The Top 10 Real Estate Markets to Watch in 2016
The bullish economy has Millennials flying out of the nest to find housing. From New England to the Big Easy, these cities will see the most activity in 2016, according to data from realtor.com.
Biggest Recent Sale: $2.1M
Average SF per Home: 1,632
The hilly capital of Rhode Island is set to be a booming city, complete with its own Little Italy, thanks to spillover from the Boston market. Get a bite on Thayer Street and light the Providence River on fire (seriously, they do this), or even take a few classes at Brown. If you can get in.
Biggest Recent Sale: $1.8M
Average SF per Home: 1,508
Take the Sci-Fi tram to the top of the Gateway Arch to see signed mortgage contracts left and right in “the Lou.” Look for a bunch of new Rams fans (there’s always next year, guys) in 2016.
Biggest Recent Sale: $22.4M
Average SF per Home: 1,501
Ron Burgundy’s hometown was Forbes’ 2014 best city to launch a startup, and the real estate market shows where all that small business wealth is being put to good use. Buyers come for the summer, and stay for the no-other-season-but-summer.
Biggest Recent Sale: $15.9M
Average SF per Home: 1,439
There’ll be a second gold rush in the capital of California in 2016—this time for real estate. The sustainable city gets a ton of spillover from the massive Bay Area market.
Biggest Recent Sale: $71.6M
Average SF per Home: 1,879
It must be called Hot’lanta for the real estate market—its biggest recent sale hit a nice $71.6M. The population of 476,095 is actually decreasing, but realtor.com expects strong real estate activity in 2016.
Biggest Recent Sale: $5.8M
Average SF per Home: 1,809
Expect the land of po boys, beignets and Mardi Gras to continue its bounce-back from Hurricane Katrina with a lot of real estate volume in 2016.
Biggest Recent Sale: $3.5M
Average SF per Home: 2,583
Besides having the the roomiest average properties on this list, Elvis’ hometown also likes to march ducks down the red carpet at its famous Peabody Hotel.
Biggest Recent Sale: $51.2M
Average SF per Home: 2,052
The town of Charlotte was beaten only by Atlanta for biggest recent sale on this list—maybe is was bought by a recent inductee into the city’s NASCAR Hall of Fame (where else would it be?).
Biggest Recent Sale: $3.5M
Average SF per Home: 1,850
It’s no surprise that investors are interested in property near the longest pleasure beach in the world. With pristine parks like Mount Trashmore (really, and it is pristine) who wouldn’t like this town?
Biggest Recent Sale: $20M
Average SF per Home: 1,458
Boston comes in third for biggest recent sale at $20M, but with the highest average price at $595k. Recent MIT and Harvard grads help fill out the city’s oyster happy hours and the voluminous market.
