Mon. Dec 23rd, 2024

The Northeast and Midwest will likely be hot with homebuyers this summer. Homes are flying off the shelves in these 8 cities.<!-- wp:html --><p>While most homes around the country are lingering on the market longer than they did last year, the average home in Rochester, New York, defied that trend.</p> <p class="copyright">Cavan/Getty Images</p> <p>Homes are selling like hotcakes in several Northeastern and Midwestern cities. <br /> In Rochester, New York, homes were on the market less than two weeks on average last month.<br /> These 8 cities have neighborhoods with small-town vibes and aren't far from nature getaways.</p> <p>In the Northeast and Midwest, homes are turning into hot commodities this summer.</p> <p>In those regions, homes in some smaller cities with a small town feel and easy access to outdoor activities were flying off the proverbial shelves in May, giving sellers the upper hand, <a href="https://www.realtor.com/news/trends/top-10-cities-for-home-sellers-where-swift-sales-at-high-prices-are-still-going-strong/" target="_blank" rel="noopener">according to a Realtor.com report on Monday. </a></p> <p>That's despite the fact that — overall — the US housing market has been in a slump. The mix of high home prices and interest rates in much of the country has resulted in tepid demand in many areas, denting property values or slowing their rise. Nationally, home prices in May fell year-over-year for the first time since at least 2014, when <a href="http://realtor.com/" target="_blank" rel="noopener">Realtor.com</a> began tracking the data.</p> <p>To be sure, Realtor.com's list is not exhaustive: in order to ensure there was "geographic diversity," it included just one city in each state. Still, it provides some insight into what homebuyers are looking for, and where sellers are most likely to close quickly this summer.</p> <p>Most of the cities that made the cut had a population of under 210,000 people, and many of them — like Portland, Maine; and Milwaukee, Wisconsin — are known for cozy neighborhoods. Each of these cities is also known for its outdoor recreational community and is in close proximity to an ocean, lake, or nature sanctuary. </p> <p>To compile the list, Realtor.com considered the total number of days the typical home in the 50 cities was on the market. It also considered the percentage of listings that saw the asking price dip from the time the house was listed to the time it was sold. The only two cities that were not in the Northeast or Midwest on this list were San Jose, California, and Virginia Beach, Virginia. </p> <p>Insider omitted some geographical outliers and highlighted 8 Northeastern and Midwestern cities. Without further ado, here are those places that seem extraordinarily popular with homebuyers right now, with notes on population, median home prices, and how long a typical home spent on the market last month, per Realtor.com. Insider also included the percentage of homes whose asking prices were cut.</p> <div> <div class="slide"> <div class="slide-title">8. Toledo, Ohio</div> <div class="slide-image">A couple walks through a park in Toledo, Ohio. <p class="copyright">Stephanie Noritz/Getty Images</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/toledocityohio" target="_blank" rel="noopener">Population</a>: 266,301</strong></p> <p><strong>Outdoor activities: </strong>Lake Erie and the Maumee River enable canoeing, fishing, and kayaking. There are also hiking trails in and around the city. </p> <p><strong>Median home price: </strong>$229,950</p> <p><strong>Percent of listings that saw a price dip: </strong>11% </p> <p><strong>Median days on the market: </strong>31</p> <p> </p> </div> </div> <div class="slide"> <div class="slide-title">7. Providence, Rhode Island</div> <div class="slide-image">Providence, Rhode Island. <p class="copyright">Allan Wood Photography/Shutterstock</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/providencecityrhodeisland" target="_blank" rel="noopener">Population:</a> </strong>189,563</p> <p><strong>Outdoor activities: </strong>The Narragansett Bay, which opens into the Atlantic Ocean, offers opportunities for fishing, sailing, snorkeling, kayaking, and paddleboarding. </p> <p><strong>Median home price: </strong>$539,950</p> <p><strong>Percent of listings that saw a price dip: </strong>10%</p> <p><strong>Median days on the market: </strong>31</p> <p> </p> <p> </p> </div> </div> <div class="slide"> <div class="slide-title">6. Milwaukee, Wisconsin</div> <div class="slide-image">Milwaukee, Wisconsin. <p class="copyright">MattGush/Getty Images</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/milwaukeecitywisconsin" target="_blank" rel="noopener">Population:</a> </strong>577,222</p> <p><strong>Outdoor activities:</strong> There are biking trails, beaches along Lake Michigan, and kayaking in three rivers.