Redfin Identifies The Hottest Homes of 2014

December 16, 2014 12:56 PM ET

From Trendy Teardowns to Realistic Compromises, the Homes that Sold the Fastest and for the Highest Markup Vary Greatly by Market and Neighborhood

SEATTLE - Dec. 16, 2014:

For homebuyers in 2014, time was of the essence. Homes stayed on the market a median of 35 days, and about a third of homes went under contract within 14 days of their debut. In June, Redfin (www.redfin.com), the customer first real estate brokerage launched a website feature called Hot Homes to show customers which homes are likely to sell the most quickly, and to give them a better chance to land those hard-to-get homes. Redfin today released a report that highlights the "hottest" homes of the year across 17 markets, including those that sold the fastest, for the biggest markup above list price, and homes that were sold in several-person bidding wars.

While some of these homes conformed to the common stereotype of high-end houses in trendy neighborhoods fetching top dollar, not all did. Redfin found that hottest homes of 2014 fell into the following five categories:

Picture Perfects Awesome homes in neighborhoods with highly rated schools. They're in markets with strong economies and plenty of people with the money to pay a premium to get what they want. Where you find them: Atlanta, Boston, Denver, Oakland, Los Angeles, Portland, San Francisco, San Jose, Seattle and Washington, D.C.

Trendy Teardowns Dilapidated homes in gentrifying neighborhoods where prices are rising. Where you find them: Atlanta, Austin, Baltimore, Chicago, Denver, Los Angeles

Realistic Compromises Single-family homes in neighborhoods slightly more affordable than the absolute top-tier areas. Where you find them: Austin, Baltimore, Chicago, Houston, San Diego

Modest Flips Ordinary homes that can be minimally renovated, then resold at a reasonable profit. Where you find them: Houston, Phoenix

Distressed Deep Discounts Often found in areas that were hit hardest by the housing crisis, these homes are bank-owned and highly distressed. Where you find them: Atlanta, Orlando

To see photos and descriptions of the hottest homes of 2014 across 17 major U.S. markets, please visit: http://www.redfin.com/research/reports/special-reports/2014/hottest-homes-of-2014.html .

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About Redfin

Redfin (www.redfin.com) is a customer-first real estate brokerage that represents peoplebuying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools that make the entire process of buying or selling a home easier and more fun. The company serves major markets across the U.S. and has closed nearly $20 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.

Redfin Journalist Services [email protected] 206-588-6863

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