While it’s true that quality agents who put in the extra work can be successful anywhere, there are certain areas in the U.S. that are positioned as ideal locations for agents in 2017 and the years to come.
These areas combine a high quality of living with positive real estate market trends. Some common relevant stats include:
- Rising home prices. Steady increases in prices mean interest from both buyers and sellers.
- Low unemployment rates that provide agents with bigger pools of qualified buyers.
- A mix of housing options, from more affordable homes to high-end luxury.
Here are four cities that are ideal locales for agents:
Irvine, California
Southern California remains an in-demand destination for people relocating from the east and Midwest. Irvine offers residents a large number of employment opportunities, and features several office parks with nearby shopping and dining destinations. The unemployment rate in Irvine is consistently low, well below the averages for Southern California.
According to data from Zillow, the median home value of properties in Irvine is $787,700, which provides agents with significant potential for hefty commissions.
Nearby attractions:
- Disneyland, Angel’s baseball team, and the Mighty Ducks in Anaheim.
- Easy access to Los Angeles’ beaches and cultural activities.
- Less than 90 miles to San Diego.
Austin, Texas
Frequently ranked as a “Best Places to Live” by various publications, Austin remains an attractive destination for workers and families. Among Texas metropolitan areas, Austin has the homes with the most acreage, with nearly 7 percent of the homes boasting five or more acres. The ability to purchase homes with land provides real estate agents with options to address the needs of clients who desire privacy or additional room for a pool or RV.
The area offers a wide range of housing, from comfortable homes in the $300,000 to $400,000 range to a massive 2,000 acre ranch/estate going for $68.3 million. Demand for housing has been high for many years in Austin, so agents can rely on short time-on-market for the average property.
Key stats for Austin:
- The median price grew to $279,990, up 9.8 percent from last year.
- Unemployment rate that hovers around 3.1%, well below Texas averages.
Seattle, Washington
Development in downtown Seattle reached new highs in 2016, with record-setting numbers of commercial and residential buildings constructed throughout the year. According to real estate site Redfin, Seattle is home to 10 of the top 30 neighborhoods for housing.
Seattle’s pricing boom is squeezing some middle and lower-income families, but the progressive city is actively taking steps to increase the supply of housing for these demographics. Similar to other cities on our list, Seattle provides a wide range of neighborhoods and housing, from mansions on Lake Washington to downtown condos. This provides opportunities for agents to focus on certain niches or neighborhoods, and to change their tactics to meet shifting market conditions.
Area highlights include:
- Easy access to nature including the spectacular Olympic National Park.
- The headquarters for several massive employers including Boeing, Microsoft, and Amazon.
Denver, Colorado
The pristine scenery and abundant jobs in the Denver area continue to attract transplants, and it remains a very attractive area for real estate. The Denver Metro Association of Realtors stated the median price gain for 2016 was 11.4%, which was less than the meteoric gain of 14.2% in 2015. The gains for 2017 are predicted to be less than only Dallas.
The need for housing in Denver remains high, as the city experiences net positive migration and the supply of new homes has not caught up to the demand. The city’s low unemployment rate and relative affordability make it a desirable target for people from within Colorado and transplants from around the country.
Area highlights:
- Recreation activities in the surrounding mountains.
- Well-regarded suburbs such as Aurora that are consistently ranked as great places to live.
- A short flight to Las Vegas, Los Angeles, or San Francisco.
Real estate agents that want to succeed in robust markets should consider areas with rising home prices combined, low unemployment, and desirable local activities. These four cities are great options for agents looking for a great place to live and work.
Adrian Rubin is the Founder and CEO of Adrian Rubin LLC, a Philadelphia-based real estate development company with properties across the U.S.