</p> <p><strong>Median home price: </strong>$374,950</p> <p><strong>Percent of listings that saw a price dip: </strong>9%</p> <p><strong>Median days on the market:</strong> 29</p> </div> </div> <div class="slide"> <div class="slide-title">5. Allentown, Pennsylvania</div> <div class="slide-image">Allentown, Pennsylvania. <p class="copyright">Helen89/Shutterstock</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/allentowncitypennsylvania" target="_blank" rel="noopener">Population</a>: </strong>125,094</p> <p><strong>Outdoor activities: </strong>The nearby Lehigh River offers the opportunity for whitewater rafting. There are also hiking trails in nearby sanctuaries and the Blue Ridge Mountains to the west, and various bike trails throughout the city.</p> <p><strong>Median home price: </strong>$384,250</p> <p><strong>Percent of listings that saw a price dip: </strong>25%</p> <p><strong>Median days on the</strong> <strong>market:</strong> 10%</p> <p> </p> </div> </div> <div class="slide"> <div class="slide-title">4. Worcester, Massachusetts</div> <div class="slide-image">Worcester, Massachusetts. <p class="copyright">Getty Images</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/worcestercitymassachusetts" target="_blank" rel="noopener">Population</a>: </strong>205,319</p> <p><strong>Outdoor activities: </strong>There are dozens of nature trails in the city and opportunities for birdwatching in Quinsigamond State Park. </p> <p><strong>Median home price: </strong>$517,450</p> <p><strong>Percent of listings that saw a price dip:</strong><strong> </strong>10%</p> <p><strong>Median days on the market: </strong>19</p> </div> </div> <div class="slide"> <div class="slide-title">3. Portland, Maine</div> <div class="slide-image">A kayak instructor in Portland, Maine. <p class="copyright">Michael D. Wilson/Aurora Photos/Getty Images</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/portlandcitymaine" target="_blank" rel="noopener">Population</a>:</strong> 68,424</p> <p><strong>Outdoor activities: </strong>There are lighthouse tours on foot or on bike, and plenty of natural retreats such as Fort Williams Park. There is sailing and fishing on the Casco Bay which opens into the Atlantic Ocean. </p> <p><strong>Median home price: </strong>$622,500</p> <p><strong>Percent of listings that saw a price dip: </strong><strong> </strong>7.7%</p> <p><strong>Median days on the market: </strong><strong> </strong>24</p> </div> </div> <div class="slide"> <div class="slide-title">2. Hartford, Connecticut</div> <div class="slide-image">Hartford is the capital of Connecticut and among America's oldest cities. <p class="copyright">Getty Images</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/hartfordcityconnecticut" target="_blank" rel="noopener">Population</a>: </strong>120,686</p> <p><strong>Outdoor activities: </strong>There are hiking trails in several nearby places, such as Talcott Mountain State Park.</p> <p><strong>Median home price:</strong> $424,925</p> <p><strong>Percent of listings that saw a price dip:</strong><strong> </strong>7.1%</p> <p><strong>Median days on the market: </strong><strong> </strong>19</p> </div> </div> <div class="slide"> <div class="slide-title">1. Rochester, New York</div> <div class="slide-image">Rochester, New York. Rochester was ranked as the top city for home sellers' this month by Realtor.com. <p class="copyright">Roland Shainidze Photography/Getty Images.</p> </div> <div class="slide-content"> <p><strong><a href="https://www.census.gov/quickfacts/rochestercitynewyork" target="_blank" rel="noopener">Population</a>: </strong>209,352</p> <p><strong>Outdoor activities: </strong>There are trails along 12,000 acres of parks in the city, and plenty of opportunities to get involved in a variety of watersports — Rochester is in proximity to Lake Ontario, the Finger Lakes, and the Genesee River. </p> <p><strong>Median home price:</strong>$265,000</p> <p><strong>Percent of listings that saw a price dip: </strong>5.9%</p> <p><strong>Median days on the market: </strong>13</p> <p> </p> </div> </div> </div> <div class="read-original">Read the original article on <a href="https://www.businessinsider.com/homes-are-flying-off-the-shelves-in-these-8-cities-2023-6">Business Insider</a></div><!-- /wp:html -->

