Franklin ranks among top 10 'hottest neighborhoods' in the country, Redfin finds
The hottest neighborhoods in the country this year include Russian Hill along the San Francisco Bay, Prospect Heights across from Brooklyn's iconic urban park and... Franklin, Wisconsin?
Milwaukee County's southwest suburb has been dubbed the seventh hottest neighborhood in America this year, according to a new analysis by real estate brokerage Redfin.
Redfin's analysis looked at zip codes in the 150 biggest American metro areas, identifying the neighborhoods where competition for homes is heating up the fastest. Signs of a hot market included: an uptick in views per listing, a drop-off in days on the market, and homes selling above asking price.
Here's a snapshot of Franklin's market in the first two months of 2025:
Median sale price: $392,500 — up 10.5% year over year.
Median days on market: 49 — down 17 year over year.
Change in home sales: Up 25% year over year.
Change in median views per listing: Up 129% year over year.
Share of homes that sold above list price: 40%.
Across the Milwaukee metro, homebuyers are still facing stiff competition. Median home prices in the Milwaukee metro rose 20% year over year in February — the biggest year-over-year price jump of the nation's 50 largest cities.
New construction in Franklin — especially on spacious lots — is drawing in buyers, said local Redfin Premier agent Ben Ambroch.
Although the Midwest hasn't attracted as many newcomers and real estate investors as the Sunbelt, its residents are eager to lay down roots, Redfin's chief economist Daryl Fairweather told the Journal Sentinel.
"It's not so much that people are moving into the Midwest from other regions, but within the Midwest, people who are choosing to stay are buying homes," Fairweather said.
This article originally appeared on Milwaukee Journal Sentinel: Franklin ranks among top 10 'hottest neighborhoods' in the country
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Axios
17 minutes ago
- Axios
Indianapolis homebuyers gain the upper hand
Homebuyers hold an edge in Indianapolis and across the nation — so long as you can cover the bigger tab. The big picture: There are nearly 500,000 more sellers than buyers in the U.S. housing market, Redfin estimates based on April figures. Why it matters: That's the widest gap on record — and a big reversal from just a few years ago, when buyers were desperate to find a place to live, sending prices into the stratosphere, Axios' Emily Peck and Sami Sparber report. By the numbers: There are 33.7% more sellers than buyers nationally. At no other point since Redfin began tracking in 2013 have sellers outnumbered buyers by such a large percentage. A year ago, sellers outnumbered buyers by 6.5%, and two years ago, buyers outnumbered sellers. Zoom in: The Indy metro had nearly 1,500 more sellers than buyers, a 21% difference, signaling a home buyer's market. Indianapolis also ranks fifth overall when tracking metros with the biggest year-over-year increases in pending home sales. Context: Redfin counted sellers as the number of active listings in a given area and created a model to estimate the total buyers. Where it stands: The one-two punch of still-soaring home prices and mortgage rates is making it hard for buyers, especially first-timers, to find a place they can afford despite the shift. Add to that the extreme economic uncertainty of 2025. Tariff news, layoff fears and, for many federal workers, layoff realities, are tamping down buyer demand. Yes, but: For home sellers "the mortgage rate lock-in effect is easing," per Redfin. "For most people, it's not realistic to stay put forever; job changes, return-to-office mandates and divorce force people to move." Elevated mortgage rates are becoming the norm. "The idea of taking on a higher mortgage rate also isn't as shocking as it was when rates first skyrocketed in 2022." Between the lines: Buying a home remains out of reach for most Americans, as the National Association of Realtors pointed out in a recent report. The median home price sold in the U.S. in the first three months of this year was $417,000, per federal data — 33% more than during the same period in 2019, before the housing market went haywire, outpacing inflation and incomes. Indy's median home sale price was $255,000 as of April per Redfin, a 4.9% increase when compared to the previous year. The household income required to afford a median home in the Indianapolis-Carmel-Anderson metro has also increased nearly 4% since last year. What to watch: Historically, when sellers outnumber buyers, prices drop. And in some markets, listings have already started falling. Redfin believes prices will dip 1% by the end of the year (not exactly a huge discount, to be sure). The bottom line: "The balance of power in the U.S. housing market has shifted toward buyers, but a lot of sellers have yet to see or accept the writing on the wall," said Redfin senior economist Asad Khan in the report.
