Hartford was named the nation's hottest real estate market in June, marking its first time at the top since July 2023. Since February 2022, Hartford has consistently ranked in the top 20 markets every month, achieving the number one spot five times. Property views in the region are 4.4 times higher than the national average, the largest disparity among the top 20 markets. The median home price in Hartford is $450,000, only $7,500 above the national average, and it's just a two-hour drive from New York City, where the median home price is $825,000.
Connecticut's appeal extends not only for its proximity to major cities like New York and Boston but also for its excellent public schools and beautiful green spaces. Besides Hartford, Connecticut holds five positions in the top 20 markets, including New Haven-Milford (ranked 9th), Worcester-MA-CT (ranked 12th), Bridgeport-Stamford-Norwalk (ranked 13th), and Norwich-New London (ranked 19th).
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Manchester, New Hampshire, ranks second, with property views 3.3 times higher than the national average. The median home price in Manchester is $598,000, and its appeal lies in being just an hour's drive from Boston, where the median home price is $969,700—nearly double that of Manchester. Additionally, New Hampshire has no state income or sales tax, making it a cost-saving option for commuters from Boston.
Rockford, Illinois, ranks third, just a 90-minute drive from Chicago. In June, homes in Rockford stayed on the market for a median of 19 days, 26 days less than the national average. Rockford attracts many buyers due to its lower cost of living compared to many other cities in Illinois, with a median home price of $220,000.
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Oshkosh-Neenah, Wisconsin, ranks fourth, with property views 3.4 times higher than the national average. Rochester, New York, ranks fifth, with homes staying on the market for an average of 17 days, 28 days less than the national average. For nine consecutive months, the Northeast and Midwest dominated the top 20 markets, with 13 and 7 markets, respectively.
Two new markets entered the top 20 this month: Erie, Pennsylvania, and Syracuse, New York, ranked 17th and 14th, respectively. Syracuse is particularly noteworthy as it had never entered the top 20 before. A university town suitable for family living, Syracuse is located in northern New York, home to Destiny USA, the state's largest shopping, dining, and entertainment destination.
Among the top 300 markets, the markets with the largest increases include Bloomington, Illinois (up 165 places), Champaign-Urbana, Illinois (up 113 places), Syracuse, New York (up 110 places), and Lexington-Fayette, Kentucky (up 107 places).
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Meanwhile, the cities with the largest decreases in rankings include Wichita Falls, Texas (down 138 places), Laredo, Texas (down 133 places), Santa Maria-Santa Barbara, California (down 97 places), and Anchorage, Alaska (down 84 places).
In the hottest markets, homes are selling an average of four days faster than last year, and three weeks faster than the national median in June. Hannah Jones, an economic analyst at Realtor.com®, said, "High demand and scarce inventory have increased property views per listing, intensifying competition in the hottest markets and leading to more active sales."
In this competitive real estate market, understanding the dynamics and trends of these top markets is crucial for both buyers and sellers. Adapting flexibly and staying agile will help achieve success in this evolving environment.
