Median home prices hit a new high for September
With relatively cheap homes that aren’t on the market too long, both Fort Wayne, Ind., and Waco, Texas, cracked the top 10 hottest real estate market list for September, as determined by Realtor.com.
Homes in Fort Wayne (No. 7) stay on the market for 51 days and sell for a median price of $144,000. In Waco (No. 10), properties sell for $174,900, and are on the market for 52 days. Fort Wayne and Waco were ranked 11 and 14 in August.
The rankings were determined by days on the market and by number of views that listings on Realtor.com received. The top six, led by San Francisco, was shuffled but intact from last month.
Also, the median home price remained at August’s level of $250,000. That is 9% higher than one year ago, and a record high for September.
“The fundamental trends we have been seeing all year remain solidly in place as we enter the slower time of the year,” says Realtor.com’s chief economist, Jonathan Smoke. That means short supply and high demand, which results in high prices.