5 best cities for buyers and sellers
New data from Realtor.com finds the national median home price about what it was a year ago, the number of listings down and a rising number of cities showing price declines.
The latest data from Realtor.com has some useful information for people planning to buy and sell homes this year.
The average median listing price in January 2013 was about what it was in January 2012. What’s more important is the price trend locally. According to new data from Realtor.com, prices were up in 71 cities, down in 51 cities and the same in 24 cities. For the sixth straight month, the number of cities showing price declines rose.
The number of homes listed for sale was down 16.47% from last January, and listings are spending less 9.24% less time in the multiple-listing service.
Post continues below
"If inventories remain low — and if list prices begin to rise during the next few months, as they did last year — conditions are ripe for additional house-price appreciation in 2013," Realtor.com wrote. "However, such gains are likely to be concentrated in markets already well into their recovery process, such as California, Phoenix, Seattle, Washington, D.C., [Florida and Nevada]. Markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economy. However, if inventories in these areas remain high, it could effectively set the stage for further declines in housing values in these local markets."
Looking at all the data, Realtor.com has listed the five best cities for buyers and sellers.
If you’re looking to buy, you might want to check out Asheville, N.C., the popular destination for Floridians in western North Carolina. Listing prices are down 0.4% over last January, and homes are staying on the market for 149 days, one of the longest timelines in the country.
If you want to sell your home, you’ll do best in in Sacramento, Calif., where the number of homes for sale was down 67.2% from a year ago. The median listing price was up 40.2%, making California capital a great place to be a seller.
Other top buyers markets:
- Peoria-Pekin, Ill.
- Charleston, W.Va.
- Cleveland-Lorain-Elyria, Ohio
Other top sellers markets:
- San Jose, Calif.
- San Francisco
- Phoenix-Mesa, Ariz.
- Washington, DC.
About Teresa Mears
Teresa Mears is a veteran journalist who has been interested in houses since her father took her to tax auctions to carry the cash at age 10. A former editor of The Miami Herald's Home & Design section, she lives in South Florida where, in addition to writing about real estate, she publishes Miami on the Cheap to help her neighbors adjust to the loss of 60% of their property value.