20 Markets Hitting the Affordability ‘Sweet Spot’
Home buyers are placing their attention on small and mid-sized cities in search of cheaper homes. Realtor.com® recently released its list of the hottest housing markets in May, which have seen the quickest sales and fetched the most views on online listings. The median list price among the top 20 hottest markets is $311,000, which is about 18% below the national median of $380,000, according to realtor.com®.
The markets garnering the most buyer interest are in the affordability “sweet spot,” says George Ratiu, realtor.com®’s senior economist. “They’re mid-sized cities that are more affordable yet still close to bigger urban areas with lots of jobs. These markets offer a lot more space, with larger homes on bigger lots, which are much better suited to today’s buyers.”
Here are the top 20 cities that topped realtor.com®’s list for May:
Manchester, N.H.: $415,000 (median list price) Concord, N.H.: $379,000 Burlington, N.C.: $275,000 Portland, Maine: $458,000 Johnson City, Tenn.: $300,000 Rochester, N.Y.: $245,000 Topeka, Kan.: $160,000 Fort Wayne, Ind.: $250,000 Columbus, Ohio: $309,000 Jefferson City, Mo.: $185,000 Lafayette, Ind.: $270,000 Elkhart, Ind.: $180,000 Eureka, Calif.: $430,000 Saginaw, Mich.: $155,000 Worcester, Mass.: $390,000 Vallejo, Calif.: $550,000 Raleigh, N.C.: $410,000 Racine, Wis.: $250,000 Pottsville, Pa.: $135,000 Colorado Springs, Colo.: $481,000