Citing increasing home prices, fast home sales, and tough competition among buyers, the real estate site Realtor.com included Miami suburb Cutler Bay on its America's 10 Hottest Suburbs list this week.

The site compiled the list by culling suburban areas from the country's 50 largest metropolitan areas and then ranking them based on a combined score of household growth, listing price growth, and housing supply and demand.

Cutler Bay, which came in at No. 7 on the list, is popular because of its location just south of Miami. First-time homebuyers, young families, and "snow birds" flock to the area, which mainly has houses in gated communities or ones that sit on lakes, and boast close proximity to beaches. According to Realtor, a typical property here spent 50 days on the market in 2016, nine days less than the typical property in the study, and the listing price of properties here grew 16.3 percent annually over the last three years.

Elsewhere in Florida, Vista East outside of Orlando made the No. 6 spot, and Palm River-Clair Mel in Tampa came in at No. 5.

Source:

The 10 U.S. Cities With the Fastest-Growing Suburbs [Realtor.com]