Homebuyer Hotspots: Cities with the Hottest Real Estate Markets in 2021

Home for sale sign in front yard

The demand for homes has increased considerably by 2020 and there is no sign of a halt in 2021. In particular, some cities are seeing an unprecedented level of interest in real estate.

Despite some fluctuations, the housing market remains resilient throughout the epidemic. In fact, homes across the country have sold at healthy rates in the past year and 2021. For this year, experts predict that the housing market will maintain a steady growth rate, with housing shortages also resolving themselves in some areas.

Although certainly not steady growth across the board. Some cities have recently gained significant interest from homebuyers in the Midwestern and Western regions of the United States. As a result, homes are practically flying off the market in these areas. There is no harm in saying that real estate is a hot commodity in these cities, whose average home is less than two months before it is sold on the market.

To understand which cities are most popular among homebuyers this year, the data science team at Insurys cited national real estate data and identified the cities with the hottest home markets in 2021.

Heat map of cities with the hottest real estate markets.  The top 20 cities with the highest demand relative to supply were selected.

Insights

  • National average. As of January 2021, the average price list for a house in the United States was $ 346,162. This is 15.37 Percent higher than in January 2020, when the average listing price of a house was only $ 300,045. The average household in the United States lives for more than two months, 76 The day, before being sold in the market. It represents a 11.11 The percentage has decreased since January 2020, when the average household spent .5 Days on the market.
  • Homes in these demanding cities are practically flying off the market. in comparison with 76 The average American home stays on the market for a few days before it is sold, homes in the top twenty cities remain on the market for only a short period of time. 43 Days, on average. It’s a halt 4 Percent less than the national average.
  • The hottest housing markets are not the cheapest, but they are also not the most expensive. Despite the fact that millions of Americans have struggled financially in previous years, affordability for homebuyers in the top twenty cities with the most domestic markets does not seem to be a huge priority, with the average price list actually 2.13 Percent above the national average.

Mechanism

For data scientists, a site in Insurify Compare homeowners insurance Quotes referencing housing market data from Realtor.com to determine cities with Hotstar markets. Specifically, they evaluated cities based on Realtor.com’s Market Hotness Index, which scores each city on a market basis and considers Realtor.com per property. The cities received a market hotness score from 1 to 100. Cities that had fewer days in the market and had higher views towards property, indicating higher demand, achieved higher market hotness scores. On the other hand, cities that had more days in the market and had fewer views per property received a lower market price score, indicating lower demand.

Realtor.com compiles monthly data on these measures. To keep track of the month-to-month fluctuations, Insurify’s data scientists took average market hotness scores for each city over the last three months, then used them to identify the top 20 cities with the hottest domestic markets did.

Median home price data, average day on market and year to year variations for both were gathered from Realtor.com.

20 cities with the hottest home markets in 2021

20. Visalia-Porterville, California

  • Home Market Hotness Score: 84.8
  • Median Home Listing Price: $ 332,525 (2.2% below national average)
  • Median day on the market: 49 (35.5% below national average)

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19. Akron, Ohio

  • Home Market Hotness Score: 85.2
  • Median Home Listing Price: $ 159,750 (53.0% below the national average)
  • Median day on the market: 48 (36.8% below the national average)

18. Spokane, Washington

  • Home Market Hotness Score: 85.8
  • Median Home Listing Price: $ 367,050 (7.9% above the national average)
  • Median day on the market: 46 (39.5% below the national average)

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17. Coeur D’Alene, Idaho

  • Home market hotness score: 86.0
  • Median Home Listing Price: $ 725,050 (113.2% above national average)
  • Median day on the market: 53 (30.3% below the national average)

16. Columbus, Ohio

  • Home Market Hotness Score: 88.4
  • Median Home Listing Price: $ 306,250 (9.9% below the national average)
  • Median day on the market: 47 (38.2% below the national average)

15. Sacramento-Roseville-Arden-Arcade, California

  • Home Market Hotness Score: 89.1
  • Median Home Listing Price: $ 549,050 (61.5% above national average)
  • Median day on the market: 39 (48.7% below the national average)

14. Fresno, California

  • Home Market Hotness Score: 89.8
  • Median Home Listing Price: $ 337,050 (0.9% below national average)
  • Median day on the market: 37 (51.3% lower than the national average)

13. Springfield, Ohio

  • Home Market Hotness Score: Is 89.9
  • Median Home Listing Price: $ 139,950 (58.9% below national average)
  • Median day on the market: 49 (35.5% less than the national average)

12. Janesville-Beloit, Wisconsin

  • Home Market Hotness Score: 90.0
  • Median Home Listing Price: $ 219,500 (35.5% below national average)
  • Median day on the market: 49 (35.5% less than the national average)

11. Manchester-Nashua, New Hampshire

  • Home Market Hotness Score: Is 90.3
  • Median Home Listing Price: $ 397,950 (17.0% above national average)
  • Median day on the market: 49 (35.5% less than the national average)

10. Pueblo, Colorado

  • Home Market Hotness Score: 90.5
  • Median Home Listing Price: $ 299,950 (11.8% below national average)
  • Median day on the market: 40 (47.4% below the national average)

9. Modesto, California

  • Home Market Hotness Score: Is 91.0
  • Median Home Listing Price: $ 439,999.5 (29.4% above the national average)
  • Median day on the market: 40 (47.4% below the national average)

8. Rapid City, South Dakota

  • Home Market Hotness Score: 91.6
  • Median Home Listing Price: $ 314,500 (7.5% below national average)
  • Median day on the market: 37 (51.3% lower than the national average)

7. Lafayette-West Lafayette, Indiana

  • Home Market Hotness Score: Is 91.9
  • Median Home Listing Price: $ 269,050 (20.9% below national average)
  • Median day on the market: 46 (39.5% below the national average)

6. Topeka, Kansas

  • Home Market Hotness Score: 92.6
  • Median Home Listing Price: $ 147,550 (56.6% below national average)
  • Median day on the market: 36 (52.6% below the national average)

5. Stockton-Lodi, California

  • Home Market Hotness Score: 94.0
  • Median Home Listing Price: $ 467,525 (37.5% above national average)
  • Median day on the market: 41 (46.1% below the national average)

4. Colorado Springs, Colorado

  • Home Market Hotness Score: 95.1
  • Median Home Listing Price: $ 470,322 (38.3% above the national average)
  • Median day on the market: 39 (48.7% below the national average)

3. Fort Wayne, Indiana

  • Home Market Hotness Score: 95.3
  • Median Home Listing Price: $ 219,420 (35.5% below national average)
  • Median day on the market: 39 (48.7% below the national average)

2. Burlington, North Carolina

  • Home Market Hotness Score: 96.3
  • Median Home Listing Price: $ 286,800 (15.7% below national average)
  • Median day on the market: 40 (47.4% below the national average)

1. Vallejo-Fairfield, California

  • Home Market Hotness Score: Is 96.9
  • Median Home Listing Price: $ 496,750 (46.1% above national average)
  • Median day on the market: 32 (57.9% below national average)

If you have any questions or comments about this article or would like to request data, please contact insights@insurify.com.

Updated February 11, 2021




Insight Insights

Insurys’ team of data scientists and materials experts presents Insurite Insights, a series of automotive, home, and health studies focusing on topics affecting all of us. Through expert analysis of over 2.5 million car insurance applications and an array of top data sources, the Insurify Insights team produces new data-driven articles, trend analysis, regional exaggeration and national rankings every week. Check out Insight as shown in Forbes, Fox News, USA Today, NPR and more.

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