Redfin, an online real estate brokerage, named McDowell Mountain Ranch and Grayhawk the top two "hottest neighborhoods of 2014" in the Phoenix area.
("Phoenix area" meaning north North Scottsdale, in the case of these two neighborhoods.)
The company's calculation of the "hottest neighborhoods" is kind of funny, but two actual Phoenix neighborhoods did make the cut for the listing of the Phoenix area's top five 'hoods.
Here's Redfin's explanation of the process:
As we usher in the new real estate season at Redfin, a big question on our minds is: Which neighborhoods will be the darlings of 2014? In search of answers, we went to our website users, tallying hundreds of millions of pages they visited and homes they added as Favorites to monitor for price changes or sales. At the same time we asked hundreds of Redfin real estate agents across the country to share their insights on which neighborhoods are buzzing and why.
Whipping up this special cocktail of big data analysis and real-life human experience, we assembled our list of neighborhoods with the greatest growth in popularity over the last four months.
For the Valley, McDowell Mountain Ranch was at the top, followed by Grayhawk, the Willo Historic District, the North Encanto Historic District, and Lantana Ranch.
Willo (between First and Seventh avenues, and McDowell and Thomas roads) and North Encanto (between 15th and 16th Avenues, and Thomas Road and Earll Drive) are the actual Phoenix neighborhoods that made the cut.
Lantana Ranch is a subdivision built by Fulton Homes in the southern half of Chandler.
According to Redfin, the most expensive of the five aforementioned neighborhoods is McDowell Mountain Ranch, with a median sale price of $510,000. North Encanto's the least-expensive, around $165,000.
None of the Phoenix-area neighborhoods made Redfin's list of hottest neighborhoods in the nation.
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