See the Communities That Just Made Zillow’s Hottest Real Estate Markets of 2024

As the New Year kicks off, so does the newest list of Zillow’s hottest real estate markets for 2024. Factors related to the economy and lifestyle amenities are driving a surge in homebuyer interest in specific areas, propelling an upward trend in real estate transactions. The majority of this year’s anticipated hot markets are concentrated in the Midwest, Great Lakes region, and the South.

Let’s take a look at the ten communities expected to dominate the real estate landscape.

With a surge in job opportunities, a rise in housing construction projects, and affordably priced housing, it’s evident why Buffalo tops the list of 2024’s hottest real estate markets. Based on recent data from Redfin (November 2023), the majority of homes in Buffalo sold in 15 days or less.

Cincinnati’s housing market is projected to thrive, due to anticipated upticks in home valuations, a surge in upcoming residential units, and homes selling in just 11 days on average. Notably, Redfin reveals that nearly 30% of residences in the city sold above the asking rate. And the expanding availability of luxury homes for prospective buyers further complements this trend. 

Columbus, crowned as one of the best cities in the Midwest to call home, boasts a reasonably competitive real estate scene, with more than 37% of homes selling above their asking rate, according to Redfin. Scenic areas, state-of-the-art cultural attractions, and a booming job market are other factors that have secured this city’s position on the hot markets list.

From relatively affordable living costs to a lively arts, food, and entertainment scene, it’s easy to see why Indianapolis makes the list of 2024’s hot markets. According to Redfin, most homes in the area attract multiple offers and enter pending status within approximately 20 days. 

Despite being Rhode Island’s largest city, Providence is also fairly affordable, adding to its appeal for buyers. The city has an extremely competitive real estate market, with over 65% of homes being purchased above their initial asking prices and typically entering pending status within just 16 days, per Redfin.

Thanks to its charming homes, delicious wineries, and employment growth across multiple industries, Atlanta’s emergence as a hot market in 2024 comes as no surprise. Redfin reported that most homes sold in under six weeks, with 20.5% commanding purchases above the original listing price.

Living in Charlotte means having access to numerous recreational activities and multiple employment opportunities, with many industries offering salaries above the national average. With 28.5% of homes sold above the asking rate, per Redfin, its status as a hot market is to be expected. 

Cleveland, a hub of cultural attractions, stands as an immensely appealing community for those seeking a place to call home. This city’s relatively low cost of living is a significant factor in securing it a spot on 2024’s hot market list. 

Orlando’s burgeoning sports scene and rapidly growing economy present promising prospects for homebuyers looking to establish roots. 

As an epicenter for culture, cuisine, and the arts, Tampa offers abundant opportunities for prospective real estate buyers. Redfin reported that homes in this community garner multiple offers and typically sell within approximately 27 days.