The 10 Best Cities for Buying or Selling a Home According to real-estate firm Zillow, sellers on the West Coast have the upper hand, while out East, the equation is reversed.

By Laura Entis

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

"Go West, young man," author Horace Greeley famously advised back in the 1800s. Judging from real-estate Zillow's list of the top 10 markets for both buyers and sellers, men (and women!) continue to vigorously heed Greeley's words.

According to Zillow, the West coast is oh-so-hot right now, which means sellers should have the upper hand in negotiations as listings are snapped up. Meanwhile in the Midwestern and East Coast metros, the equation is reversed; homes typically remain on the market longer, giving buyers leveraging power.

Six out of the 10 best cities for selling are on the West coast; five are in California. San Francisco, in the news lately for sky-rocketing rents, comes in at No. 2, outranked only by San Jose.

"The real estate data in markets on both coasts are telling markedly different stories," Stan Humphries, Zillow's chief economist, said in a statement. "Relatively strong job markets in the West are helping spur robust demand, which is being met with limited supply, causing rapid home value appreciation and giving sellers an edge. In the East, housing markets are appreciating a bit more slowly, and homes are staying on the market longer."

Related: The 10 Hottest Housing Markets for 2014

The hottest markets for sellers are not necessarily those where home values are rising, the firm stated. Instead, three key characteristics determine if a particular city is a good place for home sellers:

  1. Homes are on the markets for a shorter period of time.
  2. Price cuts occur less frequently.
  3. Homes are sold at prices close to or higher than their last listing price.

In buyers' markets, of course, the reverse is true.

"In general, buyers in sellers' markets this spring can expect tight inventory, increased competition and a greater sense of urgency," Humphries said. "Sellers in buyers' markets may need to be prepared to lower their asking price, or to wait longer for the perfect buyer to come along."

Check out both lists below:

The 10 Best Cities for Buying or Selling a Home

Related: The 25 Best U.S. Cities for Tech Startups

Laura Entis is a reporter for Fortune.com's Venture section.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

Business News

Your Old Apple AirPods Can Soon Act as an Over-the-Counter Hearing Aid, According to the FDA

The new software is compatible with the Apple AirPods Pro and accessible through iOS — for free and now FDA-authorized.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Barbara Corcoran Says She Doesn't Look at Resumes: 'Always Hire Attitude Over Experience'

If you think you need a strong resume to work with real estate pioneer Barbara Corcoran, think again.

Leadership

The 4 Pillars of Leadership — How Process-Driven Leaders Enhance Performance

Let's explore how process-oriented leaders help drive businesses and teams forward — and how they can leverage their style for maximum impact.

Starting a Business

He Quit Working in 'Toxic' Restaurants and Started a Business That's on Track to Surpass $150 Million in Revenue: 'Unstoppable Demand'

When Chris Kirby noticed a gap at his local farmer's market, he "sprang into action pretty quickly."