Park in its top 10 "hottest" neighborhoods in terms of predicted home sales for 2014, putting it in 10th place.
Last year, Logan Square seemed an obvious choice when Redfin named it eighth hottest for 2013. Even with its growing number of bars and restaurants creating a veritable playground for young professionals, the neighborhood was still affordable enough for many young families.
Prices continue to climb in Logan Square though, and Redfin CEO Glenn Kelman predicts homebuyers will be willing to look outside the trendiest neighborhoods for something a bit more affordable.
“After a year in which prices popped 13 percent, Americans are checking out still-close-in but often-overlooked neighborhoods in search of affordability, even if means less-fashionable restaurants or a home that needs a little more work,” Kelman wrote in the Redfin report.
Redfin recorded a 168 percent jump in pageviews for Humboldt Park, which had a median home sale price of $189,450, according to the report.
Local Redfin agent Clayton Jirak elaborated on what made Humboldt Park so potentially attractive to buyers.
"Consistent price increases in neighboring Wicker Park and Logan Square have caused home buyers to settle in nearby Humboldt Park, where prices are lower and space is more abundant than in the more expensive areas nearby," he wrote. "Humboldt Park has a wide variety of historic homes as well as new construction homes with green features, all creating an eclectic mix of housing options for those looking to buy."
The list was topped by Bernal Heights in San Francisco, followed by Eagle Rock in Los Angeles. Unlike last year's California-dominated list though, that was it for the golden state. The list was rounded out by neighborhoods in Atlanta; Washington, D.C.; Las Vegas, Austin, Texas; Seattle; Portland, Ore., and Denver.
The report also featured expanded coverage of local real estate markets.