Just last month I put a house on the market at $235,000 and within 5 days had 2 offers and tons of interest. Things are looking good, and there is lots of competition out there with multiple bid situations even on houses at $300,000 (I had to fight for my buyer to get a house at this price in a multiple bid situation).
Nationally, the median age of inventory of homes on the market shrank slightly in May from April to 92 days, but still marks a 4.55% year-over-year increase.
But in some markets homes are selling much faster. For example, the fastest-selling market continues to be Denver,Colorado, where homes are selling, on average, in just over a month at 39 days!
Here's a look at the fastest-selling markets from May, based on the median age of inventory of 146 markets tracked by Realtor.com.
1) Denver
Median age of inventory: 39
Median list price: $253,700
2) Oakland, Calif.
Median age of inventory: 46
Median list price: $320,000
3) Tampa-St. Petersburg-Clearwater, Fla.
Median age of inventory: 51
Median list price: $134,900
4) San Francisco
Median age of inventory: 57
Median list price: $628,000
5) Washington, D.C.-Md.-Va.-W.Va.
Median age of inventory: 60
Median list price: $369,999
6) Bakersfield, Calif.
Median age of inventory: 60
Median list price: $134,900
7) Rochester, N.Y.
Median age of inventory: 61
Median list price: $139,900
8) Omaha, Neb.
Median age of inventory: 61
Median list price: $150,000
9) Anchorage, Alaska
Median age of inventory: 61
Median list price: $289,000
10) Fresno, Calif.
Median age of inventory: 61
Median list price: $151,900
11) San Jose, Calif.
Median age of inventory: 61
Median list price: $479,000
