Markets Reached New Peak in February!
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March 14, 2022
The top-performing real estate markets in February reached a peak median price: $562,000, according to an analysis by realtor.com®. That marks a 43% jump over last month’s national median list price of $392,000, also a record high.
Realtor.com® releases a monthly report of the hottest housing markets in the country, tracking metros that have seen the fastest sales and the highest listings traffic at its site.
Manchester, N.H., remained the top-performing housing market in the country in February, a spot it has held 10 times over the past year. The city has a median list price of $439,900, considerably lower than nearby Boston’s $725,000 in January. The median price of properties continues to rise across the country.
“The shortage of inventory has led to a fast pace of sales, with buyers snapping up properties as soon as they hit the market,” says George Ratiu, realtor.com®’s senior economist. “Moreover, the surge in mortgage rates in the first six weeks of the year further prompted buyers to find a home before rates move even higher. These factors have pushed median prices to record highs, not only in the hottest markets but across the entire country.”
The following are the top 12 performing metros in February, along with their median list price, according to realtor.com®.
Manchester, N.H.: $439,900
Santa Cruz, Calif.: $1,243,250
Raleigh, N.C.: $430,000
Springfield, Mass.: $317,250
Topeka, Kan.: $184,950
Rochester, N.Y.: $225,000
Boulder, Colo.: $851,742
Portland, Maine: $522,000
Salinas, Calif.: $909,000
Vallejo, Calif.: $593,500
Burlington, N.C.: $314,253
North Port, Fla.: $547,500
View the full list of February’s hot housing markets at realtor.com®.
Source: “The Hottest U.S. Real Estate Markets Just Hit a New Record-High Price—Prepare to Be Shocked,” realtor.com® (March 10, 2022)