As we’ve previously noted on this blog, now is a great time to buy a house. It seems like some consumers have caught on in these cities listed by Yahoo Real Estate as the US Cities where homes sell the fastest.
Photo Credit: Crabtree13
Santa Rosa, CA garners the title of city with fifth fastest home sales with a median sell-time of 99 days. The city’s Zillow Home Value Index is $316,400 although 32% of the home listings come with price cuts, and buyers normally get a 2% discount from list price.
Honolulu came in at #4 with a Zillow Home Value index of $484,300 and a median sell time of 92 days.
However, fun in the sun doesn’t come cheap: only 21% of listings came with price cuts.
San Francisco, CA chimes in at #3. It’s no surprise that home buyers are flocking to the city where property sells within a median of 83 days.
Considering that like NYC, property values in SF are only expected to increase, it’s a city worth the investment.
San Jose, CA has the second fastest sales with a median sell time of 81 days. Silicon Valley is still attracting investors and workers, so it’s no surprise that people are scrambling to buy property there. Granted, homes are going to run a little more expensive with a median price of $545,000.
Photo Credit: Michael
And the city with the fastest selling homes in the U.S. is….drumroll, please…Midland, TX. Homes generally sell within 71 days, and at such a low median price – $154,400 – why wouldn’t they?
Photo Credit: Ahodges7
What about your area? Are homes selling fast there? Where do you think would be a good place to invest in real estate now?