Spring ushers in the start of the busiest home-buying season, and according to Realtor.com’s Chief Economist Jonathan Smoke, supply and demand have gained strong momentum, bringing these 15 markets to the top of the list this year.
“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 said.
“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.”
According to Smoke, median list prices increased to $225,000, up 9% year-over-year and 2% over March, and the amount of time homes stayed on the market, a median of 73 days, was down 12% year-over-year and month-over-month.
Additionally, inventory supply increased 5% over March. However, it is still down over last year.
So without further ado, here are the 15 hottest medium-to-large sized markets in the country for both buyers and sellers.
Markets made the following list because two things were present: properties sell quicker than the national average, and there are plenty of viewings for homes once listed for sale:
15. Sacramento--Roseville--Arden-Arcade, California
14. Oxnard-Thousand Oaks-Ventura, California
13. San Luis Obispo-Paso Robles-Arroyo Grande, California
12. Santa Cruz-Watsonville, California
11. Boulder, Colorado
10. San Francisco-Oakland-Hayward, California
9. Detroit-Warren-Dearborn, Michigan
8. Ann Arbor, Michigan
7. Nashville-Davidson--Murfreesboro--Franklin, Tennessee
6. San Diego-Carlsbad, California
5. Boston-Cambridge-Newton, Massachusetts-New Hampshire
4. Denver-Aurora-Lakewood, Colorado
3. Vallejo-Fairfield, California
2. Santa Rosa, California
1. Dallas-Fort Worth-Arlington, Texas