A mid-size Midwestern city better known for being the name of a clothing company headquartered there than for its status as the ninth-most populous city in Wisconsin has been named the hottest real estate market in the United States by Realtor.com for July, taking the title for the first time ever.
Oshkosh, Wisconsin, a city of nearly 67,000 located just under a 90-mile drive from Milwaukee, has soared the rankings to become the most desirable market in the country, citing its tranquil surroundings and median home values of $374,000, nearly $66,000 under the national median.
According to the website, Oshkosh listings received 3.7 times more views per property in July than the national average, with properties sitting on the market for a median of just 18 days -- over a month shorter than the nationwide average.
Oshkosh was one of several Midwestern cities to reach July's top 20, with markets across the region heating up as a result of lower prices on average in wake of increasing home prices nationwide and climbing mortgage rates.
As for Illinois, Rockford, which has previously been named the nation's hottest real estate market by The Wall Street Journal, came in at No. 4 for July, while Springfield and Peoria cracked the top 20 at No. 12 and No. 16, respectively.
The top 20 solely consisted of cities in the Northeast and Midwest, with high and still increasing home values in many western and southern cities driving many homebuyers elsewhere.
Below is a look at the top 10 hottest real estate markets in the U.S., followed by the median days on the market and median list price if active within the period:
- Oshkosh, Wisconsin - 18 days - $374,000
- Hartford, Connecticut - 22 days - $444,000
- Manchester, New Hampshire - 20 days - $585,000
- Rockford, Illinois - 24 days - $216,000
- Akron, Ohio - 25 days - $257,000
- Monroe, Michigan - 27 days - $305,000
- New Haven, Connecticut - 27 days - $425,000
- Rochester, New York - 21 days - $300,000
- Janesville, Wisconsin - 30 days - $335,000
- Providence, Rhode Island - 27 days - $599,000
More details on the list can be found here.
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