The average median home list price in the 20 hottest markets, spread out across 17 states, was just $299,000 in August, according to Realtor.com, compared with the national median price tag of $380,000.
The common thread in Realtor.com’s list of the hottest real estate markets is these small and mid-sized cities offer larger homes, better quality of life, and access to the outdoors.
The median listing price on this roster of hot markets is as low as $110,000 (Pottsville, Pa.) and as high as $449,000 (Billings, Mont.).
“The most in-demand real estate markets in August highlight the appeal of small and midsized cities across the country, amid continued interest in remote work and rising affordability concerns,” says George Ratiu, manager of economic research at Realtor.com.
The Realtor.com economics team came up with its ranking of the hottest U.S. markets for real estate by tracking the metropolitan areas where homes are selling the quickest and where the most potential buyers are clicking on property listings on Realtor.com. (Metros include the main city and surrounding suburbs, towns, and smaller urban areas.)
With record-high prices that keep rising, affordability is clearly on the mind of buyers. The average median home list price in the 20 hottest markets, spread out across 17 states, was just $299,000 in August, according to Realtor.com data. That was 21.4% lower than the national median price tag of $380,000.
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