Where to Find the Most Competitive Real Estate Markets in the US
Real estate has been the talk of the country since the game changed during the pandemic. Sellers found themselves asking “What is my home worth?” as they prepared to enter a listing into a market of bidding wars.
Buyers were ready to answer the question, “Just how much can I really afford?” as they strived to put their best foot forward and snag the home of their dreams.
Finding the ideal real estate market is the culmination of may factors, one of which is location.
These are some of the most competitive real estate markets in the country currently.
Raleigh, North Carolina
High on the list is Raleigh, where the median selling price is $371,682 and the median price list increase year-over-year is 25 percent.
Raleigh has an unemployment rate lower than the national average at 2.9 percent and is an attractive hub of growth for young professionals.
The median home price here has increased by over $74,000 from April 2021 to April 20222.
Austin has steadily been on the rise in terms of opportunity and culture, and now the housing market is following suit.
The median home value here is $571,481. The city has a tech hub that grows every year, thanks in part to the coming of Tesla and Google as employers.
The number of homes sold in the city decreased from April 2021 to April 2022, but the median selling price increased by 24 percent.
Las Vegas, Nevada
Vegas is so much more than a tourist attraction and city of lights. Residents enjoy the outdoors and find much to do outside the well-known strip.
The median home price is $384,748. In the past year, 60 percent of homes sold have done so above the asking price.
Thanks to its appeal to outdoorsy types and booming population growth, Mesa has become a hot spot for folks looking to move somewhere new.
From April 2021 to April 2022 the median home price in the area increased by over $88,000. The current median home price is $424,977.
Situated just outside Los Angeles, this California city is a great spot for folks who don’t want to live amid the big city life but prefer to have it close by.
There is an abundance of job opportunities here and the cost of housing is much lower than comparable cities in the state.
The median home price sits at $365,000, and over the past year that price had increased by over $66,000.
The number of homes available for sale has decreased since the spring, so buyers should be ready to pounce when the right home comes up.
Florida is a desired place to live by many thanks to its plethora of beaches, thriving cultural and nightlife scenes, and year-round pleasant weather.
Jacksonville has all this, plus an affordable cost of living that makes it an ideal place to settle down.
The median home price is $270,023, one of the most affordable markets out there.