Top 10 Markets for Buyers and Sellers

Who doesn’t love a good top 10 list to start the week?

We’ve compiled the latest data from Realtor.com to give you a glimpse into the top 10 markets for both buyers and sellers. 

Let’s dive in!

Top Markets for Buyers

With continued low housing inventory, many markets continue to see multiple offers on well-priced homes, bids over the asking price, and buyers walking away disappointed. 

But, in other markets, things are starting to shift for buyers—so much in some, that there’s even been an increase in seller concessions. To find out where buyers have the most bargaining power, Realtor.com’s data team analyzed metropolitan areas where home listings have increased the most. 

To be clear, the increase in inventory is not due to a rise in new listings (in fact, fewer new listings went on the market in January 2023 compared to a year earlier). But, homes in many areas are now staying on the market longer, which means there are more active listings for buyers to choose from. 

And while it’s still a seller’s market overall, these 10 metro areas (which include the main city and surrounding towns, suburbs and smaller urban areas) saw 30,500 more active listings in January 2023 than in January 2022. 

Here are the top 10 markets for buyers, based on the increase in active listings YoY:

• Ogden, UT: 392% increase in active listings year-over-year
• Huntsville, AL: 319% 
• Nashville, TN: 304%
• Austin, TX: 260%
• Sarasota, FL: 259%
• Raleigh, NC: 255%
• Fayetteville, AR: 211%
• Phoenix, AZ: 190% 
• Seattle, WA: 181%
• Colorado Springs, CO: 164%

Top Markets for Sellers

In January, many were optimistic that this year we’d see an increase in new listings for the spring market. And now that it’s March, people are—well, less hopeful. 

Some sellers know that buyers are backing out of the home search due to affordability. Others don’t want to sell their property only to re-enter as a buyer with a much higher interest rate. Which means sellers are staying put.

But just like there are pockets across the nation that are better for buyers, there are metros where sellers continue to see multiple offers and strong bids. And once again, the data team at Realtor.com pulled the stats. 

Here are the top 10 markets for sellers, based on the increase in price per square foot YoY:

• Davenport, IA: 38.4% increase in price per square foot year-over-year
• Montgomery, AL: 26.5%
• Wichita, KS: 19.8%
• Tulsa, OK: 18.5%
• Youngstown, OH: 18.1%
• Minneapolis, MN: 17.1%
• McAllen, TX: 16.4%
• Harrisburg, PA: 16.1%
• Little Rock, AR: 15.9%
• Knoxville, TN: 13%

For sellers who want (or need) to move, today’s low inventory, coupled with near-peak prices means it is a great time to start making seller preparations. 

There’s a lot of talk about home prices down from the peak. But year over year, a lot of markets are still up.

Danielle Hale

Realtor.com Chief Economist

Takeaways for Real Estate Agents

The current real estate market is complex and varied across the country. While many are still experiencing low inventory and high prices, others are seeing a shift toward more buyer-friendly conditions. 

Continue to educate consumers about the local trends in your market—because chances are, they don’t have a full understanding of what’s happening.