5 Major Cities That Are Secret Hotbeds for Home Buyers
So long, suburbia.
Published Feb 18, 2020 12:26 AM
Hey, urbanites: What if we told you that you didn’t have to move across the country or sacrifice your Seamless account in order to fulfill your lifelong dream of owning a home? A housing market report from Zillow, which looked at such factors as median days on the market and percentage of listings with price cuts, revealed that New York City, of all places, is the best metro area for home buyers.
It’s not that the Big Apple is all that affordable (the median home value last year was $438,300). It’s just that you can take your time (homes stay on the market for around 132 days). In it for the long haul? Here’s the deal on the best five spots to put down roots (and what to expect once the moving van drives away).
#1 New York City
Median home value: $438,300
Percentage of listings with price cuts: 14.6%
We might be biased, but we think New York deserves the top spot for more than just the fact that house hunting is easier than in, say, Pittsburgh. Between the globally inspired homes that await in Brooklyn, cozy day trips, and downright rad laundromats, there’s something for every local. And once you finally do snag the perfect apartment or townhouse, who knows, you might find yourself living next door to Blake Lively or Jennifer Lawrence.
Median home value: $283,800
Percentage of listings with price cuts: 16.7%
Aside from the white-sand beaches, Cuban cuisine, and Art Deco architecture, Miami’s decadent brunch spots are worth the move alone. Sure, your home might not be as extravagant as Gianni Versace’s iconic mansion, but the permanent vacation that is living in Miami is a good excuse to embrace decorating with color.
Median home value: $267,900
Percentage of listings with price cuts: 19.2%
Maryland’s biggest city is about so much more than crabs. With no shortage of cool hangouts (think: historic estates that have been turned into hotels and quirky comic book stores), Baltimore is a coastal paradise for seafood snobs and scholars alike.
Median home value: $224,800
Percentage of listings with price cuts: 18.2%
When we envision a move to the Windy City, it looks something like this chic downtown triplex. Don’t let the weather get you down. When you’re not cuddled up at home, you can seek solace by a fireplace at one of the city’s many chic cocktail bars. Chicago’s outdoor summer festivals will make up for the cold temps you endured.
Median home value: $232,700
Percentage of listings with price cuts: 17.9%
With its farm-to-table restaurant scene and design-centric hotels and Airbnbs popping up everywhere, Philadelphia is heading toward a vibrant future while staying true to its historic roots. Some say that it’s the new New York.
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