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Future homeowners can rejoice because a new study has revealed the most desirable cities where property prices continue to plummet.
New data shows that a more buyer-friendly housing market could be on the horizon, as median listing prices have dropped about 10 percent in several cities.
Joel Berner, economist at Realtor.com noted: ‘The median price of homes for sale in September decreased 1 percent compared to last year, standing at $425,000.
However, the median price per square foot grew 2.3 percent, indicating that the share of “smaller, more affordable homes” inventory continues to rise.
Here are the top 10 states that have had the biggest rate declines:
1.Miami, Florida
With a median list price of $525,000, Miami is one of the cheapest states to buy a home.
Considering the city saw a staggering 12.4 percent year-over-year decline in prices and is expected to see more.
With a median list price of $525,000, Miami is one of the cheapest states to buy a home.
Florida was also recently named the most “fun” state in the country with its large number of restaurants, amusement parks, arcades and music festivals.
2. Cincinnati, Ohio
Cincinnati has long been one of America’s favorite cities due to its vibrant, walkable downtown and thriving sports and entertainment scene.
With a median price of $337,000 and a decrease of 9.5 percent, Cincinnati has become even more ideal for young buyers.
With a median price of $337,000 and a decrease of 9.5 percent year over year, this Ohio city has become even more ideal for young buyers.
3.San Francisco, California
In addition to having near-perfect weather year-round, San Francisco also boasts a number of properties with a median price of $997,500, a drop of 8.9 percent from last year.
In addition to having near-perfect weather year-round, San Francisco also boasts a number of properties with a median price of $997,500, a drop of 8.9 percent from last year.
The city is an ideal location for those who enjoy a diverse culture, beautiful nearby walks, and has many job opportunities.
4. Kansas City, Missouri
In addition to having a thriving arts and cultural scene, with many museums, galleries, and theaters, Kansas City also has a median home price of $389,500.
In addition to having a thriving arts and cultural scene, with many museums, galleries, and theaters, Kansas City also has a median home price of $389,500.
Additionally, the city has a wide variety of housing options, including senior residences, luxury apartments, and studio to 3-bedroom floor plans, giving buyers a wide variety of options.
5.Austin, Texas
Lately, Austin has become a hotspot for tech jobs and a favorite among those working from home due to its low cost of living.
At a median price of $520,000, buyers in Austin have the opportunity to live in spacious homes and enjoy a warm climate and mild winters year-round.
With a median home price of $520,000, buyers in Austin have the opportunity to live in spacious homes and enjoy a warm climate and mild winters year-round.
6. Jacksonville, Florida
This Florida city boasts an excellent job market, almost no job competition and no state income taxes, plus a strong sense of community.
With a median price of $399,000 and a decrease of 6.1 percent, Jacksonville is an ideal city for those looking to raise a family by the beach.
With a median home price of $399,000 and a decrease of 6.1 percent from the previous year, Jacksonville is an ideal city for those looking to raise a family by the beach.
7.Denver, Colorado
While the cost of living in Denver is high by some standards, food and utility prices are below the national average.
Combined with a median list price of $610,250, the city is the best option for those looking to live in a scenic area with multiple outdoor activity options.
Combined with a median list price of $610,250, the city is the best option for those looking to live in a scenic area with multiple outdoor activity options.
8.Orlando, Florida
Orlando is widely known for being home to more than a dozen theme parks, notably Disneyworld and Universal Studios.
With a median price of $429,950, Orlando homeowners have the option to live in the opulence of this sunny city.
The city ranked 14th in quality of life in the study and is one of the most visited cities in Florida.
With a median home price of $429,950, Orlando homeowners have the option to live in the opulence of this sunny city.
9.Tampa, Florida
Coupled with the city’s low cost of living and tropical climate, Tampa has long been a favorite spot for millennials, especially military families, as its median price hits $414,948, a 5.5 percent decrease compared to last year.
Stretching along Florida’s Gulf Coast, Tampa is known as the state’s premier business center and ranks first in terms of quality of life.
Along with the city’s low cost of living and tropical climate, Tampa has long been a favorite spot for millennials, especially military families, with its median price reaching $414,948, a decrease of 5.5 percent compared to last year.
10. Nashville, Tennessee
With a median home price of $547,865 and a decrease of 5.4 percent, homeowners in this city can enjoy a vibrant arts and cultural community, rich history and heritage, plus no state income taxes. .
Nashville is commonly known as the home of country music and the best southern culture.
With a median home price of $547,865 and a 5.4 percent decrease from last year, homeowners in this city can enjoy a vibrant arts and cultural community, rich history and heritage, plus not having to pay state income taxes.
