5 Best Metro Areas for Home Sellers This Spring

Cars wait at a stop light next to Center Church in downtown Hartford Connecticut on a sunny day.
benedek / Getty Images

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Nationwide, homebuyers have started regaining the upper hand in housing markets. Inventory listings have spiked 30.6% year over year, according to Realtor.com, as more sellers give up on waiting out high interest rates. 

Yet some metro areas remain seller’s markets. Homeowners considering selling in these five markets could consider striking while they still have the upper hand. 

Also see five mistakes first-time sellers make when preparing to sell.

San Francisco

  • Median home price: $1,310,207
  • Year-over-year change: 2.0%

Zillow reported that a shocking 57.2% of home listings are selling above list price in San Francisco, compared with 24.6% nationwide. 

Holly Schaefer, Realtor with Corcoran Icon Properties, said that the Marin County suburbs of San Francisco have been especially kind to sellers this spring. “It’s a small, beautiful place that’s easy to commute to San Francisco, Oakland or even Silicon Valley by bus, ferry or even bike. Topping it off, the schools here are also incredibly desirable,” she said.

Lincoln, Nebraska

  • Median home price: $285,860
  • Year-over-year change: 2.7%

The average Lincoln listing spends little more than a week (nine days) on the market before getting snapped up, per Zillow. 

“Lincoln has a limited inventory problem, which puts sellers in a strong position,” explained George Shada, real estate investor and owner of G&R Investment Group. “Homes in good school districts are especially hot this spring, with many going under contract in less than a week.”

Today's Top Offers

Hartford, Connecticut

  • Median home price: $196,649
  • Year-over-year change: 7.5%

Hartford homes face similarly limited inventory. As reported by the New Haven Register, Hartford ranked third among the best markets for home sellers by Redfin.

Listings last just two weeks on the market on average, compared with a nationwide average of 19 days, per Zillow.

Philadelphia

  • Median home price: $231,560
  • Year-over-year change: 3.4%

The Philadelphia metro area has also seen stronger demand than most over the last year. Home prices have risen at more than double the nationwide pace. 

Austin Glanzer, owner of Noble House Buyers, has seen this play out firsthand. “In the suburbs of Philadelphia, especially on the New Jersey side in Gloucester and Camden counties, sellers are back in control. Renovated homes are flying off the market in less than a week, and we’re seeing investors and first-time buyers both making high offers to lock in deals,” he said.

Chicago

  • Median home price: $309,809
  • Year-over-year change: 2.1%

In the Chicago market, nearly a third (32%) of home listings are selling above listing price. Homes spend just 13 days on the market before going under contract, per Zillow. 

“This spring, Chicago’s suburban homeowners are in a strong selling position,” said Samuel Wooten, owner of Two Rivers Properties. “With limited inventory and continued buyer demand, especially for move-in-ready homes under $400,000, sellers are seeing quick sales and multiple offers — often above asking price.”

Editor’s note: All median home price and year-over-year change figures were sourced from Zillow.

Today's Top Offers

Sources

BEFORE YOU GO

See Today's Best
Banking Offers

Looks like you're using an adblocker

Please disable your adblocker to enjoy the optimal web experience and access the quality content you appreciate from GOBankingRates.

  • AdBlock / uBlock / Brave
    1. Click the ad blocker extension icon to the right of the address bar
    2. Disable on this site
    3. Refresh the page
  • Firefox / Edge / DuckDuckGo
    1. Click on the icon to the left of the address bar
    2. Disable Tracking Protection
    3. Refresh the page
  • Ghostery
    1. Click the blue ghost icon to the right of the address bar
    2. Disable Ad-Blocking, Anti-Tracking, and Never-Consent
    3. Refresh the page