Real estate prices are up all across the nation — and Florida’s real estate scene is higher than most. The price of average homes nationwide is up 5 percent nationally since last year.
As significant as that is, it’s nothing compared to what’s going on in Florida. Let’s take a closer look.
New Jersey’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 84
- How many homes are sold above original list price? 50%
- How many homes are sold within 2 weeks of being listed? 37%
- How long does it take for the average home to sell? 2 months and 10 days
When it comes to this past year’s real estate, New Jersey boasts the ninth-most competitive scene in the nation. Just over half of the state’s available homes are sold above their list price.
California’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 84
- How many homes are sold above original list price? 60%
- How many homes are sold within 2 weeks of being listed? 51%
- How long does it take for the average home to sell? 1 months and 11 days
It’s been a truly golden year for Golden State real estate. Ranked as the 8th-most competive housing market in the nation, Californian homes are flying on an doff the market at a breakneck pace. The average home stays on the market for just 41 days before being snatched up by buyers. And the state’s competitive market score? It’s 24% higher than the rest of the nation.
Vermont’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 86
- How many homes are sold above original list price? 36%
- How many homes are sold within 2 weeks of being listed? 43%
- How long does it take for the average home to sell? 2 months and 27 days
One could be forgiven for thinking of hippie culture and artisanal dairy products when the state of Vermont comes to mind — yet this state’s real estate market has become big business. It’s now the 7th-most competitive state in the nation when it comes to real estate. Many people whose jobs or educational opportunities once relegated them to life in New York City or Boston are relocating to Vermont now that life has moved online.
Nebraska’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 86
- How many homes are sold above original list price? 53%
- How many homes are sold within 2 weeks of being listed? 75%
- How long does it take for the average home to sell? 25 days
Property in Nebraska is being snatched up astonishingly fast. The average home stays on the market for just 25 days. Despite the intense competition, Nebraska’s housing remains affordable, which makes it a great place for new homebuyers. The average home sells for just two-hundred and thirteen thousand dollars! And homes aren’t the only thing that’s cheap here — Nebraska offers one of the lowest overall costs of living in the entire nation.
Utah’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 87
- How many homes are sold above original list price? 60%
- How many homes are sold within 2 weeks of being listed? 65%
- How long does it take for the average home to sell? 27 days
Utah’s scenic environment and wellness-conscious culture have made it a top destination for new homeowners. Utah’s retail estate market is the 5th-hottest in the US. The Salt Lake Tribune described it as “overheating.” And the stats confirm it: nearly two-thirds of Utah’s available homes are sold within two weeks. If you wish to get in on the action, you’ll have to act fast!
Oregon’s real estate scene
- How competitive is the market? On a scale of 1 through 100: 87
- How many homes are sold above original list price? 56%
- How many homes are sold within 2 weeks of being listed? 67%
- How long does it take for the average home to sell? 1 month
Most of Oregon’s homes sell above their original list price — and within two weeks of their list date. These metrics make the Beaver State’s real estate scene the fourth-hottest in the nation. Surrounding states, like Washington and California, are booming too. New buyers say they love Oregon’s natural beauty and outdoorsy-yet-refined feel.
How Florida real estate is different
As exciting as the real estate market is in Nebraska or Vermont, Floridian real estate is moving even faster.
Many industry experts feel that Florida’s home market has plateaued out at a sort of new normal. In other words, Florida’s status as a top destination for new homebuyers is likely here to stay. Of 20 housing markets that are cooling off this year, reports Islander News, none of them are in Florida.
Summing things up
We can’t pretend that Florida is the only state in the nation with desirable real estate right now. We can say, however, that things are on an entirely different level down South. Get in touch with us on our contact page if you’d like to get in on the action and experience what the Sunshine State is all about.
