Though California tends to dominate the US property market, some of the hottest property markets in the USA can be found outside of the Golden State.
Overseas property investors are always looking for capital growth, and the following five cities have been providing just that in the US.
Midland Texas
A relatively small city in the west of Texas, Midland has been the has been the hottest property market in the United States for a couple of years now. In fact, the past five years has seen capital growth of around 22 per cent according to SmartAsset. Former president George Bush would be proud of his childhood home town.
Columbus Ohio
The larger city of Columbus, the 14th most populated city in the US, is deemed to be the second hottest property market.
Properties in Columbus stay on the market for an average of only 32 days before sold. Substantially less time than the national average time of 54 days in America.
Boston-Cambridge
The third hottest property market is Boston. Properties here have an average listing price just shy of the million-dollar mark at $999,500.
The city remains one of the most popular to purchase in thanks to great weather, a wide range of culinary delights, and plenty of things to do while living there.
Fort Wayne, Indiana
A much cheaper investment option can be found in the fourth hottest property market of Fort Wayne.
The average price per square foot of property in this rapidly growing city is just $84, meaning that the average property costs just $159,900.
Properties tend to sell quite fast in this city, as the population is rapidly growing. Founded in 1840 with just 2,000 residents the city has grown to a population of 258,00 as of the 2014 census.
Boise City, Idaho
Ranked as the fifth hottest property market in the United States, property in this city spends an average of just 37 days on the market, before being sold at an average price of just $300,000.
San Francisco-Oakland-Hayward, CA
California finally rears its head with the sixth hottest property market. The San Francisco area is one of the most famous in America with many attractions such as the Golden Gate Bridge, cable cars, Alcatraz former prison, and the list goes on.
However, these attractions do come at a price, with the average property listing price at $1.325 million.
This doesn’t stop properties moving fast in the city though, with the average time on the market at just 36 days.
Location is so important when it comes to property investment, that somebody once named it thrice! So it is important to keep a check on where the hottest property markets may be, as this can always change.
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