We’ve got earthquakes, soaring summer temps, and a five-year-old drought that shows no signs of letting up. And yet, California lays claim to 40% of the territory recently named as the most in-demand real estate markets in the United States. This is creating hot times in the Golden State.
Data analyzed by Realtor.com in June of 2015 revealed the cities across the country where properties are in the hottest. Out of the top 20 results, California plays host to eight of the towns.
The team conducting the research used several factors to come up with their assessments. One data point was comparing the number of views for a listing, as compared with the total number of listings in the 300 largest housing markets across the nation. Another data point was the median number of days a property remained available before it was sold.
Using the results of this research, the team narrowed down the findings to determine the 20 hottest spots in the nation where properties were moving quickly. Narrowing it further to the top five, California still takes the crown, with three of its cities listed in that elite club.
Those who don’t live in the Golden State are struck with California dreaming, and are eager to move here. Those who already live here love it, and want to stay here. This brings about a tight market, where demand is high and asking prices keep rising. Properties that are put up for sale aren’t available very long before they’re snatched up by eager buyers.
According to the findings, the hottest cities for real estate in California are:
. Stockton (ranked 16th out of 20)
. San Diego (12th)
. Sacramento (11th)
. Santa Cruz (10th)
. San Jose (6th)
And in the top five:
. Santa Rosa (4th)
. Vallejo (2nd)
. San Francisco (1st)
Nationally, median list prices are around $233,000 (this is up 7% from the previous year), and the median time properties sit on the market awaiting sale is approximately 66 days (this is down 7% from the previous year).
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