Akron real estate market among hottest in U.S., Realtor.com says
The Akron metro area — Summit and Portage counties — is the 20th “hottest” real estate market in the nation, a new report shows. The Columbus and Springfield regions also made the top 20 listing.
The report looks at market demand based on unique viewers per property on realtor.com, and the number of days a listing remains active on realtor.com. Realtor.com is the official web site of the National Association of Realtors and is operated by News Corp.
The Akron metro area in March was the nation’s 20th hottest market in part because listed homes were on the market for a median of 31 days, down 41.9% from a year ago. The number of online viewers for listed properties also was above the national average. The median listing price was $180,000.
The Akron metro area ranked as the 25th hottest market in March 2020, according to the Realtor.com report released this week.
Akron returns to busiest homebuying leaders for first time since late 2019
It was Akron’s first time appearing on Realtor.com’s “hottest 20” list since December 2019. Akron appeared in the top 20 six times in 2019, peaking at No. 12 that year.
The website’s Hottest Market Blog does not show “hot” lists broken out of its overall market data for May through December 2020, spanning the early months of the COVID-19 pandemic through the year-end surge of cases.
Springfield and Columbus round out Ohio cities on “hot” list
The Columbus metro area ranked 19th in the nation last month, with listed homes on the market for a median of 29 days, down 27.9% from March 2020. Median listed price was $329,000.
Springfield was the fifth hottest market in the nation last month, the report showed.
California had six markets in the top 20, followed by Ohio and Wisconsin with three markets in each state.
“Around the country, smaller outlying markets continued to rise in the rankings in March,” realtor.com said in its report. “While affordability tends to be a factor in driving homebuyer demand, the hottest markets saw median listing prices 18.9% higher, on average, than the national price in March. This may reflect a willingness of buyers to pursue pricier homes as they aim to lock in favorable mortgage rates, which have been increasing lately and are projected to keep climbing.”
The 20 hottest housing markets in March were:
1. Manchester-Nashua metro area, New Hampshire
Viewers per property: 3.02
Days on market: 19
Median price: $420,000
2. Concord, New Hampshire
Viewers per property: 4.10
Days on market: 20
Median home price: $362,000
3. Vallejo-Fairfield, California
Viewers per property: 1.83
Days on market: 11
Median home price: $550,000
4. Burlington, North Carolina
Viewers per property: 2.29
Days on market: 21
Median home price: $302,000
5. Springfield, Ohio
Viewers per property: 3.17
Days on market: 26
Median home price: $145,000
6. Lafayette-West Lafayette, Indiana
Viewers per property: 2.12
Days on market: 26
Median home price: $297,000
7. Yuba City, California
Viewers per property: 2.20
Days on market: 27
Median home price: $427,000
8. Santa Cruz-Watsonville, California
Viewers per property: 1.68
Days on market: 20
Median home price: $1,222,000
9.Stockton-Lodi, California
Viewers per property: 1.54
Days on market: 17
Median home price: $468,000
10.Spokane-Spokane Valley, Washington
Viewers per property: 1.59
Days on market: 19
Median home price: $435,000
11. Janesville-Beloit, Wisconsin
Viewers per property: 2.78
Days on market: 30
Median home price: $250,000
12. Modesto, California
Viewers per property: 1.54
Days on market: 19
Median home price: $499,000
13. Reno, Nevada
Viewers per property:1.39
Days on market: 15
Median home price: $562,000
14. Worcester, Massachusetts -Connecticut metro area
Viewers per property: 1.83
Days on market: 30
Median home price: $395,000
15. Appleton, Wisconsin
Viewers per property: 2.02
Days on market: 31
Median home price: $302,000
16. Coeur D’alene, Idaho
Viewers per property: 1.49
Days on market: 23
Median home price: $799,000
17. Madison, Wisconsin
Viewers per property: 1.59
Days on market: 28
Median home price: $399,000
18. Eureka-Arcata-Fortuna, California
Viewers per property: 1.88
Days on market: 31
Median home price: $439,000
19. Columbus
Viewers per property: 1.54
Days on market: 29
Median home price: $329,000
20. Akron
Viewers per property: 1.73
Days on market: 31
Median home price:$180,000.
USA TODAY housing and economy reporter Swapna Venugopal Ramaswamy contributed to this report. Beacon Journal business reporter Jim Mackinnon can be reached at 330-996-3544 or [email protected]. Follow him @JimMackinnonABJ on Twitter or www.facebook.com/JimMackinnonABJ.
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