August marked the eighth consecutive month in which Manchester, New Hampshire, was ranked the hottest U.S. market by Realtor.com. The top 20 hottest markets were all in the Northeast and Midwest.
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There’s no stopping Manchester, New Hampshire, which has been ranked as the country’s hottest housing market for the 29th time since Realtor.com started ranking hot markets, according to data from the listing portal that was released on Wednesday.
This marks the eighth consecutive month in which the metro area has been ranked the hottest. Manchester has remained in the top three hottest markets in the country every month since March 2021.
Realtor.com’s Market Hotness ranking measures market demand (through views on its website) and pace of the market as determined by days on market.
Overall, home prices fell nationally by 1.3 percent year over year in August, but some markets still saw annual price growth.
In the Manchester-Nashua, New Hampshire, metro area, views on listings were 3.3 times that of the typical national level in August. Prices declined 1.3 percent year over year, but price-per-square-foot saw some slight gains.
Listings in the metro area, which is about 55 miles outside of Boston, spent a median of 23 days on market (down three days year over year) and had a median asking price of $550,000.
Nationally, active listings were up 35.8 percent on an annual basis in August, but the 20 hottest markets only saw inventory grow by 20.3 percent year over year.
A 2,260-square-foot home for sale in Manchester for $569,900 | Realtor.com
Top markets represented
The Northeast and Midwest were the only regions represented in August’s list of 20 hottest markets, representing nine and 12 markets, respectively. This marks the 11th consecutive month in which the top hottest markets were exclusively from these regions.
Oshkosh-Neenah, Wisconsin, was ranked the second-hottest market in August, with three times as many property views as typical in the U.S. and a median of 29 days on market. The metro’s median listing price was $330,000 in August.
The affordable metro sits on the western shore of Lake Winnebago and is about 90 miles north of Milwaukee.
A 2,000-square-foot home in Oshkosh, Wisconsin, listed for $299,000 | Realtor.com
Wisconsin saw the greatest number of hot markets during the month, representing five out of the top 20 across La Crosse (No. 10), Racine (No. 12), Janesville (No. 18) and Milwaukee (No. 19). The state’s low cost of living, nationally ranked healthcare, family-friendly perks and close proximity to Chicago and Minneapolis make it an attractive place to live.
Rockford, Illinois; Springfield, Massachusetts; and Concord, New Hampshire, rounded out the list of the top five hottest markets in August.
Winners and losers
Most of the month’s hot markets were also featured in July’s ranking of the hottest markets. Newcomers included La Crosse, Minnesota (No. 10); Erie, Pennsylvania (No. 15); Columbus, Ohio (No. 16); Dayton, Ohio (No. 17); Milwaukee, Wisconsin (No. 19); Lancaster, Pennsylvania (No. 20); and Toledo, Ohio (No. 20, tied with Lancaster).
Syracuse, New York; Reading, Pennsylvania; Springfield, Illinois; Peoria, Illinois; and Rochester, New York, all dropped out of the top 20 hottest markets, but only fell modestly to a ranking ranging from 23 to 53.
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