A hot real estate market can work both ways.
Typically, rising prices reflect the improving dynamics of an underlying city, whether from growing employment, rising wages or other factors that increase the quality of life for the city’s residents.
However, some markets can get overheated; in a hot housing market, list prices can greatly exceed the median home values in a local area, with sellers looking to make larger profits.
Here’s a look at some of the fastest-selling real estate markets in the country, ranked by average number of days on the market, as identified by Point2. This information can be valuable whether you are buying or selling a home in these markets.
1. Grand Rapids, Michigan
- Days on market: 6
- Median list price: $280,000
2. Lakewood, Colorado
- Days on market: 6
- Median list price: $560,000
3. Fayetteville, North Carolina
- Days on market: 7
- Median list price: $217,500
4. Fort Wayne, Indiana
- Days on market: 7
- Median list price: $207,500
5. Wichita, Kansas
- Days on market: 7
- Median list price: $220,000
6. Bellevue, Washington
- Days on market: 8
- Median list price: $1,420,000
7. Rockford, Illinois
- Days on market: 8
- Median list price: $144,500
8. Springfield, Missouri
- Days on market: 8
- Median list price: $209,450
9. Anchorage, Alaska
- Days on market: 6
- Median list price: $395,000
10. Cincinnati, Ohio
- Days on market: 9
- Median list price: $265,000
11. Des Moines, Iowa
- Days on market: 9
- Median list price: $210,000
12. Omaha, Nebraska
- Days on market: 9
- Median list price: $275,000
13. Sunnyvale, California
- Days on market: 9
- Median list price: $1,744,250
14. Tacoma, Washington
- Days on market: 9
- Median list price: $465,000
15. Vancouver, Washington
- Days on market: 9
- Median list price: $497,500
Brooke Barley contributed to the reporting for this article.
Data is sourced from Point2 and is accurate as of Oct. 19, 2023.
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