Right in the heart of the Silicon Valley lies San Jose, the largest city in the Bay Area that’s home to some of the biggest and most popular tech companies in the world. Now, it has one more badge of honor to pin on its symbolic chest: nine of Redfin’s 10 Hottest Neighborhoods in 2018 are located in the San Jose metro area.
The web-based real estate company based its report on increases in favorites and visits to home listings on its website.
With the continuous growth of tech companies in Silicon Valley comes an increase in home prices and values. Redfin reports that tech workers have been in search of affordability, following companies like Google and Apple to downtown San Jose and nearby Sunnyvale and Cupertino.
"While the San Francisco peninsula has traditionally been the hottest of the hot places, we’re seeing it become unaffordable for even the tech giants that helped create its demand in the first place," said Redfin Silicon Valley agent Kalena Masching. "The result has been a tech-worker migration to the South Bay charged by people looking for relative affordability, highly rated schools, short commutes and access to jobs."
The increased demand for homes in San Jose has resulted in a shortage supply, according to Redfin. In December, San Jose had the shortest supply, higher price growth and a faster pace of home sales than any other market.
The Bucknall neighborhood in San Jose locked up the No. 1 spot on the list. With access to neighborhood perks like nearby grocery stores, gyms, highly-rated schools and a movie theater, Masching claims a typical home in Bucknall goes off the market in just eight days.
"Bucknall has a ton of single-family homes, which sets it apart from many neighborhoods in the area that have more mixed-use or multi-family homes," Masching told Redfin.
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With easy access to public transit and freeways, its proximity to downtown Campbell and Willow Glen and its highly-rated schools, Cambrian is listed at No. 2.
"Compared to other neighborhoods in San Jose, you get more home for your money," said Redfin San Jose agent Kimberly Douglas.
Ideal for first-time homebuyers, lower prices, highly-rated schools and green scenery makes White Oaks No. 3. Ortega in Sunnyvale is listed at No. 4 and according to Redfin Silicon Valley agent Martin Garcia, "Homebuyers like Ortega because of its proximity to the Cupertino and Santa Clara Apple campus, its highly rated schools and its access to highways 101 and 280."
Close to San Jose International Airport, West Santa Clara is listed at No. 4. Its proximity to Koreatown makes it ideal for those who like American and Korean cuisine.
For those who appreciate rich history, Sunnyvale West — listed at No. 6 and located in Sunnyvale— is filled with "century-old homes intertwined with new construction," Redfin Silicon Valley agent Chad Eng said. "There are lots of community events in the summer, like concerts and movies in the streets, farmers markets and jazz bands that play along the sidewalk."
At No. 7 is Lakewood, which Redfin Silicon Valley agent Jason Burkhart described as "one of the few remaining places in the San Jose metro area where people can get a home for less than $1 million."
At No. 8 is Sunnyside in San Francisco, the only spot on the list that is not in the San Jose area.
Blacow in Fremont, which is listed at No. 9, is known for its affordability and increasing school ranking in the area. Redfin Fremont agent Kat Said said nearby mall, NewPark Mall, "has some of the best restaurants in town and is a short car ride away from most homes in Blacow."
Taking the last spot on the list is Rex Manor, which is located in Mountain View. Residents of the No. 10 listing are no strangers to seeing people ride their bikes to Google, Shoreline Park and the Shoreline Amphitheatre.
"The area still has some relatively affordable homes, and we’re seeing a lot of attention from the investment community where people come in and buy up the older homes under 1,400 square feet and turn them into modern, technology-filled homes that sell like hotcakes," Masching said.
