The real estate market is ever fluctuating, and as a professional within the industry it’s important to keep up with current housing market trends. According to Realtor.com, here are 2018’s current hottest housing markets.
Likely in correlation to the recent oil boom, Midland surprises us all with landing in the top spot. The current average lifespan for listings on the market is 29 days! Also in its corner is its relatively low costs for big spaces, with a median listing price of $350,000, which will score you a four bedroom, three bathroom home.
Currently in the second spot, homes in Columbus spent an average of 32 days listed on the market. With an average median home price of $250,000, it’s also a hugely affordable option for families on the move. It is also where Ohio State University resides, which is another contributing factor to the cities real estate boom.
Landing in the third spot on the list of hottest housing markets is Boston! Because Boston is such a thriving, diverse city this really comes as no surprise, as we have seen this city on the list plenty of times before. Home to Harvard University, the average time spent on the market per home is only 32 days, but does come with a costly average price of $580,000 per home.
Fort Wayne, Indiana
Surprisingly, Fort Wayne has climbed its way to the fourth spot on the list, a vast difference to its 10th place ranking for May 2018. Home spent an average of 34 days on the market, with an average listing price of $197,000. It is also the most affordable option on the list, surely attracting more families to the area.
A huge factor for last month’s housing trends that I didn’t see coming was the impact Amazon would have on the list. Its potential headquarter cities of Boston, Columbus and Dallas all showed up within the top 20 highest booming markets. Another surprising aspect of the list is the lack of Californian cities mentioned. Usually falling within the top 5 spots, California was not represented until spot 7 which is likely due to the high housing costs that seem to be rising, at a time when people are looking for more affordable options for their family.