The 10 most livable and most reasonably priced actual property metro areas in america have a variety of different favorable traits in frequent, based on a brand new HouseHunt "Present Actual Property Market Circumstances" survey performed by HouseHunt, Inc., a consumer-oriented Web agency that gives free data to hundreds of house owners, residence patrons and residential sellers throughout the nation. The survey reveals median residence costs vary from $ 130,100 to $ 194,400 for present properties on the market and likewise discovered:
o Nearly all of the 10 metro areas report balanced, good-to-active housing markets with sellers usually getting 95% or extra of their asking costs. Inventories of unsold properties are principally restricted.
o Nearly all of the 10 metro areas are experiencing sturdy job and inhabitants progress and good financial information. They provide high quality life, good colleges and stable household recreation together with different facilities. Gross sales information reveals that many latest residence patrons are relocating from different, typically costlier areas.
o All 10 metro markets are engaging each first-time and move-up patrons due to reasonably priced costs, low mortgage rates of interest and a number of financing choices.
o Median actual property costs for present single-family properties within the 10 metro areas vary between $ 130,100 and $ 194,400, in comparison with the nationwide median actual property value of $ 188,800. 4 of the 10 areas reported double-digit value appreciation prior to now 12 months.
o All 10 metro areas have main universities situated there.
o 5 of the 10 metro areas are standard tourism locations. 9 of the 10 metro areas are situated in heat to reasonable climates.
The 10 most livable and most reasonably priced metro areas as decided by standards developed by "Locations Rated Almanac" (David Savageau) and the newest quarterly median gross sales costs compiled by the Nationwide Affiliation of Realtors are:
1. Salt Lake Metropolis-Ogden, UT $ 157,000
2. Tampa-St. Petersburg-Clearwater, FL $ 172,800
3. Raleigh-Durham-Chapel Hill, NC $ 175,600
4. Houston, TX $ 138,100
5. Phoenix, AZ $ 193,800
6. Cincinnati OH, $ 139,600
7. Louisville, KY $ 130,100
8. Austin-San Marcos, TX $ 154,100
9. Orlando, FL $ 194,400
10.Nashville, TN $ 152,100
4 of the 10 metro areas – Tampa-St. Petersburg-Clearwater, Raleigh-Durham-Chapel Hill, Nashville and Austin-San Marcos – are additionally listed within the newest version of Lee and Saralee Rosenberg's "50 Fabulous Locations To Elevate Your Household" (Melissa Giovagnoli). Like Savageau, the authors give excessive marks for colleges, jobs and enterprise alternatives, household enjoyable, housing affordability, dwelling prices, local weather, well being care, transportation and high quality of life.
Mark Jenkins of Realty Executives in Salt Lake Metropolis, described housing exercise in his metro space as "bettering" from a depressed patrons market. "He stated many patrons are relocating from out-of-state to reap the benefits of the approach to life and decrease residence costs A median value of $ 157,000 would most likely purchase a 2,000 sq. foot residence with three bedrooms, two baths and a two-car storage on a one-third or one-four acre lot in a very good location. College of Utah. One other scorching spot is Park Metropolis, a well-liked ski resort within the close by mountains.
An energetic housing market is reported within the Tampa-St. Petersburg-Clearwater metro space by Linda Ippolito of Keller Williams Realty. She stated the entire space is exploding with progress and new industries. Accessible housing is in restricted provide. Though the median value house is $ 172,800 for the complete metro space, median residence costs are near $ 400,000 in South Tampa. Waterfront properties are additionally priced greater. Common value appreciation is 15.7% prior to now 12 months. A slower-paced however top quality life-style is reported within the Raleigh – Durham – Chapel Hill metro space by Ray Lenahan of Robert Grey Realtors.
"The massive attraction is our Analysis Triangle, three main universities, glorious high quality of life, and reasonable climate," Lenahan stated. He stated the median residence value of $ 175,600 within the metro space might be nearer to $ 190,000 in his market space. "That may purchase a brand new residence with 2,000 sq. ft with three bedrooms, two baths on a half-acre lot.
Houston, with its "can do" entrepreneur spirit and liberal-to-zero zoning restrictions, is attracting individuals from each the East and West Coasts to relocate and to put money into rental properties, based on Kathi Frank of RE / MAX The Woodlands. The Woodlands is a 27,000-acre deliberate group situated 27 miles north of downtown Houston. "Median value residence for the complete metro space is $ 138,100," she stated. "That may purchase a brand new, 1,400 sq. foot residence from a manufacturing builder in North Houston or Woodland Springs." She added: "Property properties are priced from the low $ 200,000s to greater than $ Three million."
Reva Schafer of West USA Realty, reported a restricted stock and a really energetic vendor's market, with sellers often getting 100% or extra of their asking costs. The median value for the metro space is $ 193,800 "however laborious to seek out something underneath $ 300,000 in my space," Schafer stated. "It's extra like $ 350,000 to $ 400,000 as a median value in Scottsdale. Yr-to-year appreciation is 24.4%! She cited large progress within the suburbs of Peoria and Chandler. "A 12 months in the past, buyers have been shopping for from builders and flipping (re-selling) the properties.
Good job progress, company relocations and an bettering native economic system is fueling the housing market within the Cincinnati metro market, based on Saralou Durham of RE / MAX Most well-liked Group. "We’ve fabulous cultural and leisure amenities and a very good high quality life-style," she stated. "A median residence value of $ 139,600 appears a bit low, relying on the world. That sum of money will most likely purchase a small two bed room, one tub residence needing some restore or transforming in one among our small suburban communities."
In Louisville, Charlotte Wright and Michael McConnell of Evergreen Realty in suburban Jeffersontown, acknowledged: "Louisville is now the 16th largest metro space within the nation. Ft. Knox and their households are additionally relocating right here. The median value of $ 130,100 might be low – $ 150,000 could be extra correct.
Ann Parr of RE / MAX Austin Benefit stated well-priced listings are engaging a number of, full-price gives in a really energetic vendor's market. Common time available on the market is 60-90 days. "We’ve youthful professionals who need to stay near downtown however the main place to stay is by the lakes," she stated. Costs vary from $ 150,000 to $ 6 million. "Good properties will be bought for $ 250,000 to $ 350,000. The median value house is $ 154,100 in Austin. That may most likely purchase a starter residence within the Spherical Rock space or a house needing transforming in Central Austin. for $ 200,000. "
One of many hottestest of the 10 metro markets on the record is Orlando, based on Steve Farah of the Royal Realty Group: "We're experiencing unbelievable progress and residential consciousness," he stated. "Our vendor's market is so energetic that listings generally final solely hours, not days. He notes that the median value of $ 194,400 might be low due to excessive demand and the low stock. "A median value of $ 250,000 could be extra practical and would purchase a 3 bed room, two tub residence with 1,700 to 2,000 sq. ft." Because the first quarter of 2004, the median value residence has appreciated 28.7%.
Nashville, the 10th ranked metro space on the record, gives a relaxed, pleasant life-style and reasonably priced residence costs to newcomers, based on Mary Barbee of Coldwell Banker Andrews and Associates. Plus, there is no such thing as a state revenue tax. "The median value of $ 152,100 appears low – it's extra like $ 170,000, relying on location. That sum of money would most likely purchase a three-bedroom, two-bath new residence with 1,200-1,500 sq. ft within the suburban communities of Madison and Smyrna, "she stated. The median residence value is up 11.3% prior to now 12 months within the Nashville metro space.