While most homes around the country are lingering on the market longer than they did last year, the average home in Rochester, New York, defied that trend.

Homes are selling like hotcakes in several Northeastern and Midwestern cities. 
In Rochester, New York, homes were on the market less than two weeks on average last month.
These 8 cities have neighborhoods with small-town vibes and aren’t far from nature getaways.

In the Northeast and Midwest, homes are turning into hot commodities this summer.

In those regions, homes in some smaller cities with a small town feel and easy access to outdoor activities were flying off the proverbial shelves in May, giving sellers the upper hand, according to a Realtor.com report on Monday. 

That’s despite the fact that — overall — the US housing market has been in a slump. The mix of high home prices and interest rates in much of the country has resulted in tepid demand in many areas, denting property values or slowing their rise. Nationally, home prices in May fell year-over-year for the first time since at least 2014, when Realtor.com began tracking the data.

To be sure, Realtor.com’s list is not exhaustive: in order to ensure there was “geographic diversity,” it included just one city in each state. Still, it provides some insight into what homebuyers are looking for, and where sellers are most likely to close quickly this summer.

Most of the cities that made the cut had a population of under 210,000 people, and many of them — like Portland, Maine; and Milwaukee, Wisconsin — are known for cozy neighborhoods. Each of these cities is also known for its outdoor recreational community and is in close proximity to an ocean, lake, or nature sanctuary. 

To compile the list, Realtor.com considered the total number of days the typical home in the 50 cities was on the market. It also considered the percentage of listings that saw the asking price dip from the time the house was listed to the time it was sold. The only two cities that were not in the Northeast or Midwest on this list were San Jose, California, and Virginia Beach, Virginia. 

Insider omitted some geographical outliers and highlighted 8 Northeastern and Midwestern cities. Without further ado, here are those places that seem extraordinarily popular with homebuyers right now, with notes on population, median home prices, and how long a typical home spent on the market last month, per Realtor.com. Insider also included the percentage of homes whose asking prices were cut.

8. Toledo, Ohio
A couple walks through a park in Toledo, Ohio.

Population: 266,301

Outdoor activities: Lake Erie and the Maumee River enable canoeing, fishing, and kayaking. There are also hiking trails in and around the city. 

Median home price: $229,950

Percent of listings that saw a price dip: 11% 

Median days on the market: 31

 

7. Providence, Rhode Island
Providence, Rhode Island.

Population: 189,563

Outdoor activities: The Narragansett Bay, which opens into the Atlantic Ocean, offers opportunities for fishing, sailing, snorkeling, kayaking, and paddleboarding. 

Median home price: $539,950

Percent of listings that saw a price dip: 10%

Median days on the market: 31

 

 

6. Milwaukee, Wisconsin
Milwaukee, Wisconsin.

Population: 577,222

Outdoor activities: There are biking trails, beaches along Lake Michigan, and kayaking in three rivers.

Median home price: $374,950

Percent of listings that saw a price dip: 9%

Median days on the market: 29

5. Allentown, Pennsylvania
Allentown, Pennsylvania.

Population: 125,094

Outdoor activities: The nearby Lehigh River offers the opportunity for whitewater rafting. There are also hiking trails in nearby sanctuaries and the Blue Ridge Mountains to the west, and various bike trails throughout the city.

Median home price: $384,250

Percent of listings that saw a price dip: 25%

Median days on the market: 10%

 

4. Worcester, Massachusetts
Worcester, Massachusetts.

Population: 205,319

Outdoor activities: There are dozens of nature trails in the city and opportunities for birdwatching in Quinsigamond State Park. 

Median home price: $517,450

Percent of listings that saw a price dip: 10%

Median days on the market: 19

3. Portland, Maine
A kayak instructor in Portland, Maine.

Population: 68,424

Outdoor activities: There are lighthouse tours on foot or on bike, and plenty of natural retreats such as Fort Williams Park. There is sailing and fishing on the Casco Bay which opens into the Atlantic Ocean. 

Median home price: $622,500

Percent of listings that saw a price dip:  7.7%

Median days on the market:  24

2. Hartford, Connecticut
Hartford is the capital of Connecticut and among America’s oldest cities.

Population120,686

Outdoor activities: There are hiking trails in several nearby places, such as Talcott Mountain State Park.

Median home price: $424,925

Percent of listings that saw a price dip: 7.1%

Median days on the market:  19

1. Rochester, New York
Rochester, New York. Rochester was ranked as the top city for home sellers’ this month by Realtor.com.

Population: 209,352

Outdoor activities: There are trails along 12,000 acres of parks in the city, and plenty of opportunities to get involved in a variety of watersports — Rochester is in proximity to Lake Ontario, the Finger Lakes, and the Genesee River. 

Median home price:$265,000

Percent of listings that saw a price dip: 5.9%

Median days on the market: 13

 

Read the original article on Business Insider

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