Fresh data from the refreshed coldwellbanker.com website shows 82% of all searches to date were looking to move out of state. This is according to the latest reporting from Coldwell Banker’s Move MeterSM, which tracks trends and insights into where Americans are dreaming of moving, giving sellers an informative, clear picture about the potential of listing their homes.
The Move Meter compares cost of living city by city and was created by Coldwell Banker Real Estate as part of a suite of industry exclusive tools to allow consumers to dream of home and guide them to their new destination, the company said. In addition to the Move Meter, coldwellbanker.com, offers exclusive tools like the CB Estimate℠, which provides a home-value estimate, and a new Seller’s Assurance Program, a release stated.
Key findings:
- The average Move Meter search covered 1,015 average miles (about the distance of New York to Miami).
- 82% of all Move Meter searches were looking to move out of state.
- On the flip side, Massachusetts had the greatest proportion of searchers considering staying in-state, with 40% of all searches from Massachusetts looking to stay loyal to the Commonwealth.
- Only about 13% of all searches were looking within a driving distance of 100-miles from their origin destination with the highest proportion of moves being somewhere between 500 to 1,500 miles away (42%).
- While Midwesterners and Northeasterners are looking for warmer temps in the Southeast (38% vs 46%), Southeasterners, Southwesterners and Westerners all had higher likelihoods of staying local to their respective regions.
- Austin, Texas, topped the chart as the most searched destination to move to, and had 46% more searches than the next closest destination. The top locale dreaming about moving to Austin is San Diego, California. So how does the move stack up? According to the Move Meter, the move from San Diego to Austin could be a smart move if you value job market strength.
- 20% of searches from California were looking to stay in the Golden State. The top in-state searches looking to move somewhere else within California were from San Diego, San Francisco and Bakersfield.
- And for those looking outside of California, where were they dreaming about? Californians are looking to Texas, Florida, Tennessee and Washington overall, with Austin, Dallas, Seattle and Nashville having the greatest move appeal outside of California.
- 1 state topping the Move Meter interest index was Florida with one out of seven of all Move Meter℠ searches looking to move to the Sunshine State.
- The top states looking to soak up the Florida sun included New Jersey, California, New York, Illinois, Ohio and Massachusetts. Where in Florida are these searchers looking? Sarasota, Miami, Naples, and Tampa were the most popular searched cities.
- Floridians don’t disagree – they, too, see the appeal, as they were one of the top states searching for destinations within the state as well, with a quarter of Floridian searches looking to stay in-state.
- The other top states Floridians are searching was North Carolina and Tennessee.
- The top 10 searched cities included Austin; Sarasota, Florida; San Diego; Denver; Nashville, Tennessee; Tampa, Florida; New York; Naples, Florida; Charlotte, North Carolina; and Seattle.
Comments from the execs:
“Our new Move Meter tool provides insights into where American’s are looking to make their dream moves,” said Ryan Gorman, CEO of Coldwell Banker Real Estate LLC. “Since 1906, Coldwell Banker has served as the leading innovator in real estate, with agents in nearly every market in the US, we provide the tools and the resources sellers need to help make their dreams come true, wherever their search takes them. If you’re looking to make that big move—let our Coldwell Banker agents guide you there.”
“Through the new tools on coldwellbanker.com, we’re seeing a strong interest and desire in Americans and homeowners to take a leap of faith and relocate to live in their dream destinations this summer,” said David Marine, CMO of Coldwell Banker Real Estate LLC. “The Coldwell Banker Move Meter provides sellers with the support and tools they need to make those dreams become a reality.”
To view the Move Meter, visit coldwellbanker.com/movemeter.
