Market Conditons | Three Best Cities to Find Cheap Homes

Sunset Falls Waynesville NC Mountain Home

Published on November 30, 2012

For the past three years, patient home buyers have had the advantage of choosing from deeply discounted foreclosures, short sales and unsold builder inventory. At the same time, investors paying cash have competed for the same homes, rehabbing and renting them out with the goal of capital gains from future appreciation. We wondered, are the majority of cheaply priced homes all bought up? By monitoring price trends in 28 cities in the Southeast, it’s easier for us to answer the question. Data from Zillow through the 3rd quarter of 2012, helps us with our conclusion:

3 BEST CITIES TO FIND CHEAP HOMES:

Waynesville NC real estate prices are down 11%. The average Waynesville home price is $107,500. If you’re searching for mountain home in Western North Carolina, this is the first best mountain town near Asheville to take a look.

Savannah GA real estate prices are down 8.7%. The average Savannah home price is $88,800. Two best coastal South Carolina cities to the north, in Beaufort and Bluffton home prices now consistently trend up. Savannah is where you can still find a cheap home if you want to live on the in the Low Country.

New Bern NC real estate prices are down 7.9%. The average New Bern home price is $108,000. New Bern is located about two hours north of Wilmington and 45 minutes west of the Outer Banks. Boaters will find here the largest protected sound on the east coast.

3 BEST CITIES WHERE YOU'LL PAY MORE FOR A HOME TODAY THAN IN 2011:

Dahlonega GA real estate prices are up 23.2%. The average Dahlonega home price is $147,100. This best small town in northern Georgia is also known as a Best Value Retirement City. Retirees have been scooping up the deals because in just about every category, the cost of living is low in Dahlonega.

Vero Beach FL real estate prices are up 8.9%. The average Vero Beach home price is $112,100. Vero Beach has a combination of both the wealthiest neighborhoods on the barrier island and affordable communities on the mainland. Even though home prices are up, budget conscious retirees can still find new Vero Beach homes under $150k.

Beaufort SC, Palm Coast FL and Loudon TN are all neck and neck when comparing real estate prices. These best cities to live are known for beautiful beaches or an amazing lake at the base of the Great Smoky Mountains. Home prices average $124,200 for Palm Coast real estate, $171,700 for Beaufort County real estate and $200,600 for Loudon real estate in Eastern Tennessee. Coincidentally, these have been the three most frequent cities where our clients have purchased low priced real estate in 2012.

Now that the election is over, the end of the Mayan calendar on December 21, 2012 and the Fiscal Cliff still casts fear into the marketplace. And if paying $5 for a gallon of milk isn’t a clear indication of our collapsing dollar, who knows what it will take for us all to recognize we are experiencing serious inflation, when you consider all the real factors. But isn’t it true through all this, there is comfort and safety of owning our own home, ideally debt free?

If you’ve made your decision to move and are just waiting for the right timing, use these indicators above to help you. We have more data to share, if you’re interested. No matter which city or state interests you in the south, we can help guide you and help you compare where to retire in the Southeast. Reach out and say ‘hello’ at info@communityfinder.com or call us toll free at 866.384.1799. It's our pleasure to help!