Now is a great time to sell your home. On average, home values in the U.S. have risen 7.6 percent over the past year, according to October data from Zillow’s home value index. And, there are some cities where demand is especially high.
In a study, GOBankingRates analyzed 200 cities in the U.S. For each one, we examined the Zillow’s Buyer-Seller Index, the number of days a home is on the market and a home’s sale-to-price ratio in order to identify the best seller’s markets in the country.
20. Garden Grove, Calif.
Median list price: $592,500
Days on market: 55
Buyer-seller index: 1.56
Zillow classifies the housing market in this city of more than 170,000 about 30 miles south of Los Angeles as hot. Home values in Garden Grove have increased 5.4 percent over the past year and are expected to rise 2.1 percent this year.
However, the median list price per square foot in Garden Grove is lower than the median in the Los Angeles metro area, so you can buy more home for less money. Even though it’s a seller’s market, buyers might find better deals here than in nearby Southern California cities.
19. San Diego
Median list price: $660,000
Days on market: 51
Buyer-seller index: 1.50
Home prices have shot up in this seller’s market 10 percent over the past year and are expected rise 5 percent this year, according to Zillow, making housing unaffordable to the majority of San Diego’s residents. Homes are selling fast in San Diego, too. The average number of days homes spend on the market here is the fifth-lowest on our list.
It’s no wonder San Diego is a hot market, given its warm climate and access to beaches. More than 1.4 million people live in this city on the coast of the Pacific Ocean.
18. Greenville, S.C.
Median list price: $260,000
Days on market: 67
Buyer-seller index: 1.43
This small city in the foothills of the Blue Ridge Mountains is actually one of the fastest-growing cities in the U.S., according to the Census Bureau. That’s likely why its housing market has been hot. Rising home prices mean living costs will be growing next.
Home values in Greenville have risen 9.8 percent over the past year and are predicted by Zillow to rise 4.3 percent this year. However, compared with other cities on our list, Greenville has a lower median home list price than most. And homes here spend more days on the market, on average, than all but three of the other best cities for sellers.
17. Glendale, Calif.
Median list price: $809,500
Days on market: 57.5
Buyer-seller index: 1.33
Home values in this hot housing market have climbed nearly 7 percent over the past year, and median list prices per square foot in Glendale are higher than the Los Angeles metro average, according to Zillow. Plus, Glendale has the third-highest median list price among the cities on the list. Despite the high prices, mortgage costs are still lower than rent in California.
This suburb of Los Angeles has a population of more than 200,000 and is known for its large Armenian community. It’s also home to Walt Disney Animation Studios and DreamWorks Studios.
Median list price: $699,000
Days on market: 38
Buyer-seller index: 1.28
Although Seattle doesn’t have the highest median list price on our list, it is one of the top cities where home prices are skyrocketing. Home values have soared 17 percent over the past year and Zillow expects them to rise more than 5 percent this year. Houses for sale stay on the market for fewer days in Seattle than in any of the other best cities for sellers.
Seattle is No. 2 on Forbes’ list of fastest-growing cities 2018. Not only is the population growing in Washington’s largest city, according to Forbes, but also jobs and wages are growing — which is good news if you’re selling a house in Seattle.
15. Moreno Valley, Calif.
Median list price: $317,900
Days on market: 60
Buyer-seller index: 1.18
This city of more than 190,000 is located in Southern California’s Inland Empire. Home values have risen more than 7 percent over the past year and are expected to climb nearly 5 percent this year, according to Zillow.
However, homes stay on the market longer in Moreno Valley than in more than half of the cities on our list. To hang onto more of your home sale profit, consider selling your home on your own to avoid having to pay real estate agent commissions.
14. Arlington, Va.
Median list price: $745,000
Days on market: 63
Buyer-seller index: 1.04
Across the Potomac River from Washington, D.C., this Northern Virginia county has a population of more than 230,000. It has good public schools — which buyers with kids are looking for — and it’s ranked as one of the best suburbs for millennials, according to Niche.
If you’re selling real estate in Arlington, the good news is that list prices are higher here than the Washington, D.C., metro average. And home values are expected to rise about 3 percent this year, according to Zillow.
13. Springfield, Mass.
Median list price: $144,900
Days on market: 72
Buyer-seller index: 1
The median list price in Springfield is the lowest on our list. And the average number of days homes spend on the market is among the highest in our rankings. But it’s still a hot seller’s market in this city of more than 150,000 in Western Massachusetts, especially when prices are so much lower here than the rest of the state.
The median home value in Springfield has risen more than 7 percent over the past year and is expected to rise 3.6 percent this year, according to Zillow.
12. Chula Vista, Calif.
Median list price: $519,900
Days on market: 52.5
Buyer-seller index: 1
This city in San Diego County offers access to the beach and mountains, has good public schools and has been named one of the safest cities in the country, according to the City of Chula Vista’s official website. These pluses for home buyers help explain why Chula Vista has a hot housing market.
Home values here have climbed 9 percent over the past year and are expected to rise nearly 5 percent this year, according to Zillow’s real estate market analysis. The median list price per square foot is lower in Chula Vista than in nearby San Diego, which might make homes here more appealing to buyers.
11. Pasadena, Calif.
Median list price: $879,000
Days on market: 72
Buyer-seller index: 1
Located 15 miles north of Los Angeles, Pasadena has a population of more than 140,000 and is home to the Rose Bowl and the annual Tournament of Roses Parade. Home values soared almost 9 percent last year, and Zillow expects them to rise about 3 percent this year.
In fact, Pasadena has the second-highest median list price in our rankings. However, the average number of days homes stay on the market here is longer than most cities on our list.
