Yuba City was named among the 20 hottest housing markets in the country in March 2021, according to a report released by Realtor.com.
For hopeful homebuyers who are facing an already tough market with low inventory and high prices, the markets mentioned in the report are the most competitive to buy in.
Realtor.com’s team of economists looked at data from listings across the country and determined the top 20 hottest markets based on the number of unique views per property and the number of days a listing stayed active on the website in March. Homes in the markets mentioned received up to four times the number of views per listing compared to the national average and are selling 23 to 44 days more quickly than the typical property in the U.S. overall.
Yuba City was ranked No. 7 on the list with 2.2 times the viewers per property vs. the U.S., 27 median days on the market (the median days on market year-over-year was -34.9 percent), and a median listing price of $427,000.
Ten states were represented in the top 20 list, including California, Idaho, Indiana, Massachusetts, Nevada, New Hampshire, North Carolina, Ohio, Washington and Wisconsin – California had six markets represented.
While affordability tends to be a factor in driving homebuyer demand, the hottest markets saw median listing prices 18.9 percent higher, on average, than the national price in March, according to a press release.
This may reflect a willingness of buyers to pursue pricier homes as they aim to lock in favorable mortgage rates, which have been increasing lately and are projected to keep climbing, according to a press release.