A South Philadelphia neighborhood has been ranked by Redfin as one of the “hottest” neighborhoods in the country.
Dickinson Narrows (or Dickinson Square West), a sliver of South Philly between Pennsport and East Passyunk, ranked second on Redfin's "Hottest Neighborhoods of 2015" list, which predicts which areas will draw the most buyers this year. San Diego's El Cerrito neighborhood took the top spot.
The real estate website found affordability to be the most important factor for finding a new home in 2015. According to Redfin, a median sale price in Dickinson Narrows is $192,000.
"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 the report. "They are now searching for more affordable places farther out."
The report also broke down the top five neighborhoods for each major metro area. Here are the Philly findings:
And here's what local agent Blakely Minton had to say about the South Philly neighborhood:
"Compared to its nearby counterparts Pennsport and East Passyunk Crossing, Dickinson Narrows offers an affordable option to Philly homebuyers looking for the amenities of downtown living. It's also located in South Philly, which is becoming a hotspot for first-time homebuyers and suburban relocators. Dickinson Narrows has its own enclave of popular restaurants and bars and it's surrounded by scenic parks and playgrounds. Housing in the area consists of new construction, rehabbed housing and older homes available for around $235,000. It's also one of the few neighborhoods downtown you'll find with spare parking and garages, which is at a premium in South Philly. With I-95 right on the outskirts of the neighborhood, it's easy to roll out of town for a weekend getaway too."
To find the results, Redfin looked at which areas saw the biggest increase in page views and favorites on the site.
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