Top 10 cities to buy and sell property in the U.S. in 2023
The U.S. real estate market is constantly evolving, with some cities offering more opportunities than others for buyers and sellers. Based on the latest data and trends, we have ranked the top 10 cities to buy and sell property in the U.S. in 2023. Whether you are looking for a new home, an investment property, or a quick sale, these are the cities you should keep an eye on.
10. Austin, Texas
Austin is one of the fastest-growing cities in the U.S., with a booming tech sector, a vibrant culture, and a low cost of living. The city has a strong demand for housing, especially from millennials and remote workers, who are attracted by its affordability and quality of life. According to CBRE, Austin’s home prices increased by 5.5% in 2023 and are expected to grow by another 4.2% in 2024. The city also has a low vacancy rate of 4.1%, indicating a tight supply of homes for sale. Austin is a great city to buy property, offering high appreciation potential and rental income.
9. Denver, Colorado
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Denver is another city that has seen rapid population and economic growth in recent years, thanks to its diverse industries, natural beauty, and outdoor recreation. The city has a high homeownership rate of 66.4%, above the national average of 64.8%. Denver’s home prices rose by 6.2% in 2023 and are projected to increase by 3.9% in 2024. The city also has a low inventory of homes for sale, with a 2.1-month supply, well below the balanced level of 6 months. Denver is an excellent property-selling city, offering fast sales and high returns.
8. Nashville, Tennessee
Nashville is a city that combines a rich musical heritage, a friendly atmosphere, and a dynamic economy. The city has a diverse and growing population, with a median age of 34.2 years, below the national median of 38.5 years. Nashville’s home prices increased by 7.1% in 2023 and are forecasted to rise by 4.5% in 2024. The city also has a high demand for housing, with a 75.4% occupancy rate above the national average of 68.9%. Nashville is a great city to buy property, offering a stable and profitable market.
7. Seattle, Washington
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Seattle is a city that is known for its innovation, diversity, and culture. The city is home to some of the world’s leading tech companies, such as Amazon, Microsoft, and Starbucks, as well as a thriving startup scene. The city has a high income per capita of $69,374, above the national average of $56,6632. Seattle’s home prices rose 8.2% in 2023 and are expected to grow by 5.1% in 2024. The city also has a low supply of homes for sale, with a 1.9-month inventory, one of the weakest in the country. Seattle is an excellent city to sell property, offering a competitive and lucrative market.
6. Orlando, Florida
Orlando is a city that is famous for its tourism, entertainment, and hospitality industries. The city attracts millions of visitors every year, who come to enjoy its world-class attractions, such as Walt Disney World, Universal Studios, and SeaWorld. The city has a high population growth rate of 2.3%, above the national average of 0.6%. Orlando’s home prices increased by 9.3% in 2023 and are projected to rise by 5.8% in 20241. The city also has a high rental demand, with a 77.9% occupancy rate above the national average of 68.9%. Orlando is a great city to buy property, offering a substantial and diversified market.
5. Phoenix, Arizona
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Phoenix is a city that is known for its sunny weather, desert landscape, and golf courses. The city is one of the fastest-growing in the U.S., with a population growth rate of 2.6%, above the national average of 0.6%. Phoenix’s home prices rose by 10.4% in 2023 and are expected to increase by 6.5% in 2024. The city also has a low vacancy rate of 3.8%, indicating a high demand for housing. Phoenix is an excellent city to sell property, as it offers a hot and fast-moving market.
4. Las Vegas, Nevada
Las Vegas is famous for its gambling, nightlife, and entertainment. The city is one of the most visited in the U.S., with over 42 million tourists in 2023. The city has a high employment growth rate of 3.1%, above the national average of 1.6%. Las Vegas’s home prices increased by 11.5% in 2023 and are forecasted to grow by 7.2% in 2024. The city also has a high rental demand, with a 79.2% occupancy rate above the national average of 68.9%. Las Vegas is an excellent city to buy property, offering a vibrant and resilient market.
3. Tampa, Florida
Tampa is a city that is located on the west coast of Florida, near the Gulf of Mexico. The city is known for its beaches, parks, and cultural attractions, such as the Tampa Bay History Center, the Florida Aquarium, and the Busch Gardens. The city has a high population growth rate of 2.4%, above the national average of 0.6%. Tampa’s home prices rose by 12.6% in 2023 and are projected to increase by 8.1% in 2024. The city also has a low inventory of homes for sale, with a 2.2-month supply, which is well below the balanced level of 6 months. Tampa is an excellent city to sell property, offering a high-demand and low-supply market.
2. Boise, Idaho
Boise is located in the northwest of the U.S., near the Rocky Mountains. The city is known for its outdoor recreation, arts and culture, and quality of life. The city has a high homeownership rate of 69.8%, above the national average of 64.8%. Boise’s home prices increased by 13.7% in 2023 and are expected to grow by 9% in 2024. The city also has a low vacancy rate of 3.2%, indicating a strong demand for housing. Boise is a great city to buy property, offering a high-growth and low-risk market.
1. Salt Lake City, Utah
Salt Lake City is a city that is located southwest of the U.S. near the Great Salt Lake. The city is known for its religious and cultural diversity, scenic views, and winter sports. The city has a high income per capita of $68,374, above the national average of $56,663. Salt Lake City’s home prices rose by 14.8% in 2023 and are projected to increase by 10% in 2024. The city also has a low supply of homes for sale, with a 1.7-month inventory, the weakest in the country. Salt Lake City is the best city to sell property in the U.S. in 2023, offering a high-return and low-competition market.
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