Nevada City Virtual Tour

Thursday, January 9, 2014

More Than a Quarter of Homes Sold in Two Weeks or Less in November

More Than a Quarter of Homes Sold in Two Weeks or Less in November
Market speed remained stable for the third consecutive month in November, according to a report by Redfin. Across 23 metro areas, 27.2 percent of homes went under contract in two weeks, up slightly from 26.9 percent in October.

 While the percent of homes selling in two weeks or less remained steady, homes overall took a bit longer to sell in November than in October. For all homes across the 23 metros, the median number of days a home spent on the market before going under contract grew to 34 from 31 days in October.

 Buyers in San Jose, Calif., scooped up homes the quickest in November, with 48.6 percent of listings going under contract within two weeks, up from 48 percent in October. Homes in San Jose sat on the market for a median of just 12 days.
 Las Vegas saw the biggest month-over-month increase in market speed, with a 5.7-point increase in the rate of homes going under contract in two weeks. Ventura, Calif. followed closely behind with a 5.6-point increase.

Median Number of Days on Market Until Pending, November 2013
Speed RankingMarketCurrentLast MonthLast Year
#1San Jose, CA141412
#2San Francisco, CA161415
#3Washington, D.C.211721
#4Los Angeles, CA222023
#5San Diego, CA232020
#6Seattle, WA242029
#7Sacramento, CA252222
#8Riverside, CA252124
#9Ventura, CA261823
#10Austin, TX272441
#11Denver, CO282332
#12Phoenix, AZ292518
#13Dallas, TX302742
#14Chicago, IL313044
#15Houston, TX323248
#16Baltimore, MD343643
#17Portland, OR352840
#18Atlanta, GA403835
#19Boston, MA424155
#20Miami, FL494791
#21Las Vegas, NV676491
#22Raleigh, NC696382
#23Philadelphia, PA716984
23 Markets343142
Note: Fastest Markets data is preliminary and subject to change.

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