The country’s hottest housing markets have this in common, October 2021

In today’s fast-paced housing market, it’s hard to find a place where real estate is not hot.

However, there are some popular real estate markets with buyers across the country where homes are selling for just one little a little bit faster. And they all have one big thing in common: they are the most affordable.

For the second month in a row, the Manchester, NH metropolitan area topped Realtor.com®’s list of the country’s hottest markets in October. It was the 11th time the small town, about an hour northwest of Boston, has ranked No.1 since the pandemic began in March of last year.

Homes in the Manchester area sold in less than 24 days in October, about 21 days faster than the typical market. These properties also received about 2.8 times more eyeballs than the norm in other parts of the country.

Realtor.com’s economics team has compiled its monthly ranking of the hottest US real estate markets by tracking the metropolitan areas where homes sell fastest and where most potential buyers click on real estate listings.

“Affordability and strong local economies remain a priority for buyers today,” says George ratiu, head of economic research at Realtor.com. “With home prices hitting record highs this year, many buyers still find themselves left out of expensive cities.

“A lot of the markets on our list are small to medium sized within a reasonable distance of a large employment center, but with much more affordable house prices,” he says.

The average median list price in the 20 hottest markets was about 15.8% lower than the nationwide median price. Homes on the list represented a median of $ 320,000, compared to $ 380,000.

Prices were highest in the Manchester metropolitan area, at a median of $ 419,900. But they were significantly lower than those in Boston, where buying a median-priced home cost $ 689,000 in October. (Subways include the main town and surrounding towns, suburbs, and small towns.)

Manchester, along with many other places on the hottest market list, sees many buyers coming from out of state. More than half of local real estate brokers Marc GuardianCustomers are from New York, Connecticut and Massachusetts, as well as some from the West Coast. This trend has accelerated as more and more people who can work remotely move away.

“They are fed up with high taxes and warrants,” says Warden of Porcupine Real Estate. He notes that there is no state revenue or general sales tax in New Hampshire. There is also plenty to do in the city and plenty of outdoor activities nearby.

“Most of them are working families or first-time buyers,” he adds. “They are looking for a modest three bedroom house. In Manchester, people can still get it for under $ 300,000. “

Cheap homes are harder and harder to find, but they’re still there, he says. However, the suburbs are a bit more expensive.

“In this era of pandemic, where millennials with young families are looking for a quality of life, Manchester is offering this in spades,” says Ratiu.

The hot list

Metro Rank Annual classification change Median registration price
Manchester, New Hampshire 1 0 $ 419,900
Burlington, North Carolina 2 0 $ 295,000
Eureka, California 3 +53 $ 489,000
Rochester, New York 4 +2 $ 211,000
Elkhart, IN 5 +31 $ 219,900
Lafayette, IN 6 +8 $ 227,500
Fort Wayne, IN 7 +2 $ 224,900
Johnson City, Tennessee 8 +23 $ 300,000
Jefferson City, Missouri 9 +19 $ 179,900
Fast city, SD ten +35 $ 386,000
Raleigh, North Carolina 11 +138 $ 425,000
Topeka, KS 12 -1 $ 175,000
Concord, New Hampshire 13 +8 $ 389,900
Springfield, MA 14 +15 $ 310,000
Worcester, MA 15 -ten $ 399,000
Portland, ME 16 +2 $ 469,900
Columbus, Ohio 17 -9 $ 289,900
Janesville, WI 18 -1 $ 249,900
Durham, North Carolina 19 +135 $ 471,000
Memphis, TN 20 +41 $ 275,000

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