Two Northern California communities are among the nation's "hottest neighborhoods" of 2021 as homebuyers flock to new areas during the coronavirus pandemic.
Lake Tahoe topped Redfin's "hottest neighborhoods" list while Mountain House, a community in San Joaquin County on the eastern edge of the Altamont Pass, checked in at No. 10.
"The Lake Tahoe housing market is hotter than ever," Redfin real estate agent Jaime Moore said in a statement. "People are coming from San Francisco in droves and they’re bringing their Bay Area salaries with them — everyone here drives a Tesla now."
Redfin said home sales in Lake Tahoe jumped 87% year-over-year from October 2019 to October 2020, with the median sale price — $945,000 — up 28% during that time. Median views per listing soared 280%. The median number of days homes sat on the market — 48 — dropped by 25 days.
"The housing market in Lake Tahoe typically slows down in the winter months and ramps back up in the spring, but this year, we’re still seeing tons of buyers in December," Moore added. "Homes are listing for $500,000 and selling for $700,000. People are just sick of the city."
In Mountain House, home sales were down 15% year-over-year, but the median sale price was up 23% to $712,500 and the median views per listing was up 265%, according to Redfin. Available homes were also getting purchased quickly. The median number of days homes were on the market for was six, down 42 days from 12 months prior.
"Mountain House was hot before the pandemic, and now it’s even hotter," Redfin agent Ali Schneider said in a statement. "People were already moving out here because of the highly rated schools, and now we’re seeing even more families relocate to the area because Silicon Valley is shut down. They want more space and a backyard, and Mountain House offers that for a much better price."
Redfin said some neighborhoods on its list have been attracting people from cities who have shifted to working from home amid the pandemic.
"Remote work is allowing Americans to live where they actually want to live," Redfin Chief Economist Daryl Fairweather said in a statement. "People are no longer tied to the cities where their offices are located. Some folks are buying second homes in resort towns while others are moving to family-friendly suburbs where they can get more bang for their buck."
America's Hottest Neighborhoods of 2021, per Redfin:
- Lake Tahoe, Calif.
- Chester/Andover, Vt.
- Big Bear, Calif.
- Stratford, N.J.
- Sebago Lake, Maine
- Lakes Region, N.H.
- Fall River, Mass.
- Somerdale, N.J.
- Washington Township, N.J.
- Mountain House, Calif.