Tag: sales

If your late-night Zillow scrolling has gotten more desperate lately, you’re not alone. Home prices are going bonkers. In the past decade, home values shot up 47.1%, beating out the 2010s and 1990s. U.S. home prices are expected to rise another 1.6% over the next year alone. And I found a few markets that are growing nearly five times faster than that.

Red-hot real estate markets

💰 Where home prices are increasing by 3.7%:

• 22. Clarksville, Tenn.: $268,967
• 21. Greenville, N.C.: $215,500
• 20. Durham-Chapel Hill, N.C.: $371,083
• 19. Wilmington, N.C.: $411,583
• 18. Albuquerque, N.M.: $322,333
• 17. Boise, Idaho: $448,317

💰💰 Markets where home prices are rising between 3.8% to 4.5%:

• 16. Yuma, Ariz.: $283,300
• 15. McAllen-Edinburg-Mission, Texas: $192,867
• 14. Fayetteville, N.C.: $218,500
• 13. Muncie, Ind.: $137,377
• 12. Santa Maria-Santa Barbara, Calif.: $852,250
• 11. Charlotte-Concord-Gastonia, N.C.: $348,667
• 10. New Haven-Milford, Conn.: $307,817
• 9. Johnson City, Tenn.: $226,160
• 8. Manchester-Nashua, N.H.: $434,489
• 7. Portland-South Portland, Maine: $475,000
• 6. Jackson, Tenn.: $183,167
• 5. Athens-Clarke County, Ga.: $323,333
• 4. Syracuse, N.Y.: $193,667

💰💰💰 And the top three fastest-growing markets are:

• 3. Rochester, New York: Homes here don’t just sell quickly (think eight-days-on-the-market quickly), but average home prices are expected to increase by 5% this year. It’ll still cost less to live in Rochester than other locations on this list; the median home price here is $199,975.
• 2. Flagstaff, Arizona: Mountains, desert and an expected 5.3% price hike in the next 12 months. The median home value here is $593,833, but it’s a less competitive market; it typically takes around 27 days for a listing to become a pending sale.
• 1. Knoxville, Tennessee: This riverside town is expected to see the highest home price increase by far, at 6.1%. The median home sales price is $321,000, and the average listing sits on the market for two weeks.

Looking to buy?

If you’re in the market, tech tools are your friend.

• Set up alerts on sites like Zillow for homes that match your buying criteria so you never miss a listing. I’ve got a how-to on my site!
• Use MortgageCalculator.org to see your estimated payments.
• Check your credit for free at AnnualCreditReport.com. Click that link or type the address directly into your browser’s address bar. Scammers love to lure you in with “free” reports on fake sites that trap you with monthly fees.

🏠 Pro tip: Winter’s the cheapest time of year to buy. There might be less inventory, but sellers who do list at that time usually want to sell ASAP. Real estate agents are also more open to negotiating closing costs and commissions!

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