Houses Are Selling the Fastest in These 10 Real Estate Markets

John Csiszar
·5 min read
ESB Professional / Shutterstock.com
ESB Professional / Shutterstock.com

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.

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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. Other factors GOBankingRates analyzed in the ranking included listing prices and real estate market trends over the prior one- and two-year periods.

This information can be valuable whether you are buying or selling a home in these markets.

Last updated: Feb. 26, 2021

Sacramento, California, USA - September 19, 2017: These two women are walking downtown Sacramento on J Street past historic bank and view with a variety of with many different styles, this downtown area is now being know as DOCO for Downtown Commons many new shops and a hotel and Sports arena and unique older structures in the area on this September day the weather was comfortable.
Sacramento, California, USA - September 19, 2017: These two women are walking downtown Sacramento on J Street past historic bank and view with a variety of with many different styles, this downtown area is now being know as DOCO for Downtown Commons many new shops and a hotel and Sports arena and unique older structures in the area on this September day the weather was comfortable.

Sacramento, CA

  • Days on market: 22

  • Median list price: $615,000

Sacramento is the state capital of California and boasts 230 days of sunshine per year. The sunny climate and farm-to-fork restaurants seem to be drawing a crowd, as home are selling in about three weeks on average and prices are jumping. The median list price has popped nearly 15% over the past two years in Sacramento.

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Raleigh, North Carolina, USA downtown as viewed from the Capitol Building grounds.
Raleigh, North Carolina, USA downtown as viewed from the Capitol Building grounds.

Raleigh, NC

  • Days on market: 22

  • Median list price: $399,900

Median list prices in Raleigh have only grown about 7% in the past year, slower than the 8.53% national average. Perhaps the reasonable growth rate has helped draw in buyers, as homes are flying off the shelves in an average of just 22 days. The City of Oaks also has a median list price of just below $400,000, perhaps attracting buyers that are priced out of other cities.

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Washington Seattle
Washington Seattle

Seattle, WA

  • Days on market: 21

  • Median list price: $714,999

Seattle’s beautiful location and high-paying jobs have helped push up the median price in the city to well over double the national average. Even the 13.43% rise in year-over-year home prices hasn’t stopped the influx of buyers, however, who are snatching up homes in the city in just three weeks on average.

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Columbus, Ohio, USA skyline on the Scioto River.
Columbus, Ohio, USA skyline on the Scioto River.

Columbus, OH

  • Days on market: 21

  • Median list price: $309,900

Columbus has home prices well below the national median, but that may not remain true for long. A flood of buyers have helped push up the median home price in the city by a whopping 16.95% over the past two years.

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Downtown Dayton skyline with the Miami River and skyline reflections at dusk.
Downtown Dayton skyline with the Miami River and skyline reflections at dusk.

Dayton, OH

  • Days on market: 20

  • Median list price: $196,990

If you’re looking for a hot housing market that still has low prices, check out Dayton, Ohio. The gem city boasts a median home list price below $200,000, well below the national average of $325,000. Buyers are taking note, with that figure jumping more than 19% over the past two years alone.

Provo, Utah, USA at Provo City Center Temple at twilight.
Provo, Utah, USA at Provo City Center Temple at twilight.

Provo, UT

  • Days on market: 18

  • Median list price: $549,900

Provo, Utah has a rapidly escalating median list price of nearly $550,000, a figure which has jumped 13.09% over the past year and 17.35% over the past two, well above national averages of 8.53% and 12.67%, respectively. Provo is one of three Utah cities in the top five fastest-selling home markets in the U.S. Sellers are taking advantage, with the average listing price a shocking 34% above the median home value.

Stockton is the county seat of San Joaquin County in the Central Valley of the U.
Stockton is the county seat of San Joaquin County in the Central Valley of the U.

Stockton, CA

  • Days on market: 18

  • Median list price: $494,950

Stockton, California has undergone a dramatic recovery since 2012, when it became the largest city in history at the time to file for bankruptcy. Just nine years later, that ignominious act must seem like a distant memory, as home prices have jumped 11.38% over the past year, pushing the median list price near half a million dollars.

Salt Lake City is the capital and the most populous municipality of the U.
Salt Lake City is the capital and the most populous municipality of the U.

Salt Lake City, UT

  • Days on market: 18

  • Median list price: $538,000

Salt Lake City is one of three Utah cities in the top five fastest-growing housing markets. Median list prices have been skyrocketing, with a two-year change in home value of just under 20%. Home priced at $368,119 in December 2018 were showing values of $441,481 by December 2020.

Ogden is a city and the county seat of Weber County, Utah, United States, approximately 10 miles east of the Great Salt Lake.
Ogden is a city and the county seat of Weber County, Utah, United States, approximately 10 miles east of the Great Salt Lake.

Ogden, UT

  • Days on market: 17

  • Median list price: $449,900

Ogden may not be the most famous city in Utah, but it has a lot going for it. The city is the oldest European settlement in Utah, and it’s the closest city to Promontory Summit, where the Golden Spike completed the Transcontinental Railway. Ogden is also a year-round playground, offering skiing in the winter and hiking and fishing in the summer. Homebuyers are flocking to this popular town, where prices have soared 21.57% over the past two years.

Center of Boise Idaho as seen from above at night.
Center of Boise Idaho as seen from above at night.

Boise City, ID

  • Days on market: 16

  • Median list price: $457,800

Boise City might not be the first name to pop into your head when thinking about hot housing markets, but it should be. The Boise City housing market is on fire, with prices up 20.47% in a single year and an astonishing 32.51% over the past two years. Listing prices are nearly 20% above city median values as of December 2020.

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Methodology: GOBankingRates determined the 10 fastest-selling markets by analyzing the 100 largest U.S. metro statistical areas (MSA) based on the average number of days on the market to pending sale from Zillow’s December 2020 index (the most recent days on market data). This average value for each MSA was then used to rank the markets, with a ranking of 1 equivalent to MSAs with homes spending the fewest days on market, and 100 equivalent to spending the most days on the market. Additional data on each housing market was provided as supplemental information, including (1) the typical home value, sourced from Zillow’s December 2020 index; (2) one-year home value change, from December 2019 to December 2020; (4) two-year home value change, from December 2018 to December 2020; and (5) median list price for December 2020. All data was collected on and up to date on February 1, 2021.

This article originally appeared on GOBankingRates.com: Houses Are Selling the Fastest in These 10 Real Estate Markets