Axios
17 minutes ago
- Axios
Popular Stephen Starr restaurants boycotted by Democrats
Top Democrats in the House and Senate are boycotting hot Washington, D.C. restaurants that include those owned by famed Philadelphia restaurateur Stephen Starr over labor disputes. Why it matters: The targeted restaurants in Starr's empire include some of the buzziest spots for Democratic fundraisers. Driving the news: More than 50 House and Senate Democrats have signed onto Unite Here Local 25's pledge to avoid six D.C. venues. Zoom in: Starr, who is a Democratic donor, is facing boycotts of his Le Diplomate, Osteria Mozza and The Occidental. The other three boycotted restaurants are founded by chef Ashok Bajaj of Knightsbridge Restaurant Group. The list: Among the signers are some of Democrats' top fundraisers and biggest names, including Rep. Alexandria Ocasio-Cortez (D-N.Y.) and former House Speaker Nancy Pelosi (D-Calif.). Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) are also on the list. Meanwhile, Philly Reps. Brendan Boyle, Dwight Evans and Mary Gay Scanlon signed the boycott list, per Unite Here's website. U.S. Sen. John Fetterman and Philly-regional Rep. Madeleine Dean were not on the pledge list as of Friday. Between the lines: Political groups and candidates have spent thousands of dollars at those spots over the past year, federal campaign records show. Former President Obama and Amazon founder Jeff Bezos made headlines when they dined at Osteria Mozza in January. Then-President Biden was a repeat customer at Le Diplomate during his presidency. What they're saying: Rep. Greg Casar (D-Texas), the chair of the Congressional Progressive Caucus, told Axios: "We can have big policy debates, but we also have to show the American people some concrete examples." He added: "This is our opportunity when we're here in Washington, D.C. to not just go vote in the Capitol but actually go out in the community and make a difference." "We can say that all members on the list are personally boycotting," Benjy Cannon, a spokesperson for the union, told Axios in a message. "Many of them have been meeting personally with STARR and Knightsbridge workers all year." The other side:"Local 25's call for a boycott is baseless," Starr restaurants said in a statement. "A boycott of any kind can result in lost hours, wages, and tips that hardworking employees rely upon." "It is unfortunate that an organization that claims to want to represent employees would call for an action that would harm them." "We respect our employees' wishes," Bajaj said. "How many of these congress members even know themselves that they're signing?" Zoom out: Starr's restaurant group has accused Unite Here Local 25 of overly aggressive tactics. That includes union reps showing up with petitions outside employees' homes, leading one bartender to sign it even though she planned to vote against a union, as Eater reported in February. Francisco López, a Le Diplomate server of five years, told Axios some employees are holding counter protests to the union.
25 minutes ago
NATO chief Rutte calls for 400% increase in the alliance's air and missile defense
LONDON -- LONDON (AP) — NATO members need to increase their air and missile defenses by 400% to counter the threat from Russia, the head of the military alliance plans to say on Monday. Secretary-General Mark Rutte will say during a visit to London that NATO must take a 'quantum leap in our collective defense' to face growing instability and threats, according to extracts released by NATO before Rutte's speech. Rutte is due to meet U.K. Prime Minister Keir Starmer at 10 Downing St. ahead of a NATO summit in the Netherlands where the 32-nation alliance is likely to commit to a big hike in military spending. Like other NATO members, the U.K. has been reassessing its defense spending since Russia's full-scale invasion of Ukraine in February 2022. Starmer has pledged to increase British defense spending to 2.5% of gross domestic product by 2027 and to 3% by 2034. Rutte has proposed a target of 3.5% of economic output on military spending and another 1.5% on 'defense-related expenditure' such as roads, bridges, airfields and sea ports. He said last week he is confident the alliance will agree to the target at its summit in The Hague on June 24-25. At the moment, 22 of the 32 member countries meet or exceed NATO's current 2% target. The new target would meet a demand by President Donald Trump that member states spend 5% of gross domestic product on defense. Trump has long questioned the value of NATO and complained that the U.S. provides security to European countries that don't contribute enough. Rutte plans to say in a speech at the Chatham House think tank in London that NATO needs thousands more armored vehicles and millions more artillery shells, as well as a 400% increase in air and missile defense. 'We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies,' he plans to say. 'Wishful thinking will not keep us safe. We cannot dream away the danger. Hope is not a strategy. So NATO has to become a stronger, fairer and more lethal alliance.' European NATO members, led by the U.K. and France, have scrambled to coordinate their defense posture as Trump transforms American foreign policy, seemingly sidelining Europe as he looks to end the war in Ukraine. Last week the U.K. government said it would build new nuclear-powered attack submarines, prepare its army to fight a war in Europe and become 'a battle-ready, armor-clad nation.' The plans represent the most sweeping changes to British defenses since the collapse of the Soviet Union more than three decades ago.
