When you’re selling a home, just how fast you can sell it matters a lot. No one wants to have two mortgages to pay if they’ve already bought a new home or to be left in limbo. Getting the last home sold is an important part of getting your finances straight, and that happens in some cities far faster than it does in others.
According to CreditNews Research, the top 10 fastest-selling metros share a few things in common: They’re all situated on the East Coast and Midwest and have seen a sharp decline in their housing inventory since Covid.
These are the fastest markets for selling a home as well as the slowest markets.
The Fastest Markets
These cities are the fastest in the country in terms of home sales. They’re red-hot markets that have people lined up to buy the new housing inventory on the market.
Hartford, CT
In population-dense Hartford, people are always looking for a home. That has made this the fastest home-selling market in the country with an average of eight days from listing to pending.
Rochester, NY
The Northeast of the country is where many fast home markets are, and Rochester is one of them. Selling a home in this city in upstate New York will only take an average of nine days.
Syracuse, NY
Yet another New York city where real estate moves fast, Syracuse houses are flying off the shelves. The average sale time is nine days, down more than 82% since 2020.
Harrisburg, PA
In Harrisburg, the city ties with several others with a sales time of just nine days. This city’s average selling time is down more than 60% over the past four years.
Richmond, VA
In 2020, Richmond had an average selling time of 33 days. Today, it’s just 11 days. This is a reduction of time of more than 66% during this period.
Grand Rapids, MI
Moving to the Midwest, Grand Rapids is the only city in Michigan that made the top 10 fastest markets. It ties with Richmond for an average time from listing to pending of just 11 days.
New Haven, CT
Another city with an average selling time of 11 days, New Haven has a quick and lively housing market. The time it takes to sell a home has gone down by almost 75% in the last four years.
Boston, MA
In Beantown, the housing market is one of the nation’s most expensive. However, that hasn’t made it slow. Houses get into pending status in an average of 12 days.
Columbus, OH
With just 12 days needed on average to sell a home, this metro area’s housing market is hopping. The number of days has gotten more than 29% lower than before Covid.
Worcester, MA
Worcester is another city that has a 12-day sales period on average. This time has declined by 50% since before Covid.
The Slowest Markets
There are plenty of places that have long periods between listing a home for sale and having a contract on it. Most of these cities are in the South.
Austin, TX
Austin is a growing economy, but it doesn’t seem to have as many buyers as it should. It’s the slowest market in the country for home sales, with a median period of 66 days.
McAllen, TX
Another Texas city that has a slow market is McAllen. It has an average of 53 days for making home sales. This can make the whole experience far more complicated for those looking to sell.
Poughkeepsie, NY
When you put up a home for sale in Poughkeepsie, you’d better have some time on hand before the sale goes through. The average in this northern city is 51 days to get a contract.
San Antonio, TX
Texas cities seem to have a problem with quick sales in the real estate market. In San Antonio, you can expect to wait an average of 49 days to sell your home once it’s listed.
New Orleans, LA
Not a lot of people are moving to New Orleans, and that’s translated into slow home sales. Once you list a home in the Big Easy, you can expect to sell it in an average of 48 days.
Jacksonville, FL
Many people are moving to Florida, just perhaps not to Jacksonville. Selling a home in this metro area will take you an average of 42 days.
Cape Coral, FL
Florida has a lot to offer to home buyers, but it has some slow housing markets. If you want to sell your home in Cape Coral, you can expect to wait about 41 days to make the sale.
Colorado Springs, CO
One of very few slow markets outside the South, this city in Colorado isn’t being taken by storm by home buyers. The average here for a home sale is 41 days.
Deltona, FL
What is it with Florida and slow home sales? In Deltona, you can expect a slow sale if you put your home up for sale. Homes here sell in an average of 39 days.
New York, NY
New York always has plenty of property available, but these days, it doesn’t have as many buyers. The high cost of housing in NYC may be a factor in the average sale time of 37 days.
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