Top Real Estate Markets Last Month

February last month’s data shows that the dominant theme in the real estate market so far this year is affordability.

Realtor.com began tracking real estate in metropolitan cities in 2013. (Metro areas include nearby suburbs or satellite cities). In January, the top places that improved the most in the ranking were smaller cities with lower prices, specifically:

  • Santa Cruz, CA
  • Pueblo, CO
  • Canton, OH
  • and Boise City, ID

Image result for santa cruz houses

Santa Cruz houses courtesy of Realtor.com

Image result for pueblo, colorado houses and mountain

Pueblo, CO houses courtesy of Livability

 

Related image

Photo of a house in Canton, OH courtesy of ryanhomes.com

Image result for boise idaho houses for sale

Boise, ID house courtesy of West Real Estate Group

On February (last month), the markets to watch are:

  • Cleveland
  • Philadelphia
  • Cincinnati
  • Charlotte, NC
  • and Virginia Beach, VA

 

“We’re seeing more interest in secondary markets,” confirms¬†Danielle Hale, chief economist of Realtor.com.

“Homes are a little bit more affordable, and buyers are looking for that affordability. For example, Spokane, WA, is a more affordable alternative to Seattle, while Colorado Springs and Pueblo, CO, are good alternatives to Denver. And in California, priced-out residents of San Francisco might want to look to Santa Cruz. Affordable markets will continue to improve in the months ahead, so that’s likely to favor markets in the South and Midwest,” Hale said.

Related image

Photo of Spokane, WA courtesy of Livability.com

 

And yet, California markets are still dominant, even as they are the ones most affected by the slowdown in price growth and market activity. Santa Cruz homes spent 25 more days on market last month compared with February of last year, while Sacramento homes took an additional 13 days to move. Modesto homes sat for 11 more days, Stockton homes for nine. And in once-mighty San Francisco, homes were taking eight more days to sell.

How about San Francisco?

San Francisco is still No. 5.

Image result for san francisco, ca

San Francisco courtesy of Reserve Direct

Here’s the real estate hot list (based on last months data):

Rank 20 Hottest Markets Rank YY Median Days on Market
1 Midland, TX 2 41
2 Chico, CA 11 34
3 Colorado Springs, CO 6 46
4 Spokane, WA 14 49
5 San Francisco, CA -4 29
6 Sacramento, CA -1 50
7 Yuba City, CA 23 59
8 Rochester, NY 17 58
9 Columbus, OH 7 59
10 Stockton, CA -2 47
11 Fort Wayne, IN 9 63
12 Modesto, CA 0 48
13 Boston, MA 6 63
14 Pueblo, CO 8 53
15 Odessa, TX 13 57
16 Dallas, TX -2 54
17 Fresno, CA 0 50
18 Canton, OH 53 51
19 Santa Cruz, CA -13 62
20 Boise City, ID 1 48
Sources: Realtor.com, Curbed SF, CNBC

Leave a Reply

Your email address will not be published. Required fields are marked *