You Can Still Find Homes for Less than $100k

homeslessthan100

Home shoppers looking for a bargain can still score deals in some areas of the country. The Rust Belt and Midwest regions tend to have the highest percentage of homes listed for less than $100,000—properties with three bedrooms, two bathrooms, and a yard. “Bargains definitely exist,” says realtor.com® Chief Economist Danielle Hale. “But buyers should go in with their eyes open. In some of those areas, $100,000 can buy a pretty decent home that maybe needs a little bit of updating. In others, it might be a home that needs an awful lot of work and might be in not yet up-and-coming neighborhoods.”

Realtor.com® pinpointed the metro areas with the largest number of single-family homes listed for less than $100,000 on its site as of March 1 (based on volume, not percentages). The following metros topped the list:

1. Pittsburgh

Median home list price: $179,950
Number of homes listed for $100,000 or less: 2,656

2. Detroit

Median home list price: $245,050
Number of homes listed for $100,000 or less: 2,478

3. Chicago

Median home list price: $299,550
Number of homes listed for $100,000 or less: 2,397

4. St. Louis

Median home list price: $207,550
Number of homes listed for $100,000 or less: 2,227

5. Cleveland

Median home list price: $175,050
Number of homes listed for $100,000 or less: 1,779

6. Birmingham, Ala.

Median home list price: $219,950
Number of homes listed for $100,000 or less: 1,169

7. New York

Median home list price: $523,740
Number of homes listed for $100,000 or less: 1,155
Source: “Bargain Hunter’s Bonanza: Metros With the Most Homes for Sale Under $100K—Act Now!” realtor.com® (June 4, 2018)

To view the original article, click here: http://realtormag.realtor.org/daily-news/2018/06/04/where-find-homes-for-less-100k

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