Hottest Real Estate Markets in the US: A Midwestern City Takes the Top Spot
Oshkosh, Wisconsin: The New Crown Jewel of Real Estate
A mid-size Midwestern city, better known for being the name of a clothing company headquartered there, has taken the top spot as the hottest real estate market in the United States, according to Realtor.com for July. Oshkosh, Wisconsin, with a population of nearly 67,000, has surpassed expectations to become the most desirable market in the country.
What Set Oshkosh Apart
So, what makes Oshkosh so attractive to homebuyers? According to Realtor.com, the city’s tranquil surroundings and median home values of $374,000, nearly $66,000 under the national median, are major factors. Additionally, Oshkosh listings received 3.7 times more views per property in July, with properties sitting on the market for a median of just 18 days, over a month shorter than the nationwide average.
Midwest Dominates the Top 20
Oshkosh was not the only Midwestern city to crack the top 20. Other cities in the region, including Rockford, Illinois, Springfield, and Peoria, also made the list at No. 4, No. 12, and No. 16, respectively. The top 20 solely consisted of cities in the Northeast and Midwest, with high and still increasing home values in many western and southern cities driving many homebuyers elsewhere.
Top 10 Hottest Real Estate Markets
Here are the top 10 hottest real estate markets in the US, along with the median days on the market and median list price if active within the period:
- Oshkosh, Wisconsin – 18 days – $374,000
- Hartford, Connecticut – 22 days – $444,000
- Manchester, New Hampshire – 20 days – $585,000
- Rockford, Illinois – 24 days – $216,000
- Akron, Ohio – 25 days – $257,000
- Monroe, Michigan – 27 days – $305,000
- New Haven, Connecticut – 27 days – $425,000
- Rochester, New York – 21 days – $300,000
- Janesville, Wisconsin – 30 days – $335,000
- Providence, Rhode Island – 27 days – $599,000
Concluding Remarks
In conclusion, Oshkosh, Wisconsin, has taken the top spot as the hottest real estate market in the US, beating out cities like Hartford, Connecticut, and Manchester, New Hampshire. The city’s tranquil surroundings, low median home values, and high demand have made it a highly desirable location for homebuyers.
FAQs
Q: What are the top 10 hottest real estate markets in the US?
A: The top 10 hottest real estate markets in the US are Oshkosh, Wisconsin, Hartford, Connecticut, Manchester, New Hampshire, Rockford, Illinois, Akron, Ohio, Monroe, Michigan, New Haven, Connecticut, Rochester, New York, Janesville, Wisconsin, and Providence, Rhode Island.
Q: What are the median days on the market and median list price for these cities?
A: The median days on the market and median list price for each city can be found in the above table, with the top 10 hottest real estate markets.
Q: Why are Midwestern cities dominating the top 20?
A: Midwestern cities are dominating the top 20 due to lower prices on average in wake of increasing home prices nationwide and climbing mortgage rates, making them more attractive to homebuyers.
