Real Estate Blog

2021 Best Local Real Estate Markets in the U.S.

Gilbert, AZ Ranks #3, and Chandler, AZ Ranks #17 Out of 300 Cities

If you are currently looking for a place to call home, it’s important to understand the housing markets you are considering before investing in a property. The overall 2021 housing market is currently in a unique situation. Mortgage rates are slightly above record lows at a time when many people are also struggling financially due to the pandemic. For those who can afford to buy a home now, it could be a great opportunity. According to Freddie Mac, “the tug-of-war between the economic recovery and rising COVID-19 cases has left mortgage rates moving sideways over the last few weeks, and overall, rates continue to remain low.“ “Purchase application demand is improving, says Freddie Mac, but the major obstacle to higher home sales is due to very low inventory for consumers to purchase.” The median existing home price is up a record 23.6% compared to last year, though home prices and rental rates vary widely across the U.S., based on supply and demand.  

In a recent 2021’s Best Real-Estate Markets report, WalletHub compared 300 cities across two key dimensions, “Real-Estate Market” and “Affordability & Economic Environment ” to determine the best local real-estate markets in the U.S. A total of 18 key metrics were used to evaluate those dimensions. Each metric was graded on a 100-point scale, with a score of 100 representing the healthiest housing market. In the sampling, WalletHub determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order their sample. Each city in the sample was categorized according to the following population-size guidelines:

• Large city: More than 300,000 residents
• Midsize city: 150,000 to 300,000 residents
• Small city: Fewer than 150,000 residents

According to the report, Gilbert, AZ ranked #3, and Chandler, AZ #17 (midsize cities) for the best real estate markets in the U.S. 

Gilbert Housing Market Trends - In July 2021, Gilbert home prices were up 30.5% compared to last year, selling for a median price of $503K. On average, homes in Gilbert sell after 19 days on the market compared to 33 days last year. There were 452 homes sold in July this year, down from 615 last year. View All Gilbert AZ Homes for sale

Current Phoenix Metro Area Real Estate Market Update

Chandler Housing Maret Trends- In July 2021, Chandler home prices were up 25.7% compared to last year, selling for a median price of $475K. On average, homes in Chandler sell after 19 days on the market compared to 34 days last year. There were 410 homes sold in July this year, down from 528 last year. View All Chandler AZ Homes for Sale

Best Real-Estate Markets

According to Wallethub's findings, the best real estate markets in the U.S. include:

1. Frisco, TX 
2. Austin, TX 
3. Gilbert, AZ** 
4. McKinney, TX 
5. Denton, TX 
6. Allen, TX 
7. Durham, NC 
8. Reno, NV 
9.  Roseville, CA 
10. Nashville, TN 
11. Boise, ID 
12. Cary, NC 
13. Murfreesboro, TN 
14. Spokane Valley, WA 
15. Vancouver, WA 
16. Hillsboro, OR 
17. Chandler, AZ** 
18. Seattle, WA

Worst Real Estate Markets

According to Wallethub, the worst real estate markets in the U.S. include:

282. New York, NY 
283. Rockford, IL 
284. Portsmouth, VA 
285. Baltimore, MD 
286. Chicago, IL 
287. Peoria, IL 
288. Erie, PA 
289. Newark, NJ 
290. Mobile, AL
291. Bridgeport, CT
292. Waterbury, CT
293. New Orleans, LA
294. Springfield, IL
295. Montgomery, AL
296. St. Louis, MO
297. Miami Beach, FL
298. Baton Rouge, LA
299. Shreveport, LA

You can view the full report and get your city’s rank by visiting https://wallethub.com/edu/best-real-estate-markets/14889.

Partner With Top-Rated East Valley REALTOR® - Cathy Carter 

Whether you're interested in Chandler or Gilbert homes for sale, or homes in the surrounding East Valley, Cathy Carter provides the kind of knowledge, skills, dedication, and personalized service you need. Known for her friendly and caring personality, Cathy’s personal approach to the real estate process allows her to connect with her clients and uncover the right homes for them. If you are planning on moving to the area from another part of the state or country, Cathy has helped many out-of-area buyers find and get settled into their new homes.

As your agent, Cathy will protect your best interests, advocate for you, negotiate on your behalf, and do whatever is needed to ensure the best results possible. To find out more about Red Mountain Ranch Mesa AZ real estate, please give Cathy a call at (480) 459-8488 or get in touch with her by email. 

RE/MAX Cathy Carter Real Estate & Luxury Homes
Professional REALTOR,® ABR, CRS, CDPE
RE/MAX Alliance Group 
725 W. Elliot Rd., Suite 111 
Gilbert, AZ. 85233
Email or Call: 480‑459‑8488
Toll-Free: 800-519-5578

CATHY CARTER

WWW.REALESTATECHANDLER.COM

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