Mid-Sized Markets to Watch

Key Highlights

• Zillow analysis showing that mid-sized cities leading as top markets poised for growth
• Mid-sized metros offer more space for less money as well as big-city amenities

Zillow’s latest research indicates that mid-sized city markets are replacing expensive coastal markets as the most in-demand places to live in the now COVID-era normal.

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Analysts with Zillow paid particular attention to home value, forecasted and continuing opportunity for value growth, the number of days on the market, the share of homes that sell above list price and monthly sales counts. Consumers paid particular attention to getting more bang for the buck. To them, more bang was defined as more indoor- and outdoor- space.

Take a look at Zillow’s Top Mid-Sized Cities:

1. Boise ID – typical home price of $334,965
   1. Home values increased +11.8% from last year and expected to grow +5.6% into next year
   2. Typical DOM = 5
   3. Up and comer city for young professionals, families and retirees
2. Huntsville AL – typical home price of $203,242
   1. Home to US Space and Rocket Center
   2. Home values increased +11.5% from last year and forecasted to grow +5% into next year
3. Ogden UT – typical home price of $344,816
   1. 41% of homes sold above list price
   2. Home values expected to increase +4.6% into next year
   3. Offers urban amenities with easy outdoor access
4. Spokane WA – typical home price of $293,655
   1. Home values increased +9.5% from last year
   2. 1% of homes sold above list price
   3. Vibrant downtown, trail system and growing brewery/winery scene
5. York PA – typical home price of $195,837
   1. First US capital dating back to 1777
   2. Home values increased +17.7% from last year
   3. Home sales up +75.7% from previous month!
6. Colorado Springs CO – typical home price of $336,927
   1. Home values +9.5% from last year and forecasted to grow +4.8% into next year
   2. Home sales +17.8% above last year’s levels
7. Lancaster PA – typical home price of $242,009
   1. Home sales +78.6% from last month!
   2. DOM = 7!
   3. 3 hour proximity to Philadelphia, Baltimore, New York and Washington DC
8. Modesto CA – typical home price of $340,762
   1. 1% sell above list price
   2. DOM = 7
   3. Home values forecasted +4% into next year
9. Syracuse NY – typical home price of $$154,596
   1. Home values +6.8% above last year and forecast to increase +4% into next year
   2. Considered “the” market to watch in upstate New York.
10. Visalia CA – typical home price of $232,800
    1. Home values +7.5% since last year and forecasted to rise +4.3% into next year
    2. More than 33$ of homes sell above list price
    3. Small town feel and gateway to outdoors
11. Portland ME – typical home price of $334,650
    1. Home values rose +7.5% over last year and expected to rise +3.9% into next year
    2. Almost 40% of homes sell above list price
12. Lansing MI – typical home price of$170,011
    1. Monthly sales increased +68%
    2. 40% of homes selling above list price

Thanks to Zillow.

Also read: What Happens to Housing Market When Government Stimulus Ends?, Will Fall’s Global Housing Market Prove To Be Resilient?, Home Prices & FICO Scores Continue Rising in Q2