According to Zillow, U.S. homes sell in 48 to 60  days in San Francisco, Sacramento and Dallas, while nationally median days on market has dropped to 86. This contrasts sharply with Sept 2012’s 116 days.

Here’s the announcement:

U.S. Homes Selling 30 Days Faster Than A Year Ago

San Francisco Bay Area, Sacramento, Dallas Among Nation’s Fastest-Moving Markets, According to Zillow

SEATTLE, Nov. 14, 2013 /PRNewswire/ — Nationwide, homes listed for sale on real estate marketplace Zillow® were selling a month faster in September than a year ago, according to a new analysis. In the United States as a whole, homes sold in September spent a median of 86 days on Zillow, down 30 days from 116 days in September 2012.

Among the 30 largest metro markets covered by Zillow in September, homes moved the fastest and spent the fewest days listed on Zillow in the San Francisco Bay Area (48 days); Sacramento, Calif. (59 days); and Dallas (60 days). Homes sold faster this September compared to last September in all 30 of the largest metros. Large metros where homes moved the fastest this year compared to last year include Las Vegas (44 days faster),Sacramento (43 days faster) and San Antonio (37 days faster).

Zillow calculated the median number of days listings spent on Zillow, at the national, metro and county levels, dating to January 2010. In order to correct for homes that are listed, then removed and re-posted with new prices, Zillow considered multiple listings within 40 days at the same address as one listing. Since the beginning of 2010, homes nationwide have spent a median of 119 days on Zillow before being sold or taken off the market.

“The declining inventory of for-sale homes over the past year naturally creates pressure for buyers to more quickly snap up the inventory that is on the market. This demand has been fueled by huge resets in home prices since market peak, historically low mortgage rates and a slowly improving broader economic climate,” said Zillow Chief Economist Dr. Stan Humphries. “Home shoppers in today’s environment need to be prepared to move quickly, with pre-approvals in place and an established sense of what they’re willing to pay for a home. But even though things are moving fast, buyers should resist the urge to enter into bidding wars or pay prices they’re uncomfortable with. We do expect that this need for speed will abate in the near-term as mortgage rates rise and more inventory becomes available because of new construction and declining negative equity.”

Metro Sept. 2013 Days on Zillow Sept. 2012-Sept. 2013 # of Days Difference Median Days on Zillow, Jan. 2010-Current
United States 86 -30 119
New York, NY 151 -19 178
Los Angeles, CA 64 -27 95
Chicago, IL 112 -24 142
Dallas-Fort Worth, TX 60 -27 95
Miami-Fort Lauderdale, FL 104 -15 120
Philadelphia, PA 116 -18 132
Houston, TX 78 -32 118
Washington, DC 74 -28 97
Atlanta, GA 101 -18 124
Detroit, MI 103 -12 116
Boston, MA 99 -8 108
Phoenix, AZ 65 -15 94
San Francisco, CA 48 -19 73
Riverside, CA 70 -33 101
Seattle, WA 64 -25 98
Minneapolis-St Paul, MN 90 -21 121
Tampa, FL 95 -23 120
St. Louis, MO 100 -17 118
San Diego, CA 60 -35 92
Baltimore, MD 108 -24 138
Pittsburgh, PA 103 -17 122
Denver, CO 60 -16 86
Cleveland, OH 101 -34 130
Orlando, FL 101 -15 117
Portland, OR 67 -20 98
Cincinnati, OH 125 -1 120
Kansas City, MO 136 -9 130
Sacramento, CA 59 -43 94
Las Vegas, NV 75 -44 114
San Antonio, TX 73 -37 115

More information is available by contacting .

About Zillow:
Zillow, Inc. (NASDAQ: Z) operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 350 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. The Zillow, Inc. portfolio includes®, Zillow Mobile,Zillow Mortgage MarketplaceZillow RentalsZillow Digs™, Postlets®, Diverse Solutions®, Agentfolio™, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle., Zillow, Postlets, Mortech, Diverse Solutions and StreetEasy are registered trademarks of Zillow, Inc. HotPads, Digs and Agentfolio are trademarks of Zillow, Inc.

SOURCE Zillow, Inc.

Print Friendly, PDF & Email