What Are the Top 10 Metro Cities with the Biggest Home Seller Dollar Gains in 2022
The U.S. housing market grew 16.9% from 2020 to 2021, and some of that growth carried over into 2022. Metro cities often command high price points due to the available amenities, and some cities fared quite well in 2022. Some real estate investors target metro cities with the highest year-over-year growth. Investors can also target counties surrounding the metro cities for more affordable prices.
While metro cities have remained popular for decades, remote real estate has gained momentum since the pandemic. Some investors feel confident buying sight unseen as long as the data looks promising. Suppose you have the flexibility to become a remote investor or travel to several states. In that case, you should start your search with the metro cities experiencing the most significant home seller dollar gains in 2022. According to the National Association of Realtors, single-family homes in these ten metro cities outperformed the competition.
#10: Ogden – Clearfield, UT
Year-over-year home price growth: 25.5%
Median sale price: $518,700
The Ogden-Clearfield metro city offers a family-friendly neighborhood roughly 40 miles from Salt Lake City. The Clearfield Aquatic Center is a popular destination for locals throughout the year. Schneiter’s Bluff is a popular golf course in the region, and the Urban Air Trampoline and Adventure Park provide plenty of activities for children.
#9: Ocala, FL
Year-over-year home price growth: 26.7%
Median sale price: $285,000
Ocala is the first of several Florida locations you’ll find on this list. Florida home prices have surged since the pandemic, with Ocala being one of the standouts. The metro city has a biking trail, horse farms, and a vibrant downtown square. Ocala is in the center of Florida and has a nearby national forest.
#8: Punta Gorda, FL
Year-over-year home price growth: 27.4%
Median sale price: $400,000
Punta Gorda is a smaller Floridian metropolis with a population of 20,000. Located in western Florida, it is a little more than 30 minutes away from Fort Myers. The Fisherman’s Village and Peace River Wildlife Center are popular attractions in the area.
#7: Cape Coral – Fort Myers, FL
Year-over-year home price growth: 27.8%
Median sale price: $460,100
The Cape Coral – Fort Myers metro city is located in western Florida. The Fort Myers Skatium has fitness rooms, a skating rink, and other amenities. Kayakers will have a fun time in the area with many guided kayaking dolphin tours.
#6: Tampa – St Petersburg – Clearwater, FL
Year-over-year home price growth: 28.0%
Median sale price: $411,000
These well-known parts of Florida, Tampa, St. Petersburg, and Clearwater accommodate over 3 million residents and are located in the western part of the state. Clearwater Beach is one of the best in the United States, making it number six on TripAdvisor’s list of Top Trending Destinations in the U.S. for 2022. The metro city also has the sixth highest home seller dollar gains throughout U.S. metro cities in 2022.
#5: Myrtle Beach – Conway – North Myrtle Beach, SC – N.C.
Year-over-year home price growth: 28.5%
Median sale price: $367,400
Myrtle Beach snaps the Florida streak, but it still reflects many people’s desires to move to warmer locations. Myrtle Beach is on the east coast, and while they have a winter season, it’s not as bleak as a winter further up in the country. The popular area attracts many tourists, making it an excellent spot for rental properties. You could also set up an Airbnb for your home during the busy seasons to help cover the mortgage without fully committing to a long-term tenant.
#4: North Port – Sarasota – Bradenton, FL
Year-over-year home price growth: 28.8%
Median sale price: $515,000
#3: Naples – Immokalee – Marco Island, FL
Year-over-year home price growth: 28.8%
Median sale price: $850,000
The Naples area is one of the most luxurious parts of the United States with median sales prices of $850,000. You will find many expensive sports cars on the streets of this part of western Florida. Naples is geographically near the bottom of the state with the Picayune Strand State Forest nearby. The metro region has many golf courses and clubs available.
#2: Lakeland – Winter Haven, FL
Year-over-year home price growth: 31.4%
Median sale price: $343,000
Lakeland and Winter Haven are in the center of Florida and are less than an hour away from Orlando. The region is one of the more affordable parts of Florida on this list, coming at a median sale price of $343,000 for a single-family home.
#1: Fayetteville – Springdale – Rogers AR – MO
Year-over-year home price growth: 31.9%
Median sale price: $350,000
A metropolis region covering parts of Arkansas and Missouri tops the list. The Fayetteville – Springdale – Rogers area has experienced a 31.3% year-over-year growth in housing prices. Located near Oklahoma, the metro city made U.S. News & World Report‘s list as one of the top five best places to live in the United States. Walmart was founded in Rogers, Arkansas, in 1962, and a commemorative museum detailing Walmart’s history is in the city.
Investors can select from many metro cities. If you are getting started and don’t feel comfortable with long distance investments, you should start by looking at data in your neighborhood. Investors who can manage multiple properties in different states can get maximum returns by investing in areas with strong growth.
These ten metro cities have outperformed the competition with high year-over-year growth numbers. They also represent the growing trend of people moving to southern areas with warm weather throughout the year. Analyzing current real estate market conditions while predicting future trends can help you achieve higher returns and capitalize on property appreciation.