Hot Real Estate Markets

Since we spend a good bit of time discussing how real estate functions, we thought it would be a good idea to put a spotlight on some of the hottest real estate markets in the country.

If you have been searching the best real estate websites — looking to find the strongest real estate markets in the US — we have just made things easy for you.

How Do We Decide What Real Estate Markets?

booming real estate markets in the US

booming real estate markets in the US

We are not looking at pointing out the obvious real estate markets such as New York or Los Angels, but our focus is more on the sleeping giants.  We are looking for shining star real estate markets across the country.

We are looking for consistent real estate growth as well as consistency in the growth of the average home price.  All of the local real estate markets we will discuss have driving factors that have let them make the list.  Many have outstanding schools or booming economies which keep housing prices strong.  Some have impressive tourism which is driving home prices.

Wilmington North Carolina

The Wilmington NC real estate market

The Wilmington NC real estate market

Wilmington has proven to be one of the hottest real estate areas in the country.  Although the city of Wilmington proper has seen tremendous growth, we are seeing many of the smaller suburbs of Wilmington have substantial growth too.  Much of the growth of the greater Wilmington real estate market can be attributed to the coastal aspects of the area with its many beaches and luxury homes.

According to www.besthomeinmiami.com/wilmington-real-estate they point out not only the growth of Wilmington, but Topsail Beach, Wrightsville Beach and the area of Pleasure Island.

Wilmington is a large metropolitan real estate market and includes many smaller areas.  With the Greater Wilmington area including many niche real estate markets — we will cover some of the most popular.

Nubricks.com  has mentioned that Wilmington is one of the most affordable places to live in North Carolina — you can read the full article here:  www.nubricks.com/archives/56269/4-of-the-most-affordable-places-to-live-in-north-carolina/

Wilmington Luxury Properties

According to http://www.homesrun.net/wilmington/ – the luxury market in Wilmington is a driving force behind its thriving real estate market.  That article was quoted as saying:

With an explosion in real estate sales in recent years, Wilmington NC has grown as one of the premier destinations for luxury homes. With the range of waterfront home options many people enjoy relaxing on their porch of a historic home with views of the Cape Fear River or one of the many beaches.  If you would rather luxury beachfront living, we can help you find the ultimate oceanfront home where you can watch the sun set over the Atlantic Ocean.  Wilmington offers a wide variety of luxury homes for sale.

Panama City Beach Condos

Everyone is familiar with Spring Break in Panama City Beach.  Most people are not aware that the relitivly small coastal city has seen tremendous real estate growth over the past few years.  With Panama City Beach real estate being driven by tourism, condominiums have been the driving force behind the the thriving real estate market in Panama City Beach.

Beachfront Condos in Panama City Beach

Condos in Panama City Beach

Condos in Panama City Beach

According to www.hall-realty.com/my-blog/buying-a-waterfront-home-what-you-need-to-know/ its the waterfront properties that is driving the market in PCB.  The article goes on to say:

Owning a beachfront home is generally something that most people consider to a factor of the Lifestyles of the Rich ad Famous.  Truth is, if you want to own your own little piece of beachfront real estate, a condo may be a way to make your dream come true.  Condos can be a very cost-effective way to live not only on the water…but on the beach!

Although many potential home-buyers are concerned about the hurricanes that threaten the Florida area, it does not seem to slow the pace of growth for Panama City Beach.  Making sure you have the proper insurance is critical for buying on any coastline.

According to www.imfaceplate.com/condosdelight/finding-your-dream-condo-in-panama-city people are still flocking to the beach because of the wonderful views and lifestyle. They were quoted as saying:

You can locate the Panama City Beach on the Gulf Coast and offers some of the most fantastic views of any beach community. The reason people love to purchase a condo here is to have a perfect place for a vacation home, or just only to retire. You shouldn’t mistake Panama City Beach with Panama City. The beach is located north of the mainland and is the place with the excellent views, and even better nightlife.

 

Boston MA

Boston is one of those cities that has seen such tremendous demand for housing, that some home buyers who are trying to get into the Boston market find the home prices too high.  Anytime a real estate market has tremendous demand for housing, such as in Boston MA, it can be a double edged sword.  If you are a homeowner or property owner in Boston, the increase in property values are a GREAT thing.  If you are struggling to purchase your first home, the rising prices can be very frustrating.  This was pointed out in a recent article on the Boston Real Estate market here http://www.hall-realty.com/my-blog/boston-real-estate/

The article goes on to say:

Looking for a home in Boston? You may want to look elsewhere. The Boston real estate market is broken for many of its potential buyers. Inventory is tight and there is not nearly enough entry level homes. It seems to be that fewer homeowners are trading up. Add in the fact that cash bearing investors and foreign buyers dominate the market which is wonderful for sellers by its often miserable to the ordinary home buyers.

Boston Is a City of Neighborhoods

The Boston Real Estate Market

The Boston Real Estate Market

Boston is well known for their neighborhoods.  You find dramatic differences in architecture as well as home prices from block to block.   We found an article that lays our some of the most popular neighborhoods in Boston.  The full article can be read here:  

Referencing “Moving to Boston” they say:

 

Boston Massachusetts is known for their rich history, diverse neighborhoods, legacy of arts, culture and education. Not to mention there is plenty to do for the whole family! They have an amazing nightlife, along with some of the hottest dinner spots. If you’re looking to move to Boston, their is definitely a neighborhood to fit your needs!

Areas Around Boston

One of the smaller, cozier neighborhoods in Boston is called Bay Village. Its surrounded by Back Bay, Chinatown, Downtown and South End. Its one of the most popular places to live because its smack dab in the middle of everything- but quiet and inviting with its friendly atmosphere. There are restaurants within walking distance, along with Eliot Norton Park. A few other names you may know it by are, the Church Street District, South Cove or Kerry Village. Developer Ephraim Marsh built the neighborhood back in 1820 out of a landfill. Most of the houses look similar to Beacon Hill townhouses, just a smaller version. The neighborhood was settled by residents of Beacon Hill.

 

New Orleans LA

New Orleans has a strong economy from tourism

New Orleans has a strong economy from tourism

The New Orleans real estate market has been on fire ever since Hurricane Katrina.  After the storm, many real estate investors came into the area and bought up many of the “flooded and gutted” homes.  They have since rebuilt those investment properties.  This has this city that is over 300 years old — with thousands of homes recently remodeled and updated.

As quoted from Ashley Bickford about the New Orleans real estate market:

What may come as a surprise to many is that, among the top cities least affected by the Great Recession, New Orleans, LA is also on the list.  This may seem baffling to many readers who recall the devastation and subsequent challenges faced by the Crescent City following the infamous and wide-spread destruction literally poured out by Hurricane Katrina in 2005.  Although the city’s population was greatly reduced following a mass exodus of many of the hardest hit residents, and a temporarily devastated tourism industry, New Orleans’ unemployment rate remained lower than national averages.

Influx of federal funds after the storm coupled with the huge amounts of insurance payments payed to Louisiana residents have insulated New Orleans from the recent recession and real estate downturn.  New Orleans is still known for their tourism, but since the storm NOLA has become a technology hub.