Homes Are Selling 30 Days Faster Than Last Year

Nationwide, homes listed for sale on real estate marketplace Zillow sold a month faster in September 2013 than they did in the same month one year earlier – 86 days compared to 116 days in September 2012.

The fastest home turnover markets in the U.S., according to Zillow, include the San Francisco Bay Area (48 days); Sacramento, Calif. (59 days); and Dallas (60 days).

Homes sold faster this September compared to last September in all 30 of the largest metros. Large metros that saw the greatest gain in turnover rate include Las Vegas (44 days faster), Sacramento (43 days) and San Antonio (37 days).

In order to correct for homes that are listed, removed and re-posted with new prices, Zillow considered multiple listings within 40 days at the same address as one listing. Since the beginning of 2010, homes nationwide have spent a median of 119 days listed before being sold or taken off the market.

“Home shoppers in today’s environment need to be prepared to move quickly, with pre-approvals in place and an established sense of what they’re willing to pay for a home,” says Zillow Chief Economist Dr. Stan Humphries.

© 2013 Florida Realtors®