The Top 10 Housing Markets Predicted for 2021 – Countdown Part 2
House flippers, a new list published by Realtor.com forecasts the top 10 housing markets for 2021 and we’ve summarized them for you here. We countdown to what’s predicted to be the hottest housing market next year. A region that we service made the list. Let’s go.
#5. Seattle, Washington
With a median home price of $629,050 Seattle is predicted to be the fifth-hottest housing market in the nation in 2021. Its strong economy is boosted by employers like Amazon and Starbucks. When considering employment in the wider metro area tech giant Microsoft can’t be left out of the picture, since it’s headquartered about 15 minutes away in Redmond. Seattle has plenty of highly-rated schools, and house hunters can find a 4-bed/3-bath home in the suburbs for about $450,000.
#4. Boise, Idaho
Boise is a hot potato when it comes to a hot housing market and it’s forecast to take the No. 4 spot. This capital city of the Gem State has a median home price of $445,000 and is attracting Californians—especially retirees—who are looking for lower prices away from the coast. The city’s growing tech sector is a draw for millennials and Gen Xers alike.
#3. Charlotte, North Carolina
Paces Funding is proud to serve the Carolinas, and Charlotte is a charming city of the South that offers beaches, mountains, world-class dining, good school systems, and a warm climate. With a median home price of $368,820 the city has become a popular place for retirees in search of a reasonable cost of living. Aside from its many amenities, Charlotte is well-known as a financial center and serves as headquarters for Bank of America.
#2. San Jose, California
The Top 10 list zigzags back to the west coast to the city of San Jose, which comes in as runner-up. There’s no doubt that this city is one of the country’s most expensive places to live with a median home price of $1,199,050. Situated in the center of Silicon Valley, San Jose is home to tech giants like Facebook, Google, LinkedIn, and Apple, whose presence in the area likely keep home prices high.
Although San Jose’s median home price is one of the highest in the country, homes in this city are still less expensive per square foot than in San Francisco.
#1. Sacramento, California
California now occupies four positions on this Top 10 list and its capital city is predicted to take the No. 1 spot. With a median home price of $554,000, Sacramento is forecast to be the hottest housing market in 2021. The city has experienced an influx of white-collar workers—from the more expensive Bay Area— who are looking for less pricey homes on more sizeable lots. Many of these house hunters are now able to work remotely, but want to stay relatively close to their offices.
Currently, Sacramento is short on home inventory, Realtor.com reports, but for buyers who are able to snatch-up a property $500,000 will buy them a 4-bed/3-bath single-family home in the ‘burbs—they’d pay more than double for the same property in other parts of the Bay Area. Sacramento homes average $284 per square foot. San Francisco runs $679 per square foot.
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