Looking at homes in a buyer's market? You're in luck. In buyer's markets, homes stay on the market longer, price cuts occur more frequently and homes are sold for less relative to their listing price, giving buyers more negotiating power.
Zillow today announced the top markets for buyers and sellers. The rankings are based on actual sales prices compared to asking prices, the number of days listings spent on Zillow and the percentage of homes on the market with a price cut.
Thinking about buying a home? Consider these mid-priced homes for sale in the top five buyer's' markets.
No. 1: Cleveland area
3863 Glenwood Road, Cleveland Heights, Ohio
For Sale: $89,900
Looking at homes in a buyer's market? You're in luck. In bu
Built in 1922, this 1,762-square-foot home has four bedrooms and 1.5 bathrooms. Updates to the eat-in kitchen include new flooring, appliances, cabinets and countertops. A formal dining room and sunroom leading to an enclosed porch offer space for family gatherings. With the median home value for Cleveland Heights at $98,800, this home is well worth its value.
No. 2: Philadelphia area
1002 W. James St., Norristown, Pa.
For sale: $109,900
This charming three-bedroom two-bathroom home is conveniently situated on a quiet, tree-lined street. Built in 1925, the 1,448-square-foot home has kitchen updates, with a brand-new floor and stainless steel dishwasher. The location is hard to beat -- the home is close to parks, King of Prussia Mall, train line and highways. The median home value for Norristown is $115,100.
No. 3: Tampa area
15714 Muirfield Drive, Odessa, Fla.
For sale: $299,000
This 2,007-square-foot home is located in a gated community, complete with a golf course, pond, tennis court, basketball court and playground. Boasting its very own screen-enclosed heated pool, this three-bedroom, two-bathroom home is a slice of paradise. The family room, kitchen and sunny breakfast nook are adorned with large windows, peering out to a lush backyard. This home is well under Odessa's median home value of $346,300.
No. 4: Chicago area
5330 W. 109th St., Oak Lawn, Ill.
For sale: $144,900
This two-bedroom two-bathroom townhome in the Chicago metro area is located at the end of a quiet street. Perfect for entertaining, the cozy home features a large deck, private backyard, as well as a fully finished basement complete with a bar. The median home value for Oak Lawn is $158,200.
No. 5: Pittsburgh area
322 Virginia Ave., Wilkinsburg, Pa.
For Sale: $70,000
Reminiscent of a bygone era, this 1,183-square-foot home close to Pittsburgh has both character and value. Built in 1925, the two-bedroom 1.5-bathroom home has hardwood floors throughout and a large, private backyard. A fully updated bath, kitchen and furnace round out the amenities. The median home value for Wilkinsburg's 15221 ZIP Code is $76,600.
More from Zillow about the housing market:
Tips for Buyers in a Seller's Market
Sellers in Strong Buyer's Markets Find Ways to Stand Out
Top 5 Mistakes Homebuyers Make -- And How to Avoid Them
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