16
Jun
11

6 Most Promising Real Estate Markets, Is Your City One Of Them?

Here are the six cities expected to lead the housing rebound this year, according to Inman News and other sources:  Washington-Arlington-Alexandria, D.C. -VA.:  The metro area was one of the few markets to see year-over-year gains in its home prices.

*  Median sales price:  (Q4 2010):  $331,100

*  Median sales price % change:  (Q4 2009 – Q4 2010):  8.1 percent

*  Foreclosure activity rate (2010):  one in 49 units

Buffalo-Niagara Falls, NY:  This metro area for the last years has boasted a low delinquency rate and one of the lowers foreclosures rates in the country.  It also has one of the fastest rising median list prices in the nation.

*  Median sales price:  (Q4 2010):  $126,500

*  Median sales price % change:  (Q4 ’09 – Q4 ’10):  14.3 percent

*  Foreclosure activity rate (2010):  one in 322 units

Des Moines, Iowa:  The city has a low unemployment rate and one of the highest projected job growth rates for the third quarter of 2011.

*  Median sales price:  (Q4 2010):  $151,300

*  Median sales price % change:  (Q4 ’09 – Q4 ’10):  5.5 percent

*  Foreclosure activity rate (2010):  one in 79 units

Portland-South Portland-Biddeford, Maine:  The Maine community has plenty of reasons for making the list, including a low unemployment rate with projected job growth, a rising median sales price, and highly affordability.

*  Median sales price:  (Q4 2010):  $223,000

*  Median sales price % change:  (Q4 ’09 – Q4 ’10):  8.3 percent

*  Foreclosure activity rate (2010):  one in 150 units

Kennewick-Richland Pasco, Wash.:  Rising household income and a rise in the median price helped this Washington metro make Inman’s list.

*  Median sales price:  (Q4 2010):  $183,000

*  Median sales price % change:  (Q4 ’09 – Q4 ’10):  8.9 percent

*  Foreclosure activity rate (2010):  one in 161 units

Fargo, N.D.:  This North Dakota community is becoming more desirable with its low unemployment (about four percent), which is lower than nearly any other state in the nation (the national average is about nine percent).

*  Median sales price:  (Q4 2010):  $148,500

*  Median sales price % change:  (Q4 ’09 – Q4 ’10):  6.2 percent

*  Foreclosure activity rate (2010):  1 in 7,423 units

How do the statistics compare to your neighborhood, we would love to hear so we can compare.

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Jennifer Ferri, Owner

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