Dreaming of Places Far, Far Away: New Coldwell Banker Data Shows High Rate of Out-of-State Searches
Fresh Coldwell Banker data from the Move Meter℠ reveals where Americans are dreaming of moving
MADISON, N.J., July 6, 2022 /PRNewswire/ -- This summer, as Americans enjoy their favorite activities to cool down, dreams of moving are heating up. Fresh data from the Move MeterSM on the refreshed coldwellbanker.com shows trends and insights into where Americans are dreaming of moving, giving sellers an informative, clear picture about the potential of listing their homes. In fact, 82% of all Move Meter℠ searches to date were looking to move out of state.
The Move Meter℠ compares cost of living city by city. It 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. In addition to the Move Meter, Coldwell Banker has created the ultimate destination for home sellers at coldwellbanker.com, with industry exclusive tools like the CB Estimate℠, which provides a home value estimate, and a remarkable new Seller's Assurance Program.
Americans are on the Move (Meter)
Going the distance: The average Move Meter℠ search covered 1,015 average miles (about the distance of New York to Miami).
Eighty-two percent (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%).
Chasing Sunshine: 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.
Americans are dreaming of moving – but where to?
Southern Charm: 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.
California Dreamin': 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.
Burnin' Up for Florida: The #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.
Destination Dreams: 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.
With a network of over 100,000 agents across the globe, Coldwell Banker has affiliated agents in nearly every market in the United States. So, no matter where searchers are looking, a Coldwell Banker affiliated agent can help make the dream come true. Home sellers and buyers can visit coldwellbanker.com to find an agent and prepare for their next move to their dream home using the coldwellbanker.com/movemeter.
CLICK TO TWEET:
"Our new Move Meter℠ tool provides insights into where American's are looking to make their dream moves. 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."
- M. Ryan Gorman, CEO of Coldwell Banker Real Estate LLC
"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. The Coldwell Banker Move Meter℠ provides sellers with the support and tools they need to make those dreams become a reality."
- David Marine, CMO of Coldwell Banker Real Estate LLC
About Coldwell Banker Real Estate LLC
Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.
Anywhere Real Estate Inc. (NYSE: HOUS) is on a mission to empower everyone's next move. Home to some of the most recognized brands in real estate – Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA®, and Sotheby's International Realty® – the AnywhereSM portfolio includes franchise and brokerage operations as well as national title, settlement, and relocation companies and nationally scaled mortgage origination and underwriting joint ventures. Supporting approximately 1.5 million home transactions in 2021, Anywhere is focused on simplifying, digitizing, and integrating the real estate transaction for all consumers, no matter where they may be in their home buying and selling journey. With innovative products and technology, Anywhere fuels the productivity of its approximately 196,200 independent sales agents in the U.S. and approximately 136,400 independent sales agents in 118 other countries and territories. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, Anywhere has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2022 Top Companies in the U.S., and honored by Forbes as one of the World's Best Employers 2021.
Coldwell Banker Real Estate LLC
G&S for Coldwell Banker Real Estate LLC
SOURCE Coldwell Banker Real Estate LLC