MONEY home sales

12 Cities Where Homes Are Flying Off the Market

The average home sold in April spent 86 days on the market. But in these 12 cities, homes flew off the market a lot faster.

  • 1.

    Denver, CO

    140527_REA_MoveFast_Denver_1
    Homes in Denver sell, on average, in just 25 days. Scott Dressler-Martin—Visit Denver

    25 days: There’s just not enough homes on the market to meet demand in the Mile High City. Listings shrunk 13% in April over the same month last year. That, naturally, pushed prices up 20% to a median $340,000.

     

  • 2.

    Oakland, CA

    28 days: California buyers overall have to move quickly to buy, though competition is creeping up. In April there were 47% more homes on the market–probably why prices were up just 3% over last year to a median $499,950.

     

  • 3.

    San Jose, CA

    30 days: The home market in the center of the tech universe held fairly steady in April, with home prices up a solid 5% from last year. Median: $709,500. For the month, the average home sold at 106% of the list price, indicating bidding wars are still going strong, according to the Santa Clara County Association of Realtors.

     

  • 4.

    San Francisco, CA

    140527_REA_MoveFast_SanFrancisco_1
    Scott Chernis Photography—San Francisco Travel Association

    33 days: Bidding frenzy slowed a bit, with homes taking 18% longer to sell than last year, even as the market got tighter. Prices jumped 7% to a median $879,000. In all of California, in fact, single-family home sales were down 7% over last year, according to the California Association of Realtors. Association president Kevin Brown attributed that to investors slowing their buying.

     

  • 5.

    Seattle, WA

    33 days: The Seattle-Bellevue-Everett area saw listings jump 19% and prices stay flat at $380,000. Tyler McKenzie, president-elect of the Seattle-King County Association of Realtors, says 75% of his listings have seen multiple offers since January 2012. In the last five weeks, 90%.

     

  • 6.

    Anchorage, AK

    140527_REA_MoveFast_Anchorage_1
    Michael DeYoung/Design Pics—Getty Images/First Light

    39 days: Buying is heating up in the wintry north, pushing prices up 7% to $310,000 in the last year.

     

  • 7.

    Stockton, CA

    41 days: Prices are still bouncing back strong from the housing bust. In April, the median price jumped 42% to $269,250, partly because low-end foreclosures have virtually disappeared from the market.

     

  • 8.

    Sacramento, CA

    43 days: Another robust California market, this area saw prices rise 20% to $334,900. The majority of homes–69%–sold in under 30 days, according to the Sacramento Association of Realtors. Short sales are down from 23% of the market last year to 9% in April. The market needs more homes in the $250,000 to $500,000 range, says Paula Swayne, president of the Sacramento Association of Realtors. She cited a recent home in the Land Park neighborhood, listed for $525,000, that sold a week later for $561,000. “It’s a tough market for buyers right now,” Swayne says.

     

  • 9.

    Boulder, CO

    43 days: Like its larger counterpart to the south (No. 1-ranked Denver), this university town continues to have a shortage of homes for sale. Listings are down 5% from last year while prices rose 5% to $405,339.

     

  • 10.

    Boston, MA

    140527_REA_MoveFast_Boston_2
    The Beacon Hill neighborhood of Boston. Greater Boston CVB

    47 days: April prices in the Boston area, which includes Worcester and Lawrence, rose 4% in April to a median $359,900. Too few homes on the market contributed to a 12.4% decline in sales, says the Greater Boston Association of Realtors, while pent-up buyer demand continues to send prices higher. At the current pace, the batch of for-sale listings would sell in 3.6 months, nearly half the six months considered a balance between buyers and sellers.

     

  • 11.

    Austin, TX

    48 days: Another city that needs more sellers. Listings fell 8% over last year, while prices rose 18% to $295,000. It’s a sellers’ market, with only a 2.3-months supply of homes.

     

  • 12.

    Dallas, TX

    49 days: Price hikes are starting to slow in Dallas. In April, they were up 8% to $233,900. Sellers in Dallas County received 95% of their asking prices, according to the MetroTex Association of Realtors.

     

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