Technology hubs overlapped with the nation's hottest housing markets in 2015, according to a ranking published on Dec. 29 by online brokerage Redfin.
The Seattle firm found that the 30 most competitive neighborhoods for home purchases are located in only four cities — Boston, Seattle, Portland and San Francisco — which are also characterized by a boom in high-paying jobs in technology, pharmaceutics and finance.
"That has heated up the local housing market," said Redfin's chief economist Nela Richardson in the company's press release. "When a short supply of homes collides with high-income homebuyers, you get this hot, hyper-competitive climate."
Topping the list is Inman Square in Boston, which was followed by Overlake in Seattle, Brighton/Allston in Boston and Roosevelt in Seattle. Hawthorne in Portland stood at No. 5, followed by Spring Hill in Boston, Grass Lawn in Seattle and Central Sunset in San Francisco.
The ranking was obtained from a combination of indicators including the percentage of homes sold above asking price, the speed of contract completion and the proportion of bidding wars the markets instigated on Redfin's website.
