Photo: Darshan Simha/Flickr
According to a recent report from real estate website Redfin, three of the 30 most competitive neighborhoods in the US are located in San Francisco. Inner Richmond, Dolores Heights and Parkside ranked fifth, sixth and 29th, respectively, meaning that homebuyers in those areas must routinely contend with “bidding wars, escalating prices and fast sales.”
Inner Richmond and Parkside are both located in the “Avenues,” where more centralized San Francisco locals rarely venture. These sleepy enclaves are often heavily misted with fog, and are close to Ocean Beach, Stern Grove Park and Golden Gate Park. They’re generally cheaper areas to live, and because of their proximity to Chinatown are home to many Asian Americans.
Dolores Heights, nestled between the Castro and Noe Valley, lies parallel to Dolores Park. The hills in the neighborhoods are a workout, but once ascended give terrific views of the city below.
Other cities with a slew of competitive neighborhoods include Seattle, Boston and Denver. Seattle is home to 10 of the nation’s 30 most competitive neighborhoods, while Boston has eight and Denver has seven. While Seattle’s dominance might seem surprising, it’s no secret that its booming tech industry is making it a popular place to live.
Below you’ll find Redfin’s findings on Inner Richmond, Dolores Heights and Parkside. It’s worth nothing that homes in all three of those neighborhoods tend to sell for higher than their original listing price, and that a high percentage of buyers in those areas pay entirely in cash.
#5 — Inner Richmond
- Median sale price: $1.9 million
- 2016 home price growth: 26 percent
- Average sale-to-list price: 111.5 percent
- Percent sold above asking: 83 percent
- Median days on market: 13
- Percent all cash: 33.8 percent
#6 — Dolores Heights
- Median sale price: $1,895,000
- 2016 home price growth: 30.7 percent
- Average sale-to-list price: 108.3 percent
- Percent sold above asking: 68 percent
- Median days on market: 14
- Percent all cash: 36.2 percent
#29 — Parkside
- Median sale price: $1.28 mil.
- 2016 home price growth: 13.8 percent
- Average sale-to-list price: 113.4 percent
- Percent sold above asking: 77.3 percent
- Median days on market: 18
- Percent all cash: 31.6 percent