If you’re flexible with real estate investments, every year brings with it new destinations for promising real estate markets. While there are always variables at play, with an early heads up on individual markets you’ll have time to research the locations and pinpoint the best spots for your real estate dollars. And if you’re a real estate agent currently brokering deals in one of these markets, now is the time to begin shoring up your referrals as you’ll have extra incentives to highlight the surging market in your area.
For 2020 there are a number of markets that look to outperform the national average. These just happen to be the best of the best real estate markets to invest.
Top 8 Best Real Estate Markets to Invest
The state capital of Texas has been booming for some time now. Combined with the University of Texas in Austin and the have a wide range of individuals living in the city, looking for homes, apartments, and other amenities — Austin is a hot market right now. One of the major perks of a college town is there will always be new tenants moving in, which is a plus for anyone looking to move into the rental market industry.
In Austin, the median property price sits at a shade under $550,000 and most homes remain on the market for up to 74 days. The Southwest, and especially Texas, continues to grow, so expect big things from the Austin real estate market in 2020.
Raleigh-Durham, North Carolina
The Raleigh-Durham area is another one of those pockets that have been doing well for some time now. North Carolina, in general, has seen a boost in the housing market as it sits perfectly equidistant between the northern East Coast and the Southeast. The median property price in the region is just over $425,000. While this is lower than Austin, the price per square foot is higher at $334 (in Austin it is $285, so residents do get more house per dollar in Austin). Much like Austin, homes will remain on the market for up to 74 days.
Seattle has seen incredible growth over the last decade or so and makes it one of the best real estate markets to invest in 2020. If you have lived in Seattle for an extended period of time you have likely seen this very change. It has gone from a smaller, almost sleepy town, to a booming Pacific Northwest city. It also has a higher median property asking price of $665,000. The price per square foot is also one of the highest on the list at $502. Homes move quickly here in Seattle as well, with the average home sitting on the market for no more than 61 days. It’s nice when you can turn over a house in around two months or less.
Los Angeles, California
LA will almost always find its way near the top of hot real estate markets. It also has one of the largest median property prices you’ll find anywhere in the country at over $812,000. This leaves most people living in metro LA renting, and the rental market is just as booming. For those looking to move into the rental market, it is exceptionally lucrative, with traditional rental income sitting at just over $3,300 per month.
Orlando is more than just superheroes and cartoon characters. It is a growing city. One of the fastest-growing cities in Florida, to be precise. It is a more affordable market (when compared to other entries on the list) with the median property price sitting at just under $340,000. As the industry continues to grow past tourism in the heart of Florida the real estate market here will continue to grow as well.
Much like North Carolina, Atlanta has been continually growing over the last decade-plus. Atlanta and the surrounding suburbs provide access to a city offering everything residents might need, and with the busiest airport in the world, there’s always a flight available anywhere as well. With a median property price of $428,000, it offers home buyers plenty of options, both close to the city and more on the rural side.
Charlotte, North Carolina
Speaking of North Carolina, Charlotte has been growing quickly as well and is on the verge of a major boom. It is one of the more affordable markets at $385,000 and the price per square foot is $193, so homebuyers can maximize their buying potential. Cities throughout the South that have growing industries are all excellent real estate markets as the homes are inexpensive when compared to those in northern states, and the warmer weather is also bringing more homebuyers down, which only helps with the market.
Tennessee has seen growth throughout the state. Memphis has experienced its share of growth, but Nashville is the cream of the crop when it comes to real estate markets in Tennessee. With an average time on the market sitting at under two months (54 days to be exact), this is an excellent market when you want to turn over homes quickly. It also has a continually growing rental income market as well, making it an especially valuable destination for real estate.
Begin Cultivating Your Referrals Today
2020 looks to be an excellent year for each one of these markets. If you are a real estate agent in any of these cities now is the time to begin cultivating your referrals and working toward boosting sales. To take your potential referrals a step further you will want to take advantage of RealProcity. This online network allows you to connect with potential home buyers moving to your community. With powerful search tools, you can pinpoint your exact key demographic and then, from there, Agents across the country can begin referring clients to you. And, best of all, you’ll never pay a cent for using the online referral network until you close a deal brokered through the website. With 2020 in full swing now is the perfect time to take advantage of RealProcity and all its features.