Hartford CT check the list price
November 2022 median list price for a home: $372,400
Price adjustment for 2023: 8.5%
2023 sales change: 6.5%
Hartford has defied the general housing market decline that is currently taking place. The state capital of Connecticut has witnessed housing prices rise and the quantity of properties for sale decline. It is located around 90 minutes southwest of Boston and 2.5 hours northeast of New York City.
In October, the “Insurance Capital of the World” was listed as one of the nation’s hottest markets. The regional headquarters of organizations like Aetna, The Hartford, and Cigna are all located here.
“We’re still receiving folks coming in from out of state,” says Lisa Barall-Matt, a real estate broker associate with Berkshire Hathaway HomeServices New England. She has her home office in West Hartford, a more suburban community nearby Hartford.
“Our market went grown dramatically, but our [prices] are still attractive,” she continues. “Since we were so cheap before the pandemic, we could handle it.”
In the third quarter of this year, buyers from expensive locations like New York City, Boston, and Washington, DC logged the most out-of-the-area views of houses in the metro on Realtor.com, perhaps due to the increased availability of remote employment.
Houses are still selling for more than the asking amount and receiving numerous offers. Nevertheless, according to Barall-Matt, residences now only receive three to five offers as opposed to the 20 to 30 offers each property received before selling for 20% above the market price. The days of paying six figures more than the asking price are also over. Houses often fetch 3% to 5% more than the asking price.
Pricing increases continue, according to Barall-Matt. “The demand from stalled buyers is great and the supply is limited.”
El Paso Tx
November 2022 median list price for a home: $290,500
2023 price change: 5.4%
Change in sales for 2023: 8.9%
The American Army’s Fort Bliss is located in El Paso, which is located at the westernmost point of Texas, close to the border with Mexico. The local housing market has remained active thanks to the ongoing mobility of contractors, connected businesses, and service providers.
That might help to explain why people from states other than Texas made up more than half of those who looked at El Paso listings on Realtor.com. Outside of the metro area made up two thirds of the customers. Listings received the most out-of-area views from Phoenix, Dallas, and Salt Lake City.
In the city, about 40% of buyers paid cash for their properties. 24.2% of those who used loans did so from the US Department of Veterans Affairs. The VA loans are appealing since buyers don’t need to put any money down and frequently qualify for lower interest rates on their mortgages.
This property in Fort Bliss has four bedrooms, two bathrooms, a carport, and is available for $141,588 for anyone looking for a good deal. Perhaps they can check out this $235,000 three-bedroom, two-bathroom home with a pergola in the backyard.
Louisville KY, see the list price
November 2022 median list price for a home: $290,000.
2023 price change: 8.4%
Change in sales for 2023: 5.2%
The state’s largest city, which is also the site of Kentucky Fried Chicken and the Kentucky Derby, has grown significantly as a manufacturing hub in recent years. Such jobs, along the low housing prices and cost of living, have made it a desirable area for homebuyers.
According to data from Realtor.com, almost half of individuals looking at houses in the area came from other states. For those seeking additional space, the region offers some of the nation’s most affordable homes. During the epidemic, it was also well-liked by investors, however this has subsequently halted as prices and mortgage rates have increased.
For $275,000 buyers can purchase this brick ranch house with three bedrooms, 1.5 bathrooms, and a sizable terrace. For less than $200,000, those on a tight budget can check out this newly restored two-bedroom, one-bathroom home.
November 2022 median listing price: $161,100
2023 price change: 6.7%
2023 sales: 4.2%
Toledo, on Lake Erie an hour south of Detroit, is our lowest housing market. Low prices have drawn out-of-state buyers and investors to the Midwestern auto and glass manufacturing hub.
“Since the rush,” says Key Realty’s Rick Turner. There are still purchasers, though. Phones keep ringing.”
Metro purchases are 35.2% cash. With reduced borrowing rates, we had a huge summer backlog of purchasers. Turner says everyone fought over stuff. “Feeding frenzy is over. Sellers must accept that customers are more choosy and improve their game to attract them.”
Turner says investors are still seeking $50,000–$150,000 rental houses. Out-of-state buyers want cheaper homes. Locals are getting into the market after understanding that a mortgage may be cheaper than rent.
Buyers are suffering with increasing inflation, rising rents, and rising mortgage rates despite more Toledo metro area properties for sale.