March Madness is officially in full-swing, and its accompanying brackets and bets are occupying many a fan’s mind. However, it is important to note that March does not simply revolve around basketball. Instead, it is also known as the prime month to hunt for and purchase new real estate, as many prospective homebuyers often wait for temperatures to rise before making a large move.
While we may not know who is moving on to the final rounds of the NCAA championship just yet, many of the cities that house March Madness schools are experiencing a boom in their real estate markets. Therefore, let us take the time to examine four of the best areas to purchase homes in at this time.
Home of the UNC-Greensboro Spartans, this city’s real estate is believed to be vastly undervalued — even though the market underwent a 3.34 percent growth from January 2017 to January 2018. With a median selling price of $172,000, it may be worth combing through Greensboro for your next real estate investment, in spite of their recent loss to the Gonzaga Bulldogs.
Found in the heart of Missouri, Columbia is home to the University of Missouri and its basketball team, the Tigers. Although the team fell out of favor during their first game, their hometown’s real estate market is booming. With a median selling price of $166,000, it is quite possible that these homes are undervalued. Therefore, now is as good a time as ever to look into purchasing a place in this quaint, yet sprawling city.
Home to the Marshall Thundering Herd, which made it to the second round of the NCAA championship, this area is practically perfect for real estate investors. With a median selling price of $105,000, Huntington offers plenty of inexpensive properties that could easily be flipped for a profit. If such a project sounds appealing to you, it may be time to seriously weigh your options within this region.
The third-largest city in its state, Fayetteville is the home to the University of Arkansas and its Razorbacks. While the team is no longer in the tournament, Fayetteville is still booming. With a population of about 84,000, the area’s real estate market is believed to have grown a staggering 7.5 percent in the past year alone. Furthermore, with a current median selling price of $262,000, it would be wise to secure a deal in this city sooner rather than later.
Clearly, March Madness is not exclusive to basketball. Instead, this month presents unique opportunities for homebuyers and real estate investors alike. It will certainly be interesting to see how the remainder of the NCAA tournament influences real estate trends across the nation — namely, in the champion’s hometown.