Based upon the number of listing views and the speed of sale, realtor.com found that the hottest markets in August 2019 were “smaller and more affordable.”
According to Javier Vivas, realtor.com’s director of economic research, “Smaller markets with smaller price tags continue to heat up feverishly. Buyers have more success in markets that have plentiful supplies of homes below $200,000 in the Northeast and Midwest. In the West and Southwest, we’re seeing alternatives to the pricey, larger cities…”
Here is realtor.com’s 20 Hottest Markets for August 2019:
Metro 8/2019 Ranking 8/2018 Ranking
Fort Wayne IN 1 13
Pueblo CO 2 2
Midland TX 3 1
Rochester NY 4 5
Columbus OH 5 9
Buffalo NY 6 48***
Lafayette IN 7 23
Kennewick WI 8 75***
Spokane WA 9 21
Manchester NH 10 29
Jonesville-Beloit WI 11 2***
Vallejo-Fairfield CA 12 10
Akron OH 13 35
Dayton OH 14 16
Stockton-Lodi CA 15 15
Burlington NC 16 53***
Canton-Massillon OH 17 38
Bakersville CA 18 54***
Yuba City CA 19 21
Monroe WI 20 20
Notice that Jonesville-Beloit is the only area that dropped nine positions from 2 to 11th from 2018 to 2019 in these rankings. And notice too that Buffalo NY, Kennewick WI, Burlington NC and Bakersville CA all jumped up substantially in these rankings from 2018 to 2019.
In terms of Fort Wayne jumping up from #13 to the #1 ranking on this list, this small industrial city approximately two hours from Indianapolis had a median single-family home price of $162,000, according to the local RE/MAX Results brokerage. Tug Pierson with RE/MAZ Results said, “We’ve been one of the most affordable places in the US for decades. Because of local economic growth, we’re attracting startups and new employers…so our job market is expanding.
The “sweet spot” price range for new 1,400 – 2,00-2,600 square feet homes in Fort Wayne is $150,000 to $300,000. Competition for these homes is fierce, according to Pierson. “If something comes ont0 the market at 2AM, I’m getting texts from buyers at 6-7AM.”
Pierson is also being contacted by more out-of-state buyers, particularly from Oregon, Washington State and Illinois, as well as seeing more multiple bids and offers over listing prices.
