Which Housing Markets Offer the Most Opportunities for Interested Buyers?
With all of the talk about supply constrained markets and a lack of inventory in the housing market, ZipRealty has created a list of the top 10 markets with the greatest opportunities for interested home buyers, based on MLS data released on July 15.
“The tight supply of for sale housing inventory in 2013 has created bouts of buyer competition that have pushed home prices upward and driven the amount of time that homes are on the market sharply downward,” said Lanny Baker, CEO and President of ZipRealty. “However, an increase in new listings is offering the first signs that tight inventory conditions might finally find some relief.”
“Across the 24 metros analyzed every two weeks in ZipRealty’s Housing Trends Report, new listings that came to market between mid-June and mid-July 2013 were 14% higher than in the same period of 2012, marking the strongest year-over-year growth in new listings in any 30-day period so far this year,” he noted. Seven cities saw 20%-plus leaps in new listings, including Denver (26%), Portland (25%), San Diego (24%), Orange County (24%), Baltimore (24%), and Washington, DC/Northern Virginia (23%).
As of July 15, the housing markets with the most opportunities based on new listings data from ZipRealty include:
Metro Area YOY Increase in Listings Median Sales Price
1) Denver 26% $273,500
2) Portland 25% $269,000
3) San Diego 24% $430,000
4) Baltimore 24% $270,000
5) Seattle 24% $295,000
6) Orange County 24% $540,000
7) DC/Northern VA 23% $395,000
8) Tucson 19% $165,000
9) Orlando 18% $140,132
10) Dallas 18% $192,500