These Are the Hottest Housing Markets of 2024: Zillow Knowledge | Entrepreneur

These Are the Hottest Housing Markets of 2024: Zillow Knowledge | Entrepreneur

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Zillow launched its annual list of “hottest cities” this week, and the Northeast dominated for the second yr in a row—Connecticut alone took 4 spots within the prime 10. Zillow analyzed housing metrics, together with client demand, page-view visitors, dwelling worth progress, and the way rapidly houses promote to create the record.

The most popular city of 2024 general is Manchester, New Hampshire. Zillow notes that regardless of “rising curiosity amongst dwelling customers,” contributing to dwelling values “leaping 7.3% over the previous yr, as much as $415,000,” it’s nonetheless cheaper than Boston, which is simply about an hour by automobile away.

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Although Manchester is New Hampshire’s largest metropolis, most locations on the record are thought of “exurbs,” outlined by Zillow as “charming smaller cities located past the suburbs but inside commuting distance of a significant metropolitan space.”

“In one other yr of upper mortgage charges, areas of affordability and alternative had been middle stage in 2024,” stated Zillow Chief Economist Skylar Olsen in a press release. “With the rise of hybrid work fashions, extra persons are discovering hidden-gem cities they could have beforehand missed when every day commutes had been the norm. Patrons are in search of out places that supply the right combination of reasonably priced dwelling and way of life facilities. Including to the worth stress, new listings can stay sparse within the hottest spots as current house owners proceed to carry on and maintain again.”

Just one West Coast market made the record, regardless of it being the No. 1 market in 2021. The Midwest additionally took two spots.

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Manchester, New Hampshire skyline alongside the banks of the Merrimack River in autumn – Getty

Listed here are the highest 10 hottest markets of 2024

1. Manchester, New Hampshire
2. Rockford, Illinois
3. Stamford, Connecticut
4. Columbia, Maryland
5. Bridgeport, Connecticut
6. Allentown, Pennsylvania
7. Peoria, Illinois
8. New Haven, Connecticut
9. Waterbury, Connecticut
10. Sunnyvale, California

Zillow additionally revealed information on particular areas. This is a take a look at some standouts.

The most well-liked massive metropolis: Toledo, Ohio

The everyday dwelling in Toledo is price $121,000, which makes it makes it an “engaging possibility for patrons in search of affordability,” based on Zillow information. Toledo can be near Lake Erie and has a “thriving artwork scene.”

For giant cities, San Jose, California, took No. 2, and Wichita, Kansas, holds the third spot.

Toledo Veterans’ Glass Metropolis Skyway Bridge – Getty

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The most well-liked small city: Elizabethtown, Pennsylvania

A two-hour drive from Pennsylvania’s state capital, Philadelphia, the No. 1 small city on the record is Elizabethtown, which has “picturesque streets, native outlets, and parks,” per Zillow.

Elizabethtown solely has a inhabitants of around 12,000, however houses there usually go beneath contract inside 5 days of being in the marketplace, the report notes.

Different cities that made the record had been No. 2 Vermilion, Ohio, and No. 3 Roscoe, Illinois.

Elizabethtown, Pennsylvania, October 7, 2020 – Putting in a New Yellow Passenger Vintage Coach – Getty

The most well-liked coastal metropolis: Milford, Connecticut

Milford affords 17 miles of shoreline alongside Lengthy Island Sound, which helped it turn into the most well-liked coastal metropolis for 2024.

Additionally in Connecticut, West Haven took No. 2, whereas South Portland, Maine, secured the third spot on the record.

Santa Cruz, California, and Barnstable, Massachusetts, full the highest 5.

Autumn in Milford, Connecticut – Getty

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