These Emerging New England Towns Rank Among the Highest for Affordability
Homebuyers have been and continue to be frustrated by the current market. Home values, interest rates, and inflation are still on the high end, but before you throw in the towel, you may want to consider one of these New England towns.
Realtor.com just released a list of the top emerging housing markets that appear to be giving some buyers some breathing room and more of an opportunity to get under contract and close on a new home.
It’s important to understand in the current market that a lot of homebuyers are sacrificing the convenience of being close to a larger city and to their workplaces by allowing themselves to be a little further away than preferred. In most cases, the further away you are from a desirable area, the more affordable homes get. If you’re willing to travel even an extra 30 mins each day, your options will likely increase.
Realtor.com states that both Manchester and Concord, New Hampshire, coming in at #7 and #8 on their list of emerging markets, have homes in the $500,000 vicinity. But when you compare that to the average median price of $849,000 in Boston, you’re looking at a huge price drop. Both of these cities are only about an hour away.
Also only about an hour from Boston, Realtor.com states that buyers not within the means of their budget are migrating to Worcester, Massachusetts, which is only about an hour to the east, and ranking at #20 as one of the country’s biggest emerging real estate markets for the fall of 2023.
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