An Unsuspecting Neighborhood Was Predicted the Sixth Hottest in the U.S.
When you think of all of the hip neighborhoods Americans are flocking to right now, which ones come to mind? An oh-so-cool corner of Portland, Oregon? Maybe somewhere in California?
National real estate brokerage Redfin just released its predictions for the 10 hottest neighborhoods of 2017. At number six is Malden’s Edgeworth neighborhood, the original home of the Converse Rubber Factory. The village at the southwest section of the city is apparently very cool.
“This neighborhood is cornered by the adjacent and already-hot Medford, which has seen a lot of long-time residents sell older homes to developers, who’ve then renovated them and then sold them for increased prices. That’s now starting in Edgeworth as well and much of the rest of Malden,” says Redfin agent Steven Novak.
While Malden isn’t as close to downtown Boston as, say, Cambridge, there’s easy access to public transit.
“In Edgeworth, you’re within walking distance of both the Malden Center Orange Line T station and the Wellington Orange Line T station, which makes commuting downtown very doable,” says Novak. “And home prices, though elevated from what they were several years ago, are more affordable than Medford and the trendiest towns like Cambridge and Somerville.”
Edgeworth was beat out by the likes of Bushrod in Oakland, California, Woodridge in Bellevue, Washington, Eliot, in Portland, Oregon, and a few other spots in California.
Redfin predicted the 10 hottest neighborhoods in the country by diving into its website data. Analysts measured which areas had the highest increase in total page views as well as the number of favorites marked on Redfin’s site and app over the second half of 2016. According to Redfin, its predictive model is usually correct when it comes to foreseeing increases in transactions and prices. Right now, Malden’s median sales price is an estimated $435,000.
In addition to its national neighborhood rankings, Redfin also created a neighborhood breakdown for the Boston metro area. Edgeworth reigned supreme as the hottest neighborhood in the city, followed by downtown Everett, which has a median sales price of $445,000. Boston’s third hottest neighborhood is another Malden spot: Maplewood. Maplewood is almost a mile from Malden’s downtown area, but boasts three public parks, shops, and restaurants.
You can see the entire breakdown here.