Highlights
- The Rochester metro area ranked as the country鈥檚 hottest housing market in January.
- Prices increased slightly (+1.4%) nationwide in January but the month鈥檚 hottest markets saw more substantial price growth (+6.6%) due to high demand.
- The Northeast and the Midwest were the only regions on this month鈥檚 list with 12 and 9 markets, respectively.
- The Las Vegas metro area saw the largest increase in its hotness ranking among large US metros compared to last year, climbing 130 spots to rank as the 150th hottest US market in January.
The Rochester, NY metro area ranked as January鈥檚 hottest housing market for the second month in a row. Rochester has grown in popularity since 2021, and even holds a spot on this year鈥檚 Best Markets for First-Time Homebuyers.听
Realtor.com鈥檚 Market Hotness rankings take into account two aspects of the housing market: 1) market demand, as measured by unique views per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.
What鈥檚 New This Month
All but six markets on the January Hottest Housing Markets list were also on November’s list. Of these six fresh markets, Springfield, Ill., New Haven-Milford, Conn. and Toledo, Ohio had all been absent from the list the longest prior to this month. Springfield and Toledo were the lowest priced markets on this month’s list, with median listing prices at $169,000 and $190,000, respectively, in January. The highest priced market on this months list was the #12 ranked Boston metro, which continues to see prices climb due to high demand and slim inventory.
January 2024 – Top 20 Hottest Housing Markets
| Hottest Metros | Hotness Rank | Hotness Rank YoY | Viewers per Property vs US | Median Days On Market | Days on Market YoY | Median Listing Price If Active Within Period |
| Rochester, N.Y. | 1 | -1 | 3.0 | 33 | -10 | $247,000 |
| Manchester-Nashua, N.H. | 1 | 0 | 3.5 | 44 | -1 | $565,000 |
| Springfield, Mass. | 3 | -1 | 2.7 | 47 | -8 | $350,000 |
| Oshkosh-Neenah, Wis. | 4 | -5 | 2.8 | 48 | -13 | $307,000 |
| Hartford-West Hartford-East Hartford, Conn. | 5 | 2 | 3.3 | 52 | -4 | $394,000 |
| Dayton, Ohio | 6 | 0 | 2.0 | 51 | -3 | $211,000 |
| Norwich-New London, Conn. | 7 | -58 | 2.8 | 55 | -19 | $455,000 |
| Akron, Ohio | 8 | -2 | 2.1 | 53 | -3 | $211,000 |
| Lancaster, Pa. | 8 | 0 | 1.9 | 47 | -7 | $430,000 |
| Trenton, N.J. | 10 | -97 | 1.9 | 51 | -23 | $392,000 |
| Columbus, Ohio | 11 | 6 | 2.3 | 55 | 0 | $370,000 |
| Boston-Cambridge-Newton, Mass.-N.H. | 12 | -5 | 2.0 | 53 | -8 | $810,000 |
| Springfield, Ill. | 13 | -17 | 1.9 | 52 | -4 | $169,000 |
| Providence-Warwick, R.I.-Mass. | 13 | 6 | 2.2 | 54 | 1 | $505,000 |
| Rockford, Ill. | 15 | -5 | 2.2 | 56 | -6 | $207,000 |
| Concord, N.H. | 16 | -9 | 2.8 | 58 | -8 | $556,000 |
| Allentown-Bethlehem-Easton, Pa.-N.J. | 17 | -5 | 1.8 | 52 | -8 | $370,000 |
| New Haven-Milford, Conn. | 18 | 0 | 2.6 | 58 | -5 | $400,000 |
| Milwaukee-Waukesha-West Allis, Wis. | 19 | 6 | 1.6 | 46 | -9 | $342,000 |
| Toledo, Ohio | 20 | -15 | 1.7 | 53 | -10 | $190,000 |
| Racine, Wis. | 20 | 8 | 1.9 | 56 | 2 | $336,000 |
Not in the top 20? See rankings for the top 300 markets
Most Improved Large Markets: Las Vegas Stays Hot聽
Larger urban markets heated up this month, with the largest 40 markets across the country getting 12 ranks hotter, on average, since January 2023. Large metros have heated up over the last few months as homebuyers aim to be near their business hubs. These areas pulled in about 10% more views per listing than was typical in the U.S. in January, and homes spent 9 fewer days on the market than the U.S. median.
This month, the five most improved large metros were mostly in the West, with only Atlanta, GA outside of the region. The most improved housing markets were Las Vegas-Henderson-Paradise, Nev.(+130 spots), Phoenix-Mesa-Scottsdale, Ariz.(+99 spots), Los Angeles-Long Beach-Anaheim, Calif. (+85 spots), Riverside-San Bernardino-Ontario, Calif (+60 spots), and Atlanta-Sandy Springs-Roswell, Ga. (+56 spots).
Markets Seeing the Largest Jump in Rankings (January 2024)
| Metro | Hotness Rank | Hotness Rank YoY | Viewers per Property vs US | Median Days On Market | Days on Market YoY | Median Days On Market Vs Us |
| Las Vegas-Henderson-Paradise, Nev. | 150 | -130 | 0.80 | 59 | -19 | -10 |
| Phoenix-Mesa-Scottsdale, Ariz. | 154 | -99 | 0.81 | 60 | -14 | -9 |
| Los Angeles-Long Beach-Anaheim, Calif. | 92 | -85 | 1.00 | 57 | -11 | -12 |
| Riverside-San Bernardino-Ontario, Calif. | 193 | -60 | 0.78 | 64 | -10 | -5 |
| Atlanta-Sandy Springs-Roswell, Ga. | 131 | -56 | 0.80 | 56 | -10 | -13 |
Note: With the release of its February 2023 Housing Report and Data, Realtor.com庐 incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. As a result of these changes, this release is not directly comparable with previous data releases and reports. However, future data releases, including historical data, will consistently apply the new methodology.听