Anyone who has house hunted over the last year — or knows someone who has — has seen the real estate market present unprecedented challenges for buyers. Inventory has been low across the country, causing prices nationwide to jump an average of 13.2% between June 2020 and 2021.
Many buyers have had to pull out all the stops in order to get their offers chosen, including waiving inspections and appraisals while paying well over the asking price. It can be an overwhelming experience. But it doesn’t have to be that way. Depending on where you’re looking to buy your next home, some markets are a bit easier to enter. Which is why we decided to break down the data to find the most accessible real estate markets in the country, based on the following criteria:
- Median sales price of single family homes (2nd quarter 2021) to gauge general affordability. (from National Association of Realtors)
- Change in median days on market year-over-year. Many areas are experiencing a much shorter list period. (from Realtor.com)
- Average sales to list price (as of July 2021). This shows how much over the list price homes have sold in the area. (from Redfin)
- Change in active listings year-over-year to determine how much inventory has dropped. (from Realtor.com)
You’ll notice a mix of types of cities on our list; some of the nation’s largest cities made the cut due to changes in the types of areas some buyers want to live, especially with the opportunity for remote work.