(news nation) — For the second year in a row, the Northeast dominated Zillow's list of hottest housing markets.
Manchester, New Hampshire ranks top on real estate website 2024 rankingThis was based on consumer demand metrics such as page view traffic, home value growth, and home sales velocity.
Typical home prices in Manchester have increased by 7.4% over the past year to $415,000. The city has received particular attention from out-of-area buyers, Giroux said, indicating strong interest in relocating.
Four Connecticut cities made it into the top 10: Stamford, Bridgeport, New Haven, and Waterbury.
Other Northeastern cities, including Allentown, Pennsylvania, and Columbia, Maryland, were also the most popular.
Most of the cities on this year's list were suburban, or small towns outside the suburbs, but still within commuting distance of major metropolitan areas.
“With the rise of hybrid work models, more people are discovering the hidden gems of cities they missed when daily commutes were the norm,” Skyler Olsen, chief economist at Zillow, said in a statement. said.
Olsen added, “Buyers are looking for locations that have the right mix of affordable living and lifestyle amenities.”
Only three cities outside the Northeast made the top 10: two in Illinois (Rockford and Peoria) and Sunnyvale, California.
Zillow's top 10 most popular markets for 2024:
- Manchester, New Hampshire
- Rockford, Illinois
- stamford, connecticut
- Columbia, Maryland
- bridgeport, connecticut
- Allentown, Pennsylvania
- Peoria, Illinois
- new haven, connecticut
- waterbury, connecticut
- Sunnyvale, California
Other popular housing markets in 2024
Zillow also determined the hottest markets across various categories.
Most popular metropolises:toledo, ohio
“The typical home in Toledo is valued at $121,000, making it an attractive option for buyers looking for affordability,” Zillow noted.
Most popular small towns:Elizabethtown, Pennsylvania
“Elizabethtown, with a population of 12,000, has picturesque streets, local shops, and parks, all of which are of interest to Zillow shoppers,” the report states.
Most popular coastal cities:milford, connecticut
Zillow writes, “With 27 miles of coastline along Long Island Sound, this area offers plenty of waterfront attractions, including beaches, parks, boating, and more.”
Most popular holiday towns:portland maine
According to Zillow, “Visitors flock to Portland for a coastal getaway, famous for its art scene, architecture, and seafood.”
Most popular retirement cities:Pahrump, Nevada
Zillow: “With a warm climate and more than one-third of the population over the age of 65, Pahrump is an ideal community for retirees.”
Most popular student towns:normal, illinois
Home to the Illinois State University Redbirds, Normal is currently Zillow's most popular college town.
