Wynwood ranked South Florida’s hottest neighborhood

Posted on 23 Jan 2015 in Miami What's New | 0 comments

Wynwood is the hottest South Florida neighborhood in 2015, according to a Redfin ranking released Thursday.

Coral Terrace, South Golden Glades, Buena Vista and Golden Pines followed. The median sales price in the Wynwood Art District was $373,000 and homes spent an average of 94 days on the market. The hottest neighborhoods were ranked by affordability and convenience.

wynwood“Considered by many the ‘Brooklyn of the South,’ Wynwood is a popular destination among professionals who seek to live in a hip and vibrant neighborhood,” Redfin agent Aaron Drucker said in a statement.“Wynwood is also one of the few remaining neighborhoods where you can enjoy a beer for under six bucks, depending on the venue.”

Redfin used data based on pageviews and user favorites, as well as insight from the company’s local agents, to come up with the lists. The brokerage released the 10 hottest neighborhoods of 2015, as well as the five hottest neighborhoods in each of its 27 metro areas.

“Many homebuyers have recoiled from the dramatic increase in house prices in urban centers posted over the past three years,” Redfin chief economist Nela Richardson said in a news release. “They are now searching for more affordable places farther out. Expect the neighborhoods on this list to see high demand in 2015 as rock-bottom mortgage rates and a more lenient mortgage lending environment help make homeownership in expensive cities less costly”.

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