On January 28, 2016, residential real estate company and website giant Redfin released predictions for the hottest U.S. neighborhoods in 2016. (See Redfin Predicts South Florida’s Hottest Neighborhoods In 2016). Data scientist Troy Martin authored the article, with contributions from local real estate agents.
Redfin expects Coral Terrace, Sunset, and Granada will be the hottest neighborhoods for the Miami-Miami Beach-Kendall metro area in 2016. Coral Terrace has 37 Median Days on Market and 98.2% Average Sale-to-List, Sunset has 46 Median Days on Market and 87.3% Average Sale-to-List, and Granada has 63 Median Days on Market and 95.8% Average Sale-to-List. Realtor Cecilia Cordova reports homeowners can’t afford to live Coral Gables, and are turning to these neighborhoods as an alternative.
As to the West Palm Beach-Boca Raton-Boynton Beach metro, Riverwalk Town Center, Downtown West Palm Beach, and Golden Lakes are predicted to thrive in 2016. Riverwalk Town Center has 28 Median Days on Market and 96.6% Average Sale-To-List, Downtown West Palm Beach has 60 Median Days on Market and 93.2% Average Sale-to-List, and Golden Lakes has 44 Median Days on Market and 96.2% Average Sale-to-List. Realtor Delray Valle states Riverwalk has lower prices than Wellington/Royal Palm Beach for similar homes, and has ease of access to transportation and amenities.