This could be considered an embarrassment of riches. No more listings that say Greenville is the best. This time it’s the hottest housing market – get it – in the country.
Porchwhich helps homeowners with all things moving, looked at these metrics: prices and sales trending up, fast selling, low inventory, and rare price drops.
They compared 93 of the nation’s metropolitan areas and, true to form, listed them as if they were on a thermometer.
Greenville nipped at 88.9 degrees out of a possible 120 degrees.
“Greenville, SC continues to see prices rise an average of 18% year over year and homes in this metro sell out in an average of five days,” Porch said.
The average sale price in Greenville was $286,400 this year and the average number of sales each month was 1,368.
Richmond, Va., was second at 85.5 degrees. Three of the top 10 were in Texas – El Paso (3), Dallas-Fort Worth (4) and San Antonio (9).
North Carolina had two – Durham (7) and Raleigh (10). Miami-Fort Lauderdale (5), Albuquerque (6) and Orlando (8) complete the list.
The coldest cities? Albany, New York with a temperature of 25.6 degrees (and actually quite chilly with an average January high of 31 degrees).
“Sales prices are only 3% higher than last year, the number of homes sold is down 68% year over year and the share of homes sold at a discount is stands at 11%,” Porch said of Albany.
Now it’s cold.
Next is Stockton, Calif., at 31.6 degrees. Porch said homes continue to appreciate, up 12% since 2021, but are selling more slowly than last year and 12% of homes are selling after a price drop.
California had four total markets on the cold list, including Sacramento (4), San Francisco (8) and Bakersfield (10). Markets saw slower sales and price declines.
Others on the list were Milwaukee (3), Baltimore (5), Chicago (6), Pittsburgh (7), and Minneapolis (9).
At the national level, the average sale price of an advertisement according to Zillow was $347,900 so far in 2022, up 13% from the same time last year.