There’s a lot to be learned by looking beyond viewer’s initial searches. You’ll find under- the-radar secondary markets to mine and market to potential buyers.
Javier Vivas, the director of economic real estate search with realtor.com, explains, “buyers have traditionally sought refuge in suburbs during times of high home prices. But with today’s record highs, even the suburban areas have gotten pricey, which has demand flooding outward as options disappear and prices move further out of reach in top job hubs.”
Suburban markets are usually known for greater affordability as well as greater inventories. The obvious downside is that potential buyers looking to suburbia to call home would have to spend more time commuting to and from their fruitful jobs in less affordable urban centers.
Realtor.com ranked the top 10 suburban markets to watch based upon the ratio of inbound and outbound searches via the main origin of searches. Clearly, you’ll note that some users initiated their searches in Miami, Los Angeles and New York and ended their searches in different markets altogether. Perhaps the end markets were based upon price? You decide.
Origin of Search Markets to Watch
- Seattle – $500,000 1. Spokane – $264,000
- Boston – $493,00 2. Portland, Maine –$3400,000
- Sevierville, TN – $255,000 3. Knoxville – $247,000
- Miami – $388,000 4. Deltona – $270,000
- Los Angeles – $706,000 5. Boise – $299,000
- Miami – $388,000 6. Jacksonville – $307,000
- New York – $474,000 7. Charleston – $364,000
- New York – $474,000 8. North Point, Fla.- $350,000
- Los Angeles – $706,000 9. Bakersfield – $239,000
- Atlanta – $300,000 10. Chattanooga – $230.000