10. Tempe, Ariz.
Median list price: $284,999
Days on market: 57
Buyer-seller index: 0.97
This city east of Phoenix is home to Arizona State University. It has been growing at a fast pace, according to the Tempe Chamber of Commerce. Home values have risen 5.6 percent over the past year, and Zillow expects them to rise 1.7 percent this year. And homes stay on the market for fewer days, on average, than half of the cities on our list.
9. Hialeah, Fla.
Median list price: $299,000
Days on market: 93
Buyer-seller index: 0.89
Hialeah is part of the Miami metro area and has a population of more than 224,000. The majority of its residents are Hispanic — primarily Cuban or Cuban American.
Hialeah’s hot housing market has seen home values soar 11.6 percent over the past year. However, the median list price per square foot is lower than the Miami metro area average, according to Zillow. And Florida is one of the states in danger of a housing bubble, another GOBankingRates study found.
8. Fremont, Calif.
Median list price: $950,000
Days on market: 41
Buyer-seller index: 0.80
Located in the San Francisco Bay area, Fremont is home to about 230,000 people. It has the highest median list price of any city on our list, and it’s one of the cities with the most million-dollar homes for sale. The median home value has risen 12 percent over the past year, and Zillow expects it to climb nearly 5 percent this year.
Even more good news if you’re selling a house in Fremont: Homes in this city stay on the market for fewer days than in any city on our list except one — Seattle.
7. Richmond, Va.
Median list price: $220,000
Days on market: 64
Buyer-seller index: 0.77
The capital of Virginia has seen its population grow significantly over the past several years as people have been moving into the city, according to the Greater Richmond Partnership. As the population has increased in Richmond, so have home prices.
This seller’s market has seen home values rise nearly 12 percent over the past year. And only about 12 percent of listings see price cuts. Even though it’s a seller’s market, Richmond is still one of the best cities for aspiring millennial homeowners to buy.
6. San Antonio
Median list price: $230,995
Days on market: 64
Buyer-seller index: 0.71
The population of Texas’ second largest city has grown dramatically over the past several decades and is expected to keep growing, the San Antonio Express-News reported. The city’s growth has likely helped fuel its seller’s market.
However, houses stay on the market longer here, on average, than more than half of the cities on our list. And Zillow data show that the median list price has dropped to $230,995 from about $244,000 in June 2017.
5. Elk Grove, Calif.
Median list price: $415,900
Days on market: 45
Buyer-seller index: 0.50
This city near Sacramento has a population of more than 165,000. Home values increased more than 9 percent over the past year in this seller’s market. And home values are expected to continue to rise 5 percent this year, according to Zillow.
Another plus to selling real estate in Elk Grove is that houses are on the market for fewer days here than in all but two cities on our list. And only 8 percent of listings have seen price cuts.
4. Jersey City, N.J.
Median list price: $450,000
Days on market: 96
Buyer-seller index: 0.35
Across the Hudson River from New York, Jersey City has been undergoing a revival and redevelopment. The city’s population has grown as people have moved here from New York for cheaper housing, the New York Times reported. As a result, Jersey City is one of the top seller’s markets now.
Home values shot up nearly 24 percent over the past year, and Zillow expects them to rise 8 percent this year. However, homes in Jersey City sit on the market longer, on average, than in all of the other cities on our list. Don’t decrease your home’s value by doing the wrong kind of renovations.
3. Gilbert, Ariz.
Median list price: $329,900
Days on market: 56
Buyer-seller index: 0.32
Once known as the Hay Shipping Capital of the World, Gilbert is now a fast-growing suburb of Phoenix. It has a population of more than 240,000. As people have flocked to the city, it has become a seller’s market.
Home values rose nearly 7 percent over the past year and are expected to rise 2 percent this year, according to Zillow. Homes for sale in Gilbert stay on the market fewer days than in more than half of the cities on our list.
2. Arlington, Texas
Median list price: $220,000
Days on market: 47
Buyer-seller index: 0.31
Arlington is part of the Dallas-Fort Worth metro area, but with a population of about 380,000, it’s smaller than its neighbors. But Arlington’s housing market is much hotter than the markets in those two cities.
Home values jumped almost 10 percent last year and are expected to rise nearly 3 percent this year, according to Zillow. Homes in Arlington might be in more demand because the median list price per square foot here is lower than in the Dallas-Fort Worth metro area.
1. Ontario, Calif.
Median list price: $419,825
Days on market: 60
Buyer-seller index: 0.20
Another California Inland Empire city takes the No. 1 spot in this study. Ontario was created in the late 1800s by brothers from Canada as a planned community. Now it’s the top seller’s market.
Ontario has the lowest buyer-seller index value on our list — which means homes are on the market for a shorter time, price cuts happen less frequently than in other cities and homes are sold at prices close to their listing price.
Where Are the Best Places to Sell a Home?
If you live in the American Southwest, you’re at a natural advantage: Most of the cities that are best for sellers are in those states, including seven of the top 10. The real takeaway is that despite the high home prices, California is still a desirable destination — nine of the 20 total cities that are sellers’ markets are in the Golden State.
Click through to see the best cities for first-time homebuyers.
More on Real Estate
- Cities in Danger of a Housing Crisis — Is Yours on the List?
- Most and Least Affordable States for Millennial Homeowners
- The Best Place to Buy a Home in Every State
- Watch: Get a Glimpse at the Most Expensive Property in America
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Methodology: To determine the best places to sell a home, GOBankingRates analyzed the 200 most populous cities in U.S. using the following factors: Zillow’s Buyer-Seller Index, which accounts for the percentage of homes with a price cut in a given area, the number of days a home is on the market and a home’s sale-to-list-price ratio. The lower the value, the greater the seller’s market. Days on market, the lower the number the better. Median list price, via Zillow, as of January 2018.