HOTTEST HOUSING MARKET IN THE COUNTRY: Burlington, NC

Burlington, NC retained the top spot in August after topping the list last November, according to Realtor.com’s monthly report…(Realtor.com)

• Burlington has been hanging around the top 20 hottest markets since 2019. Half of all homes in Burlington were selling in under 18 days in August—10 days faster than last year, and 21 days faster than is typical in the rest of the country.

• The median listing price of homes in the Burlington area was $290,000 in August, up 1.1% year over year, which was 23.7% below the national median price of $380,000. 

NOTE: The almost flat year-over-year growth probably seems odd. However, it is important to know that Burlington’s median listing price reflects a shift in the mix of homes for sale compared to last year.

• The demand for larger homes during the pandemic has resulted in smaller homes remaining on the market at lower prices. For example, the median home size was 1,429 in August, down 17% year over year; meanwhile, the price per square foot reached $137 per square foot, up 18.7% since last year.

Here is the Top 10 Hottest Housing Market List:

1. Burlington, NC
2. Manchester-Nashua, NH
3. Jefferson City, MO
4. Johnston City, TN
5. Rochester, NY
6. For Wayne, IN
7. Elkhart-Goshen, IN
8. Eureka-Arcata-Fortuna, CA
9. Raleigh, NC
10. Rapid City, SD