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50 Markets Ranked: Where Does Yours Fall?

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50 Markets Ranked: Where Does Yours Fall?
Article by Daily Real Estate News | October 25, 2016

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Nashville, TN

Who has the hottest single-family housing market this fall? Fort Lauderdale, Fla., according to a new report released by Ten-X, an online real estate marketplace. Ten-X ranked the 50 largest single-family housing markets for fall 2016 based on current and forecasted fundamentals.

Florida markets continue to dominate its list for the second consecutive season.

“Florida’s housing market continues to set the pace for the nation, with five of the top 10 metros on our report,” says Rick Sharga, Ten-X executive vice president. “While all of the top five markets took substantial hits during the housing crash, especially Las Vegas, the continued road to recovery for these destination cities is looking even brighter.”

The five single-family markets topping Ten-X’s list for this fall are: Fort Lauderdale, Fla.; Palm Beach County, Fla.; Tampa, Fla.; Orlando; and Las Vegas.

The rankings factor in pricing, sales, permit activity, and economic growth, population growth.

See how your metro stacked up.

  1. Fort Lauderdale
  2. Palm Beach County
  3. Tampa
  4. Orlando
  5. Las Vegas
  6. Phoenix
  7. Seattle
  8. Nashville
  9. Dallas
  10. Jacksonville
  11. Denver
  12. Portland
  13. Oakland
  14. Atlanta
  15. Columbus
  16. Raleigh
  17. San Francisco
  18. San Jose
  19. Miami
  20. Boston
  21. Austin
  22. San Diego
  23. Charlotte
  24. Salt Lake City
  25. DC
  26. Riverside
  27. Los Angeles
  28. Indianapolis
  29. Sacramento
  30. Minneapolis
  31. Fort Worth
  32. Orange County
  33. San Antonio
  34. Kansas City
  35. Detroit
  36. Pittsburgh
  37. Cincinnati
  38. Milwaukee
  39. Northern Virginia
  40. St. Louis
  41. Suburban Maryland
  42. Houston
  43. Memphis
  44. Philadelphia
  45. Long Island
  46. Northern New Jersey
  47. Chicago
  48. Cleveland
  49. Central New Jersey
  50. Baltimore

Source: Ten-X   Article distribution: REALTOR® Magazine Online, Daily Real Estate News 102516

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5 Markets with the Largest Price Drops

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The number of homes where sellers have cut their asking price is up 17.6 percent, according to a ZipRealty survey that analyzed MLS-listed properties in 26 markets. 

“In more than half of the surveyed markets, sellers are averaging at least two reductions in price,” says John Oldham, director of marketing for ZipRealty. “Inventory has grown throughout much of the year. As sellers face the pressure of more buying options, they seem to be discounting to attract buyers resulting in list prices being cut for over 46 percent of the homes.” 

The median reduction amount has averaged 1.7 percent to $19,088. 

Florida leads the nation in the largest percentage of discounts to the original list price, with Orlando (12.5 percent discount), Jacksonville (12.1 percent), and Miami/Ft. Lauderdale/Palm Beach (11.9) leading the pack. 

The top 5 markets with the largest overall median price reduction in absolute dollars include

  1. San Francisco: $32,500 median price reduction
  2. Orange County, Calif.: $31,000
  3. San Diego: $29,100
  4. Miami/Ft. Lauderdale/Palm Beach: $25,000
  5. Seattle: $25,000

Source: “ZipRealty’s Monthly Price Reduction Index Reports Double Digit Increase in Number of Price Reduced Home Listings Over Last Year,” ZipRealty (Feb. 10, 2011); Blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee

Foreign Buyers Snatch Up U.S. Property

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Foreign investors are swarming Miami, buying up property and paying with cash. 

Individual investors from Argentina, Canada, Columbia, France, Israel, Italy, Norway, and Venezuela are investing in what they see as a fire sale of U.S. property. 

“I have never seen such a high concentration of foreign nationals acquiring real estate,” says Peter Zalewski, who has been in real estate for 15 years and founded Condo Vultures, a consulting and brokerage firm. “Eighty percent of the sales in downtown Miami are foreign-based. This is unprecedented.” 

Practitioners say they are also seeing similar sales in Seattle, Washington, D.C., New York, Las Vegas, Los Angeles, and San Francisco. 

To meet demand, real estate brokers are hiring sales associates who can speak multiple languages and are investing in overseas marketing tools. 

Source: Associated Press, Michelle Conlin (10/04/2010)

10 Best Cities for Working Women with Kids

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ForbesWoman calculated the best cities for working females raising children. To pick the 10 best, it factored in crime rates, quality of the schools, availability of good healthcare, employment opportunities with high earning potential, and a budget-friendly cost of living. 

Here are their picks

  1. Minneapolis-St. Paul, Minn.
  2. Washington, D.C.
  3. Boston, Mass.
  4. Pittsburgh, Pa.
  5. Baltimore-Towson, Md.
  6. Denver, Colo.
  7. Hartford, Conn.
  8. New York, New York
  9. Seattle-Tacoma, Wash.
  10. Buffalo-Niagara Falls, N.Y.

Source: ForbesWoman, Meghan Casserly (07/26/2010)

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