Report: What's the hottest housing market in the country? Tacoma

As many have noted in the past few months, Seattle's housing market has come down from its feverish high and is no longer considered the "hottest" housing market in the country.

But the title didn't go too far.

According to a new report from Redfin, Tacoma is now the nation's hottest housing market for the spring. The web-based real estate company found that 50.2% of recently sold homes went under contract in just two weeks, with the typical buyer finding a home in just eight days — the shortest median time on market nationwide.

Between April 21 and May 19, 49.7% of the homes sold above asking price, more than any metro except San Francisco, Oakland, and San Jose (also known as the three most expensive metros in the country).

Of course, Tacoma is not unfamiliar with proximity to expensive metros — that is, likely, part of how they ended up with such a hot market.

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"Ordinary homebuyers have gotten fed up with home prices in Seattle, largely because most people aren't able to compete with highly paid tech workers and executives at companies like Amazon," said Ellen Campion, a Redfin agent in Tacoma.

"A lot of buyers are turning to Tacoma. I'm seeing an increase in bidding wars compared to the end of last year and a rise in homes selling for above the asking price, particularly for homes that are ready to move into right away."

As of the first week of May, Tacoma was left with just 1.3 months of supply (also less than any other metro in the U.S.), well below what analysts consider a balanced market of four-to-six months.

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And many people looking in Tacoma believe that they can live there without giving up the cultural amenities they enjoy in Seattle, according to Redfin's report.

"In addition to offering more affordable housing options, Tacoma is becoming a vital city in its own right. Some of the neighborhoods, like Old Town, Proctor District and the West End are becoming revitalized, and they're great for families looking for walkability," Ashley Sprecher, another Redfin agent in the area, said to Redfin.

Especially since King County's median price are almost twice as much compared to that of Pierce County's where Tacoma is.

Click through the slideshow above to see some of the houses listed in Tacoma recently. The listings start at $375,000.