A Comparison of Current Real Estate Trends Across the US
Have you ever wondered how the real estate market varies from one city to the next? To get a better idea of the differences, we invited three real estate professionals—Jennifer Bullock in Wilmington NC, Robert Little in Las Vegas, and Howard Goldberg in South Florida—to compare and discuss current real estate trends in each of their respective cities. In this blog post, we’ll take a closer look at what they had to say to gain a better understanding of the state of the US real estate market.
Jennifer Bullock Discussing Wilmington NC Current Real Estate Market:
She explained that low interest rates have created an affordability gap that has driven up demand for homes in her area. This has resulted in a few different trends within the local housing market. First, many buyers are opting for larger homes with more amenities than they would normally choose because lower interest rates make them more affordable. Second, there is an increased competition for desirable properties due to a limited supply of homes on the market. This means that buyers must act quickly if they want to secure their desired home.
The median home price in Wilmington, NC has seen a significant increase over the past year. In January 2021, the median home price was $407,000, an 8.3% increase from the previous year when it was $375,000. This steady rise in prices is due to several factors that have made Wilmington a desirable city for real estate investors. One of these factors is the city’s low unemployment rate and strong job growth, which have created a stable housing market.
The average days on the market in Wilmington NC is 45, from the time of listing to the time of sale. This indicates that homes in this area are selling quickly and clearly demonstrates how desirable Wilmington is as a city for real estate investors. The low unemployment rate and robust job growth has drawn in many people who want to purchase homes here, which has contributed to the high demand for housing.
Wilmington NC currently has 2 months of inventory, which is significantly lower than the national average of 4.6 months. This indicates that demand for homes in this area is exceptionally high and that homes are quickly being sold as soon as they become available on the market. The low inventory combined with stable job growth, low unemployment rates, and attractive home prices make Wilmington an attractive city for real estate investors.
Robert Little Discussing Las Vegas Current Real Estate Market:
Real estate activity in Las Vegas came to a stop around late 2020, due to the pandemic and associated economic downturn. However, activity has picked back up since January 2023, with an increase in demand for homes across the city. This upturn is largely due to the stable job market and low interest rates, making it an attractive destination for real estate investors.
The median home price in Las Vegas is currently $320,000, which is a 0.3% decrease from the previous year when it was $321,000. The low prices mean that buyers can purchase more house for their money and have access to a greater selection of properties on the market. The average days on the market for Las Vegas is 40, indicating that homes there are selling quickly due to the high demand from investors.
Las Vegas currently has 4 months of inventory on the market, which is slightly higher than Wilmington NC (2 months) but significantly lower than the national average of 4.6 months. This indicates that demand for homes in Las Vegas is still incredibly high and that properties are quickly being sold soon after they become available on the market. The low inventory and attractive home prices make Las Vegas an ideal destination for real estate investors.
The current real estate market in Las Vegas has experienced a significant drop in sales due to the ongoing pandemic, with a decrease of around 50% compared to pre-pandemic levels. This downturn has been exacerbated by an increase in interest rates which have further hindered buyers' ability to purchase homes at attractive prices.
Although the Las Vegas real estate market has experienced some turbulence due to the pandemic, there is still considerable potential for investors. Low prices combined with an increase in demand mean that properties are quickly being sold as soon as they become available on the market. The stable job growth and low interest rates make it an attractive destination for those looking to invest in real estate.
Howard Goldberg, South Florida Connection | Current Real Estate Trends:
The state of Florida is a popular destination for both tourists and real estate investors alike, according to Howard Goldberg. With its vibrant culture, sunny beaches, and growing economy, it’s no surprise that many people are drawn to the Sunshine State. South Florida in particular has seen an influx of new residents over the years due to its attractive climate and low cost of living. In addition, the current real estate trends in this region have made it even more appealing to those looking to invest in property.
The state of Florida is a popular destination for people looking to experience the “Florida lifestyle”, which is what Howard Goldberg sales. The state's warm climate, sunny beaches, and vibrant culture are all part of what attracts so many tourists and real estate investors to South Florida each year. Recently, this region has seen an even greater influx of new residents due to its attractive cost of living and booming real estate market. This hot market has been driven by strong demand from both locals and out-of-state buyers who want in on the action. With prices rising steadily over the past few years, it's no surprise that more and more people are turning their attention toward investing in property in South Florida.
Currently, the real estate market in South Florida is even hotter than before due to an influx of new listings. This has caused a 30% increase in the number of homes available on the market, offering buyers more options and opportunities for investment. Prices are continuing to rise, as demand from both out-of-state and local buyers remains strong. Interest rates remain low, so buyers who can afford to take advantage of this market are in a great position to make some lucrative investments.
According to Howard Goldberg, housing prices in South Florida have begun to level out after an extended period of rapid growth. The increases seen over the past few years have led to a market that is more balanced than it was before. This leveling out of prices can be attributed to an increase in inventory, which gives buyers more options and provides them with a chance to find the perfect property for their needs. Despite the recent plateau in prices, many potential buyers and investors remain drawn to the South Florida market due to its vibrant culture and booming economy. With attractive prices, low interest rates, and a plethora of available properties, it's easy to see why so many people are looking to invest in real estate in this region.
The Las Vegas real estate market has seen a significant decrease in prices due to the pandemic, with a drop of around 50% compared to pre-pandemic levels. This downturn has been further exacerbated by the recent increase in interest rates, which has made it even more difficult for buyers to purchase homes at attractive prices. Despite this, many potential buyers remain interested in the Las Vegas real estate market due to its unique culture and robust economy.
Overall, the current real estate trends in South Florida point toward a strong future for the region. Despite a recent plateau in prices, demand from both out-of-state and local buyers remains strong, making it an attractive destination for those looking to invest in property. With attractive prices, low interest rates, and a plethora of available properties, it’s easy to see why so many people are drawn to this region. As the market continues to stabilize and prices begin to rise again, South Florida is sure to remain an increasingly popular destination for real estate investors in the years ahead.
Howard Goldberg has built a strong reputation as one of the leading real estate agents in South Florida. He is dedicated to providing his clients with the best service and advice, ensuring they are able to make informed decisions when deciding to invest in property in this region. With years of experience and an extensive knowledge of the local market, Howard Goldberg is the perfect person to help you make your next real estate move. Contact him today to learn more about how he can assist with your real estate investment needs.
Overall, the real estate market in Wilmington NC is vibrant and full of potential for those looking to invest their money wisely. With its attractive climate, booming economy, and strong demand from both locals and out-of-state buyers, it’s no surprise that Wilmington is becoming increasingly popular as an investment destination. Prices are still relatively low compared to other parts of the country, and with a range of desirable properties available on the market, now is a great time to invest in this region. If you’re looking for a solid real estate investment with plenty of potential, Wilmington might be the perfect place to put your money. For more information on Wilmington real estate and advice on how to get started, contact Jennifer Bullock today. She has a wealth of knowledge and experience when it comes to investing in this region, and she'll help you find the perfect property for your needs. With her help, you can make an informed decision and start taking advantage of the many opportunities that Wilmington has to offer.
Contact Jennifer Bullock today for more information about investing in Wilmington real estate and advice on getting started. With her expertise and experience, she’ll be able to provide you with all the essential information needed to make an informed decision and get the most out of your investment. With her help, you can find the perfect property to fit your needs and start taking advantage of all that Wilmington has to offer. Investing in real estate can be a great way to build wealth and secure your financial future, and Jennifer Bullock is the perfect person to help.