Lists and rankings of neighborhoods in the US are based on the number of sales, home value increase year over year, and how long a home will stay on the market, however, these are just numbers and statistics. What might be important to one homeowner may not be the same for another. The appeal of a home or neighborhood will come down to not just the home value or days on the market.
Neighborhoods attract a lifestyle or a potential lifestyle. Trail systems, playgrounds, school systems, and even community events will attract buyers to spend more for the lifestyle they would like for themselves and their family.
Willowsford ranked number 1 on Redfin’s list, where 16.3 percent of the homes listed and sold went for more than the asking price. The median sale price in the community was $918,059. Seven of the top 10 neighborhoods nationally had prices below $500,000, which makes Willowsford one of the few on the list with prices above $500,000.
So, why would buyers be willing to spend this amount? Redfin team manager Irene DeLeon said it’s the lifestyle buyers are attracted to. Willowsford is known as an “agrihood”, which means there is a farm at the center of the community. This coupled with the fact that the neighborhood is within driving distance to downtown Washington, DC is where the value lies. Families can have the peace and quiet of a rural environment, with the option to get to the city and take in all that DC has to offer.
Waverly Hills was ranked number 5 on the list, where the median sales price in the community was $322,500. Fifty-one percent of homes in the community sold for more than their listing price, and homes sold in a median of six days on the market.
Buyers are attracted to Waverly Hills homes’ unique character and charm. The community has a welcoming feel even with homes being so diverse. It all works together to create a warm, charming community. Buyers looking in this neighborhood should be prepared for a competitive market with multiple bidders.
See the full Redfin list for a breakdown of the other markets.
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