The 10 most livable and most affordable real estate metro areas in the United States have a number of other favorable characteristics in common, according to a new HouseHunt “Current Real Estate Market Conditions” survey conducted by HouseHunt, ustrendnow Inc., a consumer-oriented Internet firm that provides free information to thousands of homeowners, home buyers and home sellers across the nation. The survey shows median home prices range from $130,100 to $194,400 for existing homes for sale and also found:
o The majority of the 10 metro areas report balanced, tricknpick good-to-active housing markets with sellers usually getting 95% or more of their asking prices. Inventories of unsold homes are mostly limited.
o The majority of the 10 metro areas are experiencing strong job and population growth and good economic news. They offer quality lifestyles, good schools and solid family recreation along with other amenities. Sales data shows that many recent home buyers are relocating from other, ukusapost often more costly areas.
o All 10 metro markets are attracting both first-time and move-up buyers because of affordable prices, low mortgage interest rates and multiple financing options.
o Median real estate prices for existing single-family homes in the 10 metro areas range between $130,100 and $194,400, compared to the national median real estate price of $188,800. Four of the 10 areas reported double-digit price appreciation in the past 12 months.
o All 10 metro areas have major universities located there.
o Five of the 10 metro areas are popular tourism destinations. Nine of the 10 metro areas are located in warm to moderate climates. pm-furniture
The 10 most livable and most affordable metro areas as determined by criteria developed by “Places Rated Almanac” (David Savageau) and the latest quarterly median sales prices compiled by the National Association of Realtors are:
1. Salt Lake City-Ogden, UT $157,000
2. Tampa-St. Petersburg-Clearwater, FL $172,800
3. Raleigh-Durham-Chapel Hill, pmfurniture NC $175,600
4. Houston, TX $138,100
5. Phoenix, AZ $193,800
6. Cincinnati OH, $139,600
7. Louisville, KY $130,100
8. Austin-San Marcos, TX $154,100
9. Orlando, FL $194,400
Four of the 10 metro areas – Tampa-St. Petersburg-Clearwater, simpellenen Raleigh-Durham-Chapel Hill, Nashville and Austin-San Marcos – are also listed in the latest edition of Lee and Saralee Rosenberg’s “50 Fabulous Places To Raise Your Family” (Melissa Giovagnoli). Like Savageau, the authors give high marks for schools, jobs and business opportunities, family fun, housing affordability, living costs, climate, health care, transportation and quality of life.
Mark Jenkins of Realty Executives in Salt Lake City, described housing activity in his metro area as “improving” from a depressed buyers market.” He said many buyers are relocating from out-of-state to take advantage of the lifestyle and lower home prices. A median price of $157,000 would probably buy a 2,000 square foot home with three bedrooms, two baths and a two-car garage on a one-third or one-four acre lot in a good location. Highest home price appreciation is occurring near the University of Utah. Another hot spot is Park City, a popular ski resort in the nearby mountains.
An active housing market is reported in the Tampa-St. Petersburg-Clearwater metro area by Linda Ippolito of Keller Williams Realty. She said the whole area is exploding with growth and new industries. Available housing is in limited supply. Although the median price home is $172,800 for the entire metro area, median home prices are closer to $400,000 in South Tampa. Waterfront properties are also priced higher. Average price appreciation is 15.7% in the past year. A slower-paced but high quality lifestyle is reported in the Raleigh – Durham – Chapel Hill metro area by Ray Lenahan of Robert Gray Realtors.
“The big attraction is our Research Triangle, three major universities, excellent quality of life, and moderate weather,” Lenahan said. He said the median home price of $175,600 in the metro area is probably closer to $190,000 in his market area. “That will buy a new home with 2,000 square feet with three bedrooms, two baths on a half-acre lot. Either that, or, it would buy an older home in a more established neighborhood,” he added.