Chill Out: Cold Cities tops list of top U.S. real estate markets for October

10540 Lennox Lane, Dallas, is listed for $35 million.

At first glance, a headline declaring that the “hottest real estate markets” include no cities in Texas might have house hunters dreaming of a White Christmas in the North or on the East Coast.

Dallas-Fort Worth was not among the top 10 metropolitan real estate markets in October. In fact, no Texas city made it into the top 20, according to a report by Realtor.com.

The No. 1 US housing market for the 11th consecutive month is Manchester, NH, an hour north of Boston, according to the report.

It is followed by Rochester, NY, and Burlington, Vt. Rounding out the top 10 are the metropolitan areas of Wisconsin, Ohio, Connecticut, Indiana, Kansas and Massachusetts.

There’s one thing these places have in common, and it’s ironic that they’re called the “hottest real estate markets in the United States.”

They’re all in cold climates, said Hannah Jones, economic data analyst at Realtor.com.

“In the South and West, which contain hot markets that were really popular even before the pandemic, prices have just been pushed so high,” Jones said. “Even though these are places people would like to live, many buyers have been overpriced.”

Baby, it’s cold outside

So let’s dig a little deeper.

The median list price for a single-family home in Manchester, NH was $495,000 in October. By the way, it’s cheaper in Dallas, at $460,000, even though that’s a 15% year-over-year increase.

So what exactly qualifies a metropolitan market as one of the hottest in the United States?

3226 Leahy Drive, Dallas, is listed at $615,000.

Rankings are based on Realtor.com views in these metropolitan areas and how quickly properties are selling.

Realtors often tell CandysDirt.com that people always move to Texas – for career opportunities, great schools, and no state income tax.

The cost of living in Dallas is 8% lower than the national average, according to Redfin.

And while housing affordability and availability is debatable this year, we place a lot of weight on National Association of Home Builders’ Chief Economist Rob Dietz’s report that Dallas’ housing market will grow. in 2024.

It’s also cold in Dallas, isn’t it?

Ask a native Texan if everything is bigger in the Lone Star State and you’ll probably get an answer like, “And better.”

So we are going to enjoy our long and hot summers, thank you very much.

5328 Pheasant Park, Dallas, is listed for $329,000.

And for those who love sweater weather, there’s plenty to do from December to February, lest you forget last year’s snowpocalypse.

Dallas doesn’t need a title or a national ranking to know it’s a great place to live. The city currently has dozens of listings ranging from multi-million dollar homes to affordable properties. City leaders constantly talk about the need for missing intermediate housing and what they plan to do about it.

So, for those worried that Dallas may not be among the top 20 hottest real estate markets, relax. There is good news for local housing on the horizon.

Leave a Reply