Housing hotspots are the most spread out they’ve ever been
Highlights
- Manchester-Nashua, NH maintains its hold as the hottest housing market in the country for the third consecutive month.
- Top 20 hottest markets are spread out across 15 states — the most geographically diverse list on record.
- The Tampa, FL metro area saw the largest increase in its Hotness ranking among larger metros compared to last year.
New Hampshire maintained its position as the premier housing market hot spot, with the Manchester-Nashua and Concord metropolitan areas claiming both first and second hottest markets in the country in May.
Realtor.com’s Market Hotness rankings take into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on realtor.com.
As pricey West coast markets have lost some appeal due to a combination of affordability concerns and work-from-home flexibility, market activity has spread out across the country. Fifteen states were represented on our list of top 20 hottest housing markets in May, the most of any month on record (since 2016).
California, which in January 2018 claimed 13 of the top 20 spots, now accounts for just 2 of the markets on our list. Midwest and Northeast regions have been gaining ground, together claiming 15 of the top 20 spots on our list in May, up from 12 last year, and the most spots of any May on record. Midwestern markets accounted for 9 of the top 20 markets, while the Northeast accounted for 6 of the top 20.
The states featured in our top 20 list this month are: California, Colorado, Indiana, Kansas, Maine, Massachusetts, Michigan, Missouri, New Hampshire, New York, North Carolina, Ohio, Pennsylvania, Tennessee, and Wisconsin.
As a group, Realtor.com’s 20 Hottest Housing Markets received 1.4 to 2.8 times the number of viewers per home for sale compared to the national rate. These markets are seeing homes for sale move 12 to 31 days more quickly than the typical property in the United States overall.
As home prices reach record highs nationally, the hottest markets represent affordable pockets of housing where buyers can find homes in their price range. The hottest markets saw median listing prices reach $311,000 in May—18% lower, on average, than the national median of $380,000.
May 2021 – Top 20 Hottest Housing Markets
| Metro | Hotness Rank | Hotness Rank YoY | Viewers per Property vs US | Median Days On Market | Days on Market YoY | Median Listing Price |
| Manchester-Nashua, NH | 1 | 5 | 2.8 | 8 | -44 | $415,000 |
| Concord, NH | 2 | 17 | 2.8 | 14 | -46 | $379,000 |
| Burlington, NC | 3 | 2 | 2.7 | 15 | -35 | $275,000 |
| Portland-South Portland, ME | 4 | 34 | 2.0 | 16 | -48 | $458,000 |
| Johnson City, TN | 5 | 43 | 2.7 | 21 | -46 | $300,000 |
| Rochester, NY | 6 | 10 | 1.5 | 11 | -45 | $245,000 |
| Topeka, KS | 7 | -5 | 1.9 | 18 | -28 | $160,000 |
| Fort Wayne, IN | 8 | -8 | 2.1 | 21 | -23 | $250,000 |
| Columbus, OH | 9 | -6 | 1.5 | 13 | -37 | $309,000 |
| Jefferson City, MO | 10 | 31 | 2.2 | 22 | -42 | $185,000 |
| Lafayette-West Lafayette, IN | 11 | 1 | 1.7 | 18 | -34 | $270,000 |
| Elkhart-Goshen, IN | 12 | 26 | 1.6 | 18 | -45 | $180,000 |
| Eureka-Arcata-Fortuna, CA | 13 | 58 | 1.6 | 21 | -49 | $430,000 |
| Saginaw, MI | 14 | 114 | 1.7 | 23 | -61 | $155,000 |
| Worcester, MA-CT | 15 | 6 | 1.5 | 18 | -39 | $390,000 |
| Vallejo-Fairfield, CA | 16 | -15 | 1.5 | 18 | -22 | $550,000 |
| Raleigh, NC | 17 | 88 | 1.4 | 20 | -39 | $410,000 |
| Racine, WI | 18 | -7 | 1.7 | 25 | -28 | $250,000 |
| Pottsville, PA | 19 | 124 | 1.9 | 27 | -55 | $135,000 |
| Colorado Springs, CO | 20 | -13 | 1.3 | 9 | -26 | $481,000 |
Manchester-Nashua Stays on Top
The Manchester-Nashua metro area has been a mainstay in the top 20 hottest markets for several years, especially in the warmer months. Half of all homes in Manchester were selling in under 8 days in May—44 days faster than last year, and 31 days faster than is typical in the rest of the country. Properties in the metro drew in nearly three times as many unique viewers per property as the typical home around the United States. The median listing price of homes in the Manchester-Nashua area was $415,000 in May, up 3.8% year over year, although this price reflects a greater share of condos and townhomes than last year, given the intense popularity of single family homes in the area.
Most Improved Large Markets
Larger urban markets continue to cool down in the rankings, with the largest 40 markets across the country dropping by 32 spots, on average, since last year.
Of the largest 40 metros, the most-improved housing markets were: Tampa-St. Petersburg-Clearwater, FL (+86 spots); Detroit-Warren-Dearborn, MI (+72 spots); Nashville-Davidson-Murfreesboro-Franklin, TN (+49 spots); Riverside-San Bernardino-Ontario, CA (+48 spots); and Jacksonville, FL (+43 spots).
Tampa, FL, which experienced a major stall in real estate activity last May in response to the pandemic, has recovered tremendously, reaching a median time on market of 34 days, the shortest time for any May on record, according to available data going back to 2016. And while some housing markets are seeing lopsided demand leaning toward single family homes, Tampa is seeing condos and townhomes moving just as quickly.
On the supply side, the five most-improved markets combined saw inventory move 33 days more quickly than last year. In comparison, the largest 40 markets overall saw properties sell 24 days faster than last year, on average. The time a typical property spent on the market in the most-improved markets is 11 days shorter, on average, compared to the national rate.
Markets Seeing the Largest Jump in Rankings (May 2021)
| Metro | Hotness Rank | Hotness Rank YoY | Viewers per Property vs US | Median Days On Market | Days on Market YoY | Median Listing Price |
| Tampa-St. Petersburg-Clearwater, FL | 76 | 86 | 1.25 | 34 | -32 | $335,000 |
| Detroit-Warren-Dearborn, MI | 105 | 72 | 0.75 | 22 | -45 | $280,000 |
| Nashville-Davidson–Murfreesboro–Franklin, TN | 62 | 49 | 0.94 | 14 | -23 | $416,000 |
| Riverside-San Bernardino-Ontario, CA | 177 | 48 | 0.67 | 31 | -35 | $520,000 |
| Jacksonville, FL | 188 | 43 | 0.92 | 38 | -29 | $349,000 |
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