Savvy investors across the U.S. have been watching the real estate market to see which ones look like they will soon hit bottom and begin bouncing back from all the foreclosures. There are several that are experiencing either a slowdown in falling prices or are bouncing back already. These are the markets that are the least risky to invest in real estate.
Charlotte, NC – Real estate prices in Charlotte are down $50,000 from where they were a year ago, but up $26,000 from January of this year. The average list price started at $270,680 last year, but is now down to $224.465. The yield from the list price is down only 2.33% from a year ago. The median home price in this city is around $185,600. That’s up 6.4% from last year.
Oklahoma City, OK – Real estate prices are remaining fairly steady in Oklahoma City. What’s interesting about this market is that it never really experienced the spike in home values and the subsequent nose dive like many of the other major U.S. cities. Foreclosures are up, but, contrary to other U.S. cities, home values have only declined somewhat. The average sale price is $139.632, down by 6.35% from the same time last year. The median home price is $134,400, up 12.1% from last year.
Portland, OR – Real estate prices in Portland have fallen around 19% since they hit an all-time high in July 2008. The median sale price of a home in this city in July 2008 was $174,000. Today, the same home will sell for $141,000. The number of homes on the market is down from its peak in 2008 where 4,495 homes were available for sale. Today, the number is 3,523. That’s a 22% decline in homes for sale. Only 8% of homes on the market are sold today compared to 14% of homes sold in 2008.
San Antonio, TX – Real estate prices are gaining in this city. The median price for San Antonio homes were at their highest in 2007 at $141,500. The current median sale price for homes is $136,000, only $5,000 less two years later. Home listing prices have increased by $1,000 from March 11 to April 1 of this year.
Seattle, WA – Real estate prices are rising in Seattle. They are at the same place they were in September of 2008 and in April of 2006. Sales surged by 35% in March of this year, up 26% from March of last year. The median price of a home in Seattle is $387,450, up almost 13% from a year ago. This market is definitely on the upswing.
Raleigh, NC – Real estate prices have fallen in Raleigh to $210,000, down from $217,000 a year ago. The median home price is $201,800, which is up 6.3% from last year. Number of homes on the market is only up 200 from last year’s figures – from 7909 to 8103. One interesting item to note about this city is the 5% growth it has experienced every year for the past five years. The number of jobs increased in Raleigh by 3500, which probably contributed to the city’s growth.
insidesanantoniorealestate.com provides information about the San Antonio real estate market. Their site has information on San Antonio area schools along with a San Antonio real estate blog.
[tags]real estate, least risky real estate markets, san antonio real estate, homes, realty, economy, realt[/tags]
|
|