The real estate market outlook continues to be favorable for home sellers, with prices steadily rising since 2020. In fact, prices rose by 22.2 percent compared to 2019. And, with low interest rates and low inventory, bidding wars are pushing prices even higher. So, if you are a homeowner looking to sell, this is the time – especially if you live in one of the top 10 hottest U.S. housing markets, according to Work and Money.
#1 Austin, Texas
The Texas real estate boom shows no signs of slowing down, putting Austin as the head of the class for the hottest market in the country this year. The typical home value is at $454,896.
#2 Phoenix, Arizona
With more than 80,000 people that moved into Phoenix this past year, it is number two on the list as hottest markets in the U.S. The typical home value is $310,514.
#3 Nashville, Tennessee
Coming in at number three is Nashville, spurred in part by millennials making the move to the Music City. The typical home value is $316,078.
#4 Tampa, Florida
The average days on the market for a home in Tampa is 10, and home prices are expected to increase by 7.5 percent. The typical home value is $281,097.
#5 Denver, Colorado
It’s natural that Denver shows up on the list since its housing market has been going strong for more than a decade. In particular, luxury homes that are more than a million dollars sold than the previous year. The typical home value is $498,911.
#6 Dallas-Fort Worth, Texas
The second Texas market on the list, at number six, the DFW is the most valuable market in Texas. With many people relocating from California to the area, pushing up sales prices, the market is estimated at $625 billion. The typical home value is $273,348.
#7 Atlanta, Georgia
Sales prices increased nearly 17 percent over the year before, putting Atlanta at number seven on this list. The typical home value is $311,092.
#8 Washington, DC
From last year, sales activity increased by 25 percent in Washington, DC, particularly luxury homes. The typical home value is $672,601.
#9 Riverside County, California
As more people leave Las Angeles in search of a less expensive housing market, Riverside’s home prices are increasing—estimated to be nearly 11% this year. The typical home value is $474,150.
#10 Miami, Florida
Another Florida hot market, Miami comes in at 10. Home sales are expected to continue to rise, in both the single-family and luxury markets. The typical home value in Miami is $389,138.
If you’re considering purchasing in one of these top 10 cities, Luxury Mortgage can help! Whether you’re looking for a primary home, investment property, or a vacation spot, our licensed mortgage originators can help identify your best options. With our innovative mortgage programs, we focus on helping you find the right solution for your needs. Simply call or click below!
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