9 HOT SELLING REAL ESTATE MARKETS IN AMERICA IN 2021
With the statistics and booming technological advances, this is an ideal time to be a homeowner. Especially in certain areas which are now high-demand real estate markets. Zillow’s survey by 113 real estate experts suggests that these 9 states will be the leading housing markets in 2021.
This means more bidding wars, higher prices, and slimming inventory to choose from. If you are a homeowner in one of these 9 hot selling states, you are already ahead of the game.
- Georgia
In 2020, Georgia observed the peak of its real estate sales. So much so, there were only a few units available for buyers. 2020 was entirely a seller’s market in Georgia. With high demand increasing the prices by 17%.
Technological developments brought home buyers and sellers closer through Flat Fee MLS companies and real estate websites. Flat Fee MLS Georgia has made home transactions smoother, more transparent, and saved thousands of dollars for the buyers.
2. Tennessee
Nothing has slowed down the housing market in Tennessee. Not even the Covid-19 pandemic could affect the seller’s market here. With millennials moving to this state to make a career or to chase a peaceful life, the real estate graph is going upwards. With access to Flat Fee MLS Tennessee, sellers are able to list and sell their homes in the fastest and most cost-effective manner possible.
The inventory dropped in July 2020 to the lowest it has been in five years. People wanting to live in Tennessee have to elbow their way through the crowd. Experts predict Tennessee will outgrow its real estate expectations.
3. Arizona
Inventory in Arizona has dropped sharply since last year. This is not surprising because Arizona is booming with job opportunities, an affordable yet easy-going lifestyle, and uninterrupted views of the Grand Canyon. April to June were the busiest months Arizona has witnessed in the housing market. With a ton of people moving to the southwestern U.S. state, the inventory is obliterating.
As per Fox10Phoenix, almost 10,80,000 people moved to the heart of Phoenix last year. 69% of real estate experts believe this market will outperform the national average.
4. Washington
No matter which government runs the country, the capital city is always an in-demand real estate market. This is due to the limited luxury homes available. The inventory is limited, so much so, that only 89 properties worth more than $3 million were sold in 2019. During 2019 and 2020, Washington witnessed over 25% increase in sales activity due to the widespread use of Flat Fee MLS Washington State. Even in such a situation, there is a bidding war going on to own luxury homes.Â
5. New York
Do we need to say much about this city? New York, the heart of America is an ever-growing real estate market. The inventory is always on the short since people come here to hustle, make a living, and build a career here. However, with the lockdown lifting and the loosening of the restrictions, the market is opening up, and how! This is probably the best time to invest in New York real estate.
The market has been easy on investors for the last several years and the inventory has grown. With low interest rates, the New York market has historically rebounded. There are opportunities out there that may not exist in the near future. So get your hands on the hottest selling real estate market before it is too late.
6. New Jersey
Whether it is a single-family home in the suburbs, a beach-front cottage, or a high-rise luxury dwelling, New Jersey has got everything for everyone. One of the ​​booming real estate markets in the nation, New Jersey offers a luxurious lifestyle, beautiful beaches, and wonderful wildlife in the form of national parks.
The real estate market in New Jersey is unstoppable, thanks to ever-growing commercial and industrial development here. This encouraged a continuous flow of people from other states to New Jersey. After the pandemic, New Jersey is now welcoming new and smart home buyers and flat fee MLS New Jersey is gaining popularity.
7. Alabama
Alabama is often overlooked as an investment market but this Gulf Coast state is home to some savvy investors. If you know your real estate game, the capitalization rate of this quiet state can go from 9% up to 18%, making it one of the lucrative real estate markets in America.
Alabama is a neutral market. There are not tons of houses on the market, however, the buyers have time to weigh their options and choose what suits them the best.
The property value is rising here with every passing day. Experts suggest the Alabama real estate market will see an appreciation of 8.1% till next year.
8. Michigan
According to Houzeo, a leading American real estate company, Michigan observed a peak in home selling during the month of August 2021. There was a 9.5% rise in home sales. The latest trends show that Michigan is being increasingly competitive, with bidding wars being the new norm.
Low-interest rates in Michigan are attracting home buyers, thus making the upper midwestern state one of the hottest selling real estate markets on this list. Millennials are the new addition to the population here.
Even though the prices in the Greater Metropolitan area have increased significantly, the houses have stayed in the market for not more than 18 days. This increase in demand was seen in August 2021 and is comparatively higher than in 2019. A major reason for this increase is the feasibility and accessibility of Flat Fee MLS Michigan.
9. Illinois
One of the bustling real estate markets, Illinois holds unending opportunities for investors. As per Illinois Realtors, the housing market is thriving since 2020 while there was a major drop in the inventory. Annual sales were up by 9.6% and prices saw a 7.7% rise.
Illinois has lately been one of the hottest real estate markets and not even the economic uncertainty has stopped it from hitting the high point. Experts predict this market situation will stay constant for quite some time, given the mortgage rates in Illinois being as low as 3%.
BOTTOM LINE:
Whether you are planning to buy a property for residential purposes or just as an investment, now is the right time. With Flat Fee MLS websites becoming the larger picture of the housing market, sellers are now opting for the “For Sale By Owner” method. This doesn’t burn a hole in their pockets, helps them secure more profit, and makes the transaction more transparent.
Coupled with an increase in work-from-home opportunities, these prime locations mentioned above could be the next hotspot in America. One of the easiest and safest steps to start looking for potential buyers is to list your house on real estate websites that offer more visibility and higher buyer engagement.
