10 Surprising Places Where the Pandemic Housing Boom Is Concentrated

“Hot” housing markets are typically concentrated in metropolitan areas, but the coronavirus pandemic has changed that trend. Now, real estate markets are booming in vacation towns and suburbs. According to Redfin, this shift has been caused by the expansion of remote-work policies — people no longer need to live in a major city to be afforded plenty of job opportunities. Now, buyers are prioritizing places where homes are affordable, as well as places that meet their personal preferences, like proximity to nature and recreation. In addition, many buyers have been purchasing vacation homes to have an easy escape from the city — mortgage applications for second homes increased 84% year over year in January, Redfin reported.

Here’s a look at 10 surprising places where the housing boom has been concentrated over the past year.

Last updated: May 17, 2021

• Parent metro area: Poughkeepsie, New York
• Median sale price: $344,950
• Median sale price year over year change: 29%
• Share of homes sold above list price: 40.7%

• Parent metro area: New Brunswick, New Jersey
• Median sale price: $339,950
• Median sale price year over year change: 31%
• Share of homes sold above list price: 36.3%

• Parent metro area: Frederick, Maryland
• Median sale price: $375,000
• Median sale price year over year change: 19%
• Share of homes sold above list price: 39.5%

• Parent metro area: Camden, New Jersey
• Median sale price: $264,000
• Median sale price year over year change: 23%
• Share of homes sold above list price: 37.6%

• Parent metro area: Washington, D.C.
• Median sale price: $350,000
• Median sale price year over year change: 21%
• Share of homes sold above list price: 44.4%

• Parent metro area: Barnstable Town, Massachusetts
• Median sale price: $514,875
• Median sale price year over year change: 31%
• Share of homes sold above list price: 36.7%

• Parent metro area: Elgin, Illinois
• Median sale price: $274,500
• Median sale price year over year change: 22%
• Share of homes sold above list price: 31.8%

• Parent metro area: Bend, Oregon
• Median sale price: $509,450
• Median sale price year over year change: 24%
• Share of homes sold above list price: 43%

• Parent metro area: Santa Cruz, California
• Median sale price: $1 million
• Median sale price year over year change: 17%
• Share of homes sold above list price: 49.7%

• Parent metro area: Sacramento, California
• Median sale price: $592,500
• Median sale price year over year change: 36%
• Share of homes sold above list price: 37.4%

More From GOBankingRates

• Housing Breaks That Are Available to Military Members and Their Families
• Everything You Need To Know About Taxes This Year
• 4 Tips for Saving Money While in the Military
• Big Personal Goals That You Should Put Your Money Toward

Methodology: Sourced from the Redfin analysis of the 10 U.S. housing markets that have heated up most over the past year. Ranking is based on year-over-year change in home prices, home sales, the share of homes that sold above their list price, the speed of home sales and number of Redfin.com searches.