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October 31, 2014

5 Fastest-Moving Housing Markets

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5 Fastest-Moving Housing Markets

The U.S. housing markets where homes are selling the fastest are mostly in the West, according to a new survey by ZipRealty. In fact, some western markets have seen a big rise in homes selling in seven days or less. 

ZipRealty identified the following five markets as the fastest selling markets:

Orange County, Calif.

Median days on the market (as of March 31): 15 — a 71 percent year-over-year drop from 52 days

Percentage of homes that sell in seven days or less: 29 percent

Median home-price increase year-over-year: 27 percent to $495,000

San Diego, Calif.

Median days on the market: 20 — a 59 percent year-over-year decrease from 49 days

Percentage of homes that sell in seven days or less: 25 percent

Median home-price increase year-over-year: 22 percent to $390,000

Sacramento, Calif.

Median days on the market: 12 — a 57 percent drop year-over-year from 28 days

Percentage of homes that sell in seven days or less: 30 percent

Median home-price increase year-over-year: 31 percent to $210,000

Los Angeles

Median days on the market: 15 — a 56 percent drop year-over-year from 52 days

Percentage of homes that sell in seven days or less: 29 percent

Median home-price increase year-over-year: 26 percent to $307,564

Las Vegas

Median days on the market: 12 — a 53 percent year-over-year drop from 28 days

Percentage of homes that sell in seven days or less: 30 percent

Median home-price increase year-over-year: 35 percent to $148,500

Source: ZipRealty

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