Terry Fleischman, the home ownership director with the Westchester Housing Council, talks about the informational workshop for the Antioch Homes Apartments in Bedford Hills, Aug, 12, 2017.
Home shoppers in the Lower Hudson Valley might have felt discouraged lately, thinking that the housing market here is too hot to compete.
But things can be much worse: Neighborhoods in Seattle, Boston, San Francisco and Denver have been ranked as extremely competitive by Redfin, according to an article published by The Desert Sun in Palm Springs, California, part of the USA Today Network.
What exactly does “competitive” mean? In the No. 1 neighborhood on Redfin’s list, Factoria, Seattle, prices rose by more than 25 percent in 2016, homes spent a median of 7 days on the market, and about 46 percent of homes were purchased with all cash, the report said.
Not a single neighborhood in New York State made it to the top 30 list.
DESERT SUN: Craziest neighborhoods for homebuyers last year
Redfin’s 2016 report analyzed neighborhoods in 27 metro areas in the nation. The five market factors — including year-over-year median sale price growth, percentage of listings sold above asking price, median days on market, average ration of sale price to list price, and percentage of homes that sold for all cash — were analyzed to rank neighborhoods, according to Redfin.
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