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
Source: “It’s All About Affordability: The Hottest Markets for Real Estate, May 2021,” realtor.com® (June 29, 2021)
