Are you a real estate agent thinking of relocating? Or maybe you’re considering investing in real estate? Perhaps you just want a change of scenery? If any of these apply to you, you may want to start exploring a few new locales with strong housing markets. And no, you don’t have to move to New York or San Francsisco to find booming real estate markets. In fact, you may be surprised to find some of the hottest real estate markets (not to mention great places to live) south of the Mason-Dixon line.
Take a look at some of the hottest real estate markets in the Southeast…
No. 1 – Atlanta, GA
As the capital city of Georgia, Atlanta has long been a bustling southern metropolis. And recent real estate statistics prove that ATL’s housing market is still going strong. According to data from Movoto, Atlanta’s median list price is $209,900, which is up 2% from a month ago.
Homes in Atlanta are selling fast, but not quite as fast as they were before, which may account for the small dip in list price year-over-year. But make no mistake – home values remain well into the healthy range here.
And by the way, if you’re getting ready to graduate and are looking for a place to start your newest chapter, Atlanta was just named ninth best city for recent college grads by NerdWallet.
No. 2 – Wilmington, NC
Known as the “Port City,” Wilmington is rich in history, culture, and real estate! From historic downtown real estate to beach cottages to an array of condos and townhomes, housing in Wilmington is just as diverse as its people, which include everyone from college students to affluent retirees to seasonal residents and even the occasional movie star.
Homes in “Hollywood East” are surprisingly affordable (especially when compared to other resort destinations in other parts of the country). According to data from Zillow, the median sale price for homes in Wilmington was $178,800 in March 2016.
Rent prices in Wilmington on the other hand are continuing to move up, which is unfortunate for those not in a position to buy. On the other hand, with home prices at reasonable levels and rent on the rise, savvy investors may do well in this market. But be ready for some competition. Homes here are selling fast, with bidding wars becoming more common.
And, as an added bonus, Wilmington was named one of the best cities to start a small business not too long ago. So those of you looking for a great environment for small business start-ups, maybe Wilmington is the place for you.
No. 3 – Charleston, SC
Home prices are getting a little lower in this beautiful southern city, but make no mistake – Charleston remains one of the hottest real estate markets in the region. With a median list price of $295,000 (down 15% from last year), homes in Charleston are slowly becoming more affordable, which could open up the playing field to many more potential buyers.
Named one of the 10 Hot Real Estate Markets to Watch in 2016 by Trulia, Charleston earned accolades not just for its housing stats, but its culture and economy. Known as a mecca for foodies, Charleston boasts 11 restaurants with nominations for the coveted James Beard Awards in 2015. Additionally, Charleston ranked sixth-highest for job growth in the U.S., so this is definitely more than just a vacation town.