New England city has once again proven its staying power. Hartford, Connecticut, has claimed the title of America’s hottest housing market, according to Realtor.com’s February report. This isn’t the first time Hartford has taken the crown: it’s the fourth time since 2017. But its stable appeal to homebuyers underlines a trend that’s hard to ignore.
What makes a market “hot”? It’s all about demand. Hartford’s homes are flying off the shelves: properties are racking up more than four times the listing views compared with the average U.S. home. Buyers aren’t just browsing, either: they’re snapping up homes in an average of just 38 days, nearly twice as fast as the national median.
With a median list price of $434,000, up 6.6% from last year, Hartford is proving that affordability, strong schools and a healthy job market can make a city irresistible. But Hartford isn’t the only standout.
The Northeast and Midwest are dominating the real estate scene, too, with five larger metros showing meaningful advances in their market “hotness.” Philadelphia, grouped with parts of New Jersey and Delaware, registered the biggest leap, jumping 77 spots year on year.
New York City, clustered with other sections of New Jersey, wasn’t far behind, climbing 48 spots. And Kansas City, Missouri, heated up by 45 spots.
New Jersey: Where Bidding Wars Are the New Normal
If you’re looking for a real estate market that’s on fire, New Jersey is the place to be. Homes in many counties are selling in days—sometimes for hundreds of thousands over the asking price.
Joseph Aziz, a real estate agent with Joseph Aziz Real Estate, has seen it firsthand. Ever since COVID started, the prices have been going ballistic, he says. There are a few periods where prices stay the same, but then they continue to climb, adds Joseph.
In other words, the market is very, very competitive. Less and less homes are being built, and people are choosing to renovate instead of build. New construction is becoming harder and harder to secure.
The Northeast and Midwest Are Stealing the Show, Too
February marked the 17th straight month where only Northeast and Midwest markets made it onto Realtor.com’s top 20 hottest markets list. The West hasn’t had a market in the top 20 since February 2023, and the South’s last strong showing was back in December 2021.
Danielle Hale, Realtor.com’s chief economist, points out that this regional dominance wasn’t always the case. Before and during the early stages of the pandemic, the hottest markets list was fairly well distributed, she says. But the South’s generally abundant home supply has kept its hotness relatively tempered.
Buyers are flocking to the Midwest for affordability and to the Northeast for its desirable neighborhoods and amenities. Even so, the hottest markets are seeing softer price growth with annual increases averaging just 0.9% in February—the lowest in the data’s history.
Affordability Meets Opportunity
Though the competition is fierce, there’s still hope for buyers. More than half of the hottest markets are priced below the national median, meaning tenacious buyers can still find a good deal. Toledo, Ohio, led the pack with a 24.4% price growth, followed by Reading, Pennsylvania (+10.6%) and Providence, Rhode Island (+7%).
Homes in those in-demand areas are selling fast, spending between 33 and 51 days on the market compared with the national average of 66 days. More competitive market conditions are good for sellers, but make buying more difficult for hopeful homeowners, Hale notes. On the bright side, there are still opportunities for buyers willing to put in the effort.
What’s Next for Hartford and Beyond?
Hartford’s reign as America’s hottest market shows no signs of cooling off. Its blend of affordability, strong schools and a booming job market continues to draw buyers in droves. Meanwhile, New Jersey’s overheated market is a testament to the enduring appeal of good locations with top-notch amenities.
As the Northeast and Midwest continue to dominate, the real estate market is as dynamic as ever. Whether you’re a seller looking to cash in or a buyer hoping to snag a dream home, the key is to stay informed, be patient and—when the right opportunity comes along—act fast.
After all, in markets this hot, hesitation can mean missing out.
