Despite all of the talk of downturn and slowdown, some markets are still quite hot. A survey by HouseHunt revealed that the top 12 metro areas are seeing homes sell within 30 days or less. Approximately 46% of the sellers in these areas are receiving at least 100% of their asking prices. Seventy-eight percent of sellers are entertaining multiple offers. The top spot is occupied by Charlotte, NC, where the median price of an existing home is $174,500. According to the National Association of Realtors, Charlotte's median housing price is $56,500 less than the national median, which is currently $231,000. According to the survey, the average annual price appreciation of homes in the top 12 metro areas is between 5% and 10%. The top 12 include: - Charlotte, North Carolina, with a median price of $174,500.
- Seattle, Washington, with a median price of $338,600.
- Nashville, Tennesee, with a median price of $165,300.
- Salt Lake City, Utah, with a median price of $184,000.
- St. Louis, Missouri, with a median price of $137,900.
- Washington, DC, with a median price of $442,500.
- Portland, Oregon, with a median price of $267,700.
- Austin, Texas, with a median price of $167,200.
- TIE -- San Francisco and San Jose, California, with a median price of $720,400 and $746,000.
- TIE -- Los Angeles and Southern California, with a median price of $396,200 and $712,000.
The survey indicates that population growth, move-up buyers and multiple-home owenrs account for 62% of sales in these areas. |
