Here’s something you probably already knew: The real estate market stinks like a dead skunk in the middle of the road.
Shocking, I know, but it’s very true. Just try hopping in your car and taking a drive through any given residential neighborhood. You’re essentially guaranteed to see a number of “For Sale” signs that, chances are, have been there a while — and will continue to be there for some time. (We touched on this in an older article detailing the 10 markets that are expected to collapse further in 2012.)
And yet, there are still a few housing markets that have fared much better than others, even some that are actually booming, such as these 10 hot metro area markets.
This Yahoo! Real Estate article outlines America’s top 5 best and worst housing markets, as well as the population, MSA, percentage change, median home value, and median sale price of each. Read on for the list!
Top 5 Best Markets
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 1 – Weston, FL
Percent change: 15.1
MSA: Miami-Fort Lauderdale, FL
Population: 65,333
Median Home Value: $280,000 (August 2011)
Median Sale Price: $335,000 (August 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 2 – Arlington, MA
Percent change: 14.8
MSA: Boston
Population: 42,844
Median Home Value: $475,800 (August 2011)
Median Sale Price: $468,200 (July 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 3 – Brookline, MA
Percent change: +13.6
MSA: Boston
Population: 58,732
Median Home Value: $506,900 (August 2011)
Median Sale Price: $513,200 (July 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 4 – Burke, VA
Percent change: +13.5
MSA: Washington, D.C.
Population: 41,055
Median Home Value: $434,200 (August 2011)
Median Sale Price: $427,300 (August 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 5 – Vienna, VA
Percent change: +12.8
MSA: Washington, D.C.
Population: 15,687
Median Home Value: $638,500 (August 2011)
Median Sale Price: $ 645,400 (August 2011)
Top 5 Worst Markets
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 1 – Homestead, FL
Percentage change: -48.8
MSA: Miami-Fort Lauderdale
Population: 60,512
Median Home Value: $76,000 (August 2011)
Median Sale Price: $96,400 (August 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 2 – Pontiac, MI
Percentage change: -47.4
MSA: Detroit
Population: 59,515
Median Home Value: $33,800 (August 2011)
Median Sale Price: $24,000 (August 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 3 – Trenton, NJ
Percentage change: -46.0
MSA: Trenton
Population: 84,913
Median Home Value: $60,700 (August 2011)
Median Sale Price: $38,000 (July 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 4 – Lehigh Acres, FL
Percentage change: -42.2
MSA: Fort Myers
Population: 86,784
Median Home Value: $63,700 (August 2011)
Median Sale Price: $65,200 (August 2011)
Photo: http://realestate.yahoo.com/promo/americas-best-and-worst-housing-markets-2011.html
No. 5 – Altamonte Springs, FL
Percentage change: -41.3
MSA: Orlando
Population: 41,496
Median Home Value: $86,300 (August 2011)
Median Sale Price: $66,900 (September 2011)
If you would like to see the top 25 best and worst housing markets, check out this article for more info.
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Stephanie Huskey is the resident real estate blogger for Movoto and is very glad she has zero interest in moving to Florida, Michigan, or New Jersey. (Wyoming or bust!) Interested in getting her advice on your blog? She’s currently seeking guest blogging opportunities so she can share her knowledge with new communities! You can find her over here at Elance.com.
