In a recent analysis of July 2015 sales data, Realtor.com made a list of the 20 hottest real estate markets in the US. Which cities made the list? Where did Austin fall? First, let’s look at how they analyzed the data to get the results.
What Metrics Were Used to Determine the Hottest Real Estate Markets in the US?
Realtor.com looked at the supply and demand of medium to large size markets in the US. Then, they compared views per listing and days on market to the national average. The cities that made the 20 hottest real estate markets in the US list had an average 1.5-3 times the number of views per listing and sold 24-41 days faster than the national average. Interestingly, nationwide days on market dropped 14% in year over year numbers, showing how strong demand for housing is, considering we are approaching our first seasonal market slowdown as kids go back to school.
Austin Named #16 on Hottest Real Estate Markets in the US List
After the data was analyzed, Austin came in at #16 on the hottest real estate markets in the US list. Though Austin dropped a few spots from previous year’s lists, it still remains a strong real estate market. Interestingly, I have noticed Austin home buyers are a little less willing to drive up prices in multiple offer situations and they are waiting longer to make offers than they did last year. But, sellers are also much more aggressive in pricing, so they are still getting more for their homes than they would have last year. That being said, with more people moving to Austin than moving out of Austin, demand (and the market) still remains strong.
Hottest Real Estate Markets in the US
Below you’ll see how the rest of the list of the 20 hottest real estate markets in the US shaped up.
- San Francisco, CA
- Denver, CO
- Dallas, TX
- Vallejo, CA
- Santa Rosa, CA
- San Jose, CA
- Midland, TX
- San Diego, CA
- Ann Arbor, MI
- Santa Cruz, CA
- Detroit, MI
- Sacramento, CA
- Stockton, CA
- Yuba City, CA
- Columbus, OH
- Austin, TX
- Los Angeles, CA
- Oxnard, CA
- San Antonio, TX
- Fort Wayne, IN
For more about the list, click here.
Live in San Francisco? Move to Austin!
In news that probably surprised no one, San Francisco was named the hottest housing market in the US. Having grown up in San Francisco and practicing real estate there for several years before relocating to Austin, I can attest to the fact that the San Francisco market is one of the most most competitive real estate markets in the US. Though San Francisco housing prices continue to go up, the market refuses to lose steam. Given the level of demand and pricing, is not surprising many San Francisco residents are relocating to Austin, just like we did. Austin is a great mix of the great parts of California combined with a little bit of Texas and the South.
Considering Buying a Home in Austin?
With over $200MM of real estate sold and a combined 60+ years of experience in all types of markets, we can help you buy the best home in Austin for you and your family at the best price. If you’re looking for someone who knows the Austin area and the Austin real estate market, rather than someone who will push you to buy the most expensive home you can afford, we might be a good match. Check out our Austin Home Buyer page to learn more about our team and how we work. Then, call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Buyer Survey to get started.