DAILY REAL ESTATE NEWS | FRIDAY, MAY 01, 2015
The housing market has been gaining strength this spring, according to realtor.com®’s latest housing report. Median list prices rose to $225,000 in April – up 9 percent year-over-year. As prices rise, homes are staying on the market for less time too. The median number of days on the market was 73 in April, down 12 percent over last year. Inventory supplies also ticked up 5 percent in April over March, offering more choices for buyers. Still, inventories remain down over last year’s numbers.
Read more: More Buyers Than Usual Enter Spring Market
Realtor.com®’s Chief Economist Jonathan Smoke says 15 markets in particular are proving to be the “hottest” medium-to-large-sized markets for buyers and sellers alike.
“As the market shows strong signs of health and improvement during the start of spring home-buying season, these 15 markets are the best in the country from both a supply and demand perspective,” Smoke says. “Sellers are seeing listings move between 29 and 49 days more quickly than in the rest of the country and at an accelerating pace from just last month – an average of five days faster. Meanwhile, these markets are especially attractive to buyers, as listings are viewed two-to-three times more often than the national average.”
The hottest markets nationwide, according to realtor.com®, are:
- Dallas-Fort Worth-Arlington, Texas
- Santa Rosa, Calif.
- Vallejo-Fairfield, Calif.
- Denver-Aurora-Lakewood, Colo.
- Boston-Cambridge-Newton, Mass./N.H.
- San Diego-Carlsbad, Calif.
- Nashville-Davidson-Murfreesboro-Franklin, Tenn.
- Ann Arbor, Mich.
- Detroit-Warren-Dearborn, Mich.
- San Francisco-Oakland-Hayward, Calif.
- Boulder, Colo.
- Santa Cruz-Watsonville, Calif.
- San Luis Obispo-Paso Robles-Arroyo Grande, Calif.
- Oxnard-Thousand Oaks-Ventura, Calif.
- Sacramento-Roseville-Arden-Arcade, Calif.
Copyright National Association of REALTORS®. Reprinted with permission.