{"id":6391,"date":"2021-03-22T08:08:23","date_gmt":"2021-03-22T13:08:23","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=6391"},"modified":"2021-03-28T18:04:37","modified_gmt":"2021-03-28T23:04:37","slug":"realtyhop-market-health-report-march-2021","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/realtyhop-market-health-report-march-2021\/","title":{"rendered":"RealtyHop Market Health Report: March 2021"},"content":{"rendered":"
In this March edition of the RealtyHop Market Health Report, we investigate the strength of the 100 largest housing markets across the United States. To do this, we analyzed over 300,000 real estate listings on RealtyHop to calculate the \u201cmarket health\u201d of each city \u2014 the difference in price between when real estate listings are first put on the market and when they are eventually sold.<\/span><\/p>\n In theory, stronger markets should exhibit fewer price drops and smaller percentage discounts, while weaker markets should show the opposite. Our results explore this metric and shed light on the market health of each major city across the U.S. right now.<\/span><\/p>\n <\/p>\n 2. Henderson, Nevada<\/a> fell one spot as the second hottest housing market for the month of March. Listings in the city required a 2.12% price adjustment to sell, equating to a $7,501 reduction in dollar terms.<\/p>\n 3. Gilbert, Arizona<\/span><\/a> remained strong this month. On average, home sellers only had to cut prices by 2.14% to sell, or about $10,000 per listing in dollar terms.<\/span><\/p>\n 4. Irvine, California<\/span><\/a> rose one spot this month, thanks to tight inventory and increased buyer interest. Properties on average required a 2.26% price reduction, or $20,950, to sell.<\/span><\/p>\n 5. Aurora, Colorado<\/span><\/a> jumped four spots this month to close out our top five. The residential real estate market has become increasingly competitive in Aurora. Sellers only needed to reduce asking prices by 2.32%, or $7,750, to attract buyers.<\/span><\/p>\n <\/p>\n 1. Detroit, Michigan<\/span><\/a> remained the coldest housing market in March. Real estate listings saw an average of 8.16% price reduction per listing, equating to a $6,000 drop in dollar terms.<\/span><\/p>\n 2. Newark, New Jersey<\/span><\/a> fell one spot this month to become the second coldest housing market in the country. Listings required a $28,000 price cut, or 6.02%, in order to be sold.<\/span><\/p>\n 3. Buffalo, New York<\/span><\/a> improved one spot to become the third coldest housing market. Residential listings required a $10,000 price adjustment, or 5.56% off of the initial list price, to sell.<\/span><\/p>\nThe 5 Hottest Housing Markets<\/strong><\/h2>\n
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The 5 Coldest Housing Markets<\/strong><\/h2>\n