Number of Homes Flooding Onto the Market Grows—Here’s Where You Can Score a Bargain Below $500K

Buyers have more choices when trying to find their dream home.

New listings were up 27.6% year over year, and the number of homes for sale has now been higher than the previous year for 70 weeks straight, according the Realtor.com® housing report for the week ending March 8, 2025.

"This continued rise in active inventory is in part due to less active buyers," says Realtor.com senior economic research analyst Hannah Jones. "With more choices available, buyers can afford to be more selective, putting pressure on sellers to price competitively."

Fresh listings shot up 8.3% year over year, signaling "that sellers are gaining confidence in listing their homes despite persistently high mortgage rates," according to Jones. New listings tend to tick higher in the spring and into the summer.

Among the top 10 least expensive markets that Realtor.com identified, two are in the South, two are in the Northeast, and six are in the Midwest. None is in the West.

Biggest bang for your buck

Of the 50 largest metros, the least expensive city to buy a home is Pittsburgh, PA.

Pittsburgh is a lively city that's home to three professional sports teams. With its low cost of living and thriving job market, the Steel City is an affordable option for young professionals and growing families.

Here's the pack of the top 10 least expensive metros, led by Pittsburgh.

Top 10 least expensive metros

1. Pittsburgh, PA 

Pittsburgh is a prime location for college graduates starting their careers. The city boasts a dynamic and expanding economy, with key sectors in education, technology, health care, and finance.

• Median list price: $229,000

• Number of listings below $300,000: 424

• Number of listings between $350,000–$500,000: 997

2. Detroit, MI

Detroit is one of the most undervalued housing markets in the U.S., with the typical homeowner spending just 17% of their per capita income on housing expenses, according to the U.S. News Housing Market Index. 

In recent years, Motor City has been experiencing a comeback fueled by a combination of new economic opportunities and low cost of living, according to Jones. As the birthplace of Motown, it has a dynamic arts and music culture, offering endless entertainment opportunities.

• Median list price: $239,900

• Number of listings below $300,000: 1,670

• Number of listings between $350,000–$500,000: 1,979

3. Cleveland, OH

Cleveland, Ohio's second-largest city, lies along the shores of Lake Erie, offering a wealth of outdoor activities. It also boasts low climate risks and a vibrant cultural scene.

According to Jones, Cleveland faced its share of economic challenges in the past, which led to falling local populations and lower housing demand.

"Low demand kept home prices well below the national level for the last 20 years," she says.

• Median list price: $241,725

• Number of listings below $300,000: 455

• Number of listings between $350,000–$500,000: 599

4. Buffalo, NY

People flock to Buffalo for its great schools, strong sense of community, and close proximity to both Canada and Niagara Falls. The birthplace of the Buffalo wing is also known for its incredible dining options.

• Median list price: $249,974

• Number of listings below $300,000: 180

• Number of listings between $350,000–$500,000: 320

5. St. Louis, MO

A magnet for startups, St. Louis is emerging as America's next tech hub, full of job opportunities. The Missouri city also features gorgeous hiking trails, countless breweries, and a world-famous zoo for locals to enjoy.

• Median list price: $276,799

• Number of listings below $300,000: 814

• Number of listings between $350,000–$500,000: 1,234

6. Birmingham, AL

Birmingham is a big city with a small-town feel. This family-friendly metro has an amazing live-music scene, ample green spaces, and top-tier medical care.

• Median list price: $285,000

• Number of listings below $300,000: 535

• Number of listings between $350,000–$500,000: 825

7. Indianapolis, IN

Indianapolis boasts a booming job market that draws in recent graduates, and there's no shortage of things to explore in this close-knit city.

From scenic state parks to a world-class international airport, plus an abundance of theaters, museums, and professional sports—there's always something to do in the city known as the Crossroads of America.

• Median list price: $300,000

• Number of listings below $300,000: 552

• Number of listings between $350,000–$500,000: 1,551

8. Louisville, KY

Louisville, the birthplace of the Kentucky Derby, blends Southern hospitality with a touch of urban sophistication.

People are drawn to the city for its historic architecture, tight-knit community, and central location. And don't forget the bourbon tastings!

• Median list price: $309,950

• Number of listings below $300,000: 356

• Number of listings between $350,000–$500,000: 919

9. Oklahoma City, OK

OKC is more than just OK for the people who call it home. This safe city boasts a thriving job market, quick commutes, and an excellent work-life balance.

There’s always something to do, whether it’s cheering on the Oklahoma City Thunder, exploring a museum, or relaxing at the botanical gardens.

• Median list price: $314,992

• Number of listings below $300,000: 381

• Number of listings between $350,000–$500,000: 1,237

10. Cincinnati, OH

Cincinnati, affectionately known as "Cincy" by locals, is an excellent place to settle down thanks to its lively sports scene, numerous attractions, and more than 5,000 acres of parks.

The city's location in the heart of the Midwest also makes it a convenient base for exploring other prominent cities in the region.

• Median list price: $324,950

• Number of listings below $300,000: 169

• Number of listings between $350,000–$500,000: 556