America’s Hottest Real Estate Market

By Douglas A. McIntyre Published Apr 14, 9:10AM EDT

24/7 Wall St. Key Points

America’s real estate market has been “cool” over the past year and a half.
There are a few neighborhoods that are exceptions.

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America’s Hottest Real Estate Market — © Auseklis / iStock via Getty Images

America’s real estate market has been “cool” over the past year and a half. With mortgage rates above 6.5% for a 30-year home loan, monthly payments on mid-priced properties nationwide can be more than $1,000 higher than when mortgages were at 3% two years ago. People with those 3% mortgages do not want to sell unless they can do so at a large premium over pre-pandemic prices. There are a few neighborhoods that are exceptions.

Several of those markets on a Redfin list are in and around New York City. That is unexpected because the country’s largest city usually has home prices higher than national figures. The hottest neighborhood is Brooklyn’s Prospect Park/Clinton Hill, near the Brooklyn Bridge.

Realtor.com identified the hottest markets by looking at Zip codes in America’s 150 largest metros. It then used “a measure of how difficult it is to win a home in a particular area based on factors including days on the market, the share of homes that sold above their listing prices and sale-to-list price ratio.” Prospect Park/Clinton Hill ranked first based on this methodology in “Redfin’s Hottest Neighborhoods 2025.”

Another notable statistic about Prospect Park/Clinton Hill is that homes are extremely expensive. The median sales price of a home is $1,397,000.

The second neighborhood on the list has inexpensive homes. Jenison, Michigan, is outside Grand Rapids in the northern part of the state’s lower peninsula. The median sales price for a home is $356,500.

The top 10 hottest markets have a mix of inexpensive and very expensive homes.

The Hottest Markets

The hottest housing markets in the United States.

These are the 10 hottest markets in the United States and their median sale prices:

Prospect Heights and Clinton Hill, N.Y.: $1,397,000 (+3.9% YoY)
Jenison, Mich.: $356,500 (−0.2% YoY)
Campton Hills and St. Charles, Ill.: $615,000 (+2.9% YoY)
Fairport, N.Y.: $350,000 (+9.4% YoY)
Polk Gulch and Russian Hill, Calif.: $1,065,000 (+10% YoY)
Great Kills, N.Y.: $700,000 (+4.3% YoY)
Franklin, Wis.: $392,500 (+10.5% YoY)
Prairie Village and Mission Hills, Kan.: $476,500 (−0.7% YoY)
Lakeville, Minn.: $495,000 (+2% YoY)
Bowie, Md.: $512,288 (+2.7% YoY)

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.