Seattle, Philladelphia and Vegas made it toward the upper end of the coveted list. But one place in Florida claimed the top spot for the “Hottest Neighborhood in the U.S.”
It’s no question that Florida’s real estate market has always been hot, but this particular area saw housing prices nearly double from the beginning of 2016 to end of 2017.
The affordable and ideally situated city has a strong base of home buyers and they don’t hesitate when a property hits the market. The area boasts an impressive median of 10 days for houses on the market.
Just where is this hidden Florida gem? It is perfectly positioned near U.S. Highway 19, which connects St. Petersburg in the south to Clearwater to the north.
The neighborhood and its surrounding areas are poised to expected great future job growth, not to mention low unemployment.
Jungle Terrace in St. Petersburg, Florida takes top spot on hottest neighborhoods’ list
While Florida controlled many of the top 20 places, it was Jungle Terrace, St. Petersburg that stole the coveted #1 position.
Here are a few stats from GOBankingRates:
- Median list price July 2016: $165,999.50
- Median list price July 2017: $239,900
- Year-over-year change: 44.52 percent
- Median days on market: 10
GOBankingRates conducted a intensive study of over 1,700 to identify the top neighborhoods throughout the United States. The company paid close attention to trends in home prices, home availability and how long homes sit on the market, in order to find the neighborhoods that currently provide the best buying opportunities.
According to the report, “The neighborhood of Jungle Terrace has truly taken off, seeing home prices almost double from 2016 to 2017. At the same time, housing demand hasn’t let up, with the median time on the market spanning only 10 days.”
A word of warning: the market for homes in Jungle Terrace is in such high demand, it could make the cost of buying too expensive for many.
Several other Sunshine State jewels made the top 20 list as well. They are: