Name a real estate hot spot and surely you would be thinking of Florida, New York or California right? Realtor.com reveals that although these places are indeed amazing places for investors to check out, a new winner has emerged when it comes to its hottest markets for 2013. St. Louis is now at number 2 right next to Providence, Rhode Island. A report from Fox 2 Now revealed.
St. Louis-based Premier Realty Exclusive knows that St. Louis has been an overlooked real estate market. They cite high tech job opportunities; amazing cultural attractions and the newly renovated Gateway Arch for reasons that could make the St. Louis market a hot spot next year.
Chris Crus, owner of the realty company says that once people see what they can get out of living in St. Louis, they will be motivated to move into the city and to purchase a property. The mentioned reasons will definitely put the city on the map.
Affordability is another reason the realty company owners point out along with a downward inventory. Prices are getting more affordable than ever compared to other markets in the country.
According to CEO John Gormley, "Certain parts of California, the average sale price is going to be $400,000, even approaching half a million," said Gormley. He says the average home sale price in the St. Louis market is near $236,000. "Although it's on the move, it's still very affordable."
The CEO believes that the diversity of properties available for sale is another factor that bolsters St. Louis even more. Therefore no matter what type of property an investor is looking for, such as a big house in the suburbs or a home in a high rise or maybe something in the middle, St. Louis has a lot to choose from.
Realtor.com also mentioned the following markets in its hot list: Providence, RI, San Diego, CA, Sacramento, CA, Atlanta, GA, New Orleans, LA, Memphis, TN, Charlotte, NC, Virginia Beach, VA and Boston, MA.