Hottest Markets in US
The tight just keep on getting tighter. In the last, briefest month of winter (yay!) supplies were scarcer than ever in the residential real estate market, according to a preliminary analysis of our data here at realtor.com®. Factoring in strong buyer demand, sales remained strong in February after a January in which the pace of existing-home sales was at a 10-year high.
And early birds were scrambling to get the worms … er, homes, which are moving off the market 5% more quickly this February than a year ago, and five days faster than in January. That’s even as prices remain at record highs.
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“Spring has arrived early this year, at least in terms of the rapid decline in the age of inventory,” Chief Economist Jonathan Smoke of realtor.com said in a statement. “Strong off-season demand powered new seasonal highs in prices and left us with a new low in available homes for sale. Potential sellers take note: This year is shaping up to favor you even more than last year.”
- Sold Out: These 10 U.S. Cities Have the Biggest Housing Shortages
- The 5 Hottest Real Estate Markets to Watch in 2017
- The 20 Hottest Markets for U.S. Real Estate in January 2017
While nearly 425,000 new listings will have entered the market in February, there still aren’t enough to meet buyer demand. In fact, the sharp double-digit decline in for-sale housing inventory observed since October is continuing.
All this may sound like music to sellers’ ears, but not so much for buyers. However, buyers who are able to land the home of their dreams can reassure themselves that their investment is likely to be a solid one—especially in our hottest markets, where homes are selling fastest and there’s the most demand.
This month’s ranking has California dominating the list as usual, with 12 markets, but five other states made a showing: Texas, Colorado, Ohio, Michigan, and Massachusetts.
Leading the list is Vallejo, where the median days on market fell by almost half, powering it back into the top spot for the first time since August.
New to the list this month are Boulder, CO; Boston; and Midland, TX, which jumped eight, 14, and 15 spots respectively since January. Note that these metropolitan markets may also comprise neighboring cities or towns. For example, the Boston market also includes Cambridge and Newton, MA.
Lee Lake Property At Timber Shores
Country Living Meets Lake Life on Lee Lake! Located on one of the closest lakes in Minnesota to the Fargo/Moorhead area, Lee Lake is becoming a desired destination for its fishing, water recreation and beautiful scenery. Come and experience all the area has to offer and enjoy this amazing setting on Lee Lake.
Located just a mile off of Highway 10 this 4.9 acre lot features mature trees and over 200 feet of hard bottom lakeshore. The lot is about as private as any lake lot could be as rolling hills surround the property yet provide a gentle slope down to the water’s edge. Much of the land has been kept in its natural state yet the mowed areas of the yard feature an in-ground sprinkler system and extensive landscaping. One example of how the property incorporates the natural beauty is the creative way the owners built their walk out basement patio using boulders and incorporating their children's sandbox to give the area a unique beach feeling.
Approaching this 2011 custom built home you are welcomed by the multi-colored earth toned steel siding with rock accents. The 3 stall attached garage features 46 feet x 32 feet of great storage and work space. This area has its own furnace and air conditioning unit for easy year round use of the facility. An extra overhead 6 foot wide access door allows for easy storage of yard equipment and personal belongings. Finishing off the garage are added work benches and a built in dog kennel.
Entering the home through the main entrance brings you to the living room with vaulted ceilings and hard wood floors of hand scraped maple. Large south facing windows provide excellent light to the area of the home and good views toward the lake. This room also includes a gas fireplace and office area with built-in desk and cabinets. Set just off of the living room is the master bedroom with trayed ceilings and large walk-in closet. Moving toward the connecting bathroom with tiled floors and double sinks one finds a large tiled shower approximately 10 feet long by 6 feet wide with numerous shower heads for spa-like bathing experience.
The other end of the living room gives way to the kitchen and dining area which also feature the maple hardwood flooring. The granite countertops in the kitchen combine well with the multi-colored custom maple cabinets with excellent amounts of storage space plus an additional pantry. Leading off the dining area is the maintenance free deck which is great for entertaining and overlooks the lakeside yard. This area as well as the kitchen, living room, master bedroom and basement family room all are wired with speakers for extra entertaining enjoyment.
Finishing off the main level is a 1/4 bathroom and mud room just off the garage entrance. This area is tiled and hosts the washer and dryer, laundry sink, storage cabinets as well as wood lockers for coats or children's belongings. From the mud room, steps lead up to the large 700+ square foot bonus room above the garage. This are provides for a possible 5th bedroom, workout room or office.
Moving to the basement brings one to the large family room with big screen television which is included in the sale. Just off this room is a pool table area, one full bathroom, utility room and 3 additional bedrooms. The utility room has two 200 amp electrical panels for all the power one could ever need. This room also has many built in shelves for additional storage space. A second utility room hosts the furnace and on-demand Rinnai gas water heater for instant and endless hot water. For added efficiency the entire house has been spray foamed to help keep utility costs down.
Finishing off the property highlights are the beautiful lakeshore set in a deep water bay of the lake. The lakeshore has been rip-rapped and has a good swimming area as well as good fishing. Just off the end of the dock the water is 7 feet deep and extends to 20 feet in the middle of the bay. Lee Lake has produced good sized walleyes and provides for great crappie fishing. The DNR public access to the lake is just a few hundred yards away but is nowhere in sight from this secluded setting. Whether fishing, boating, water sports or just enjoying country living is what you desire, Lee Lake and this property are sure to please. Come and see for yourself and experience life in Timber Shores!