If you’ve seen a “For Sale” sign outside a home these days, there’s a good chance it won’t last long. That’s because homes are selling faster than ever in Atlanta and across the nation.
A new report from Zillow says that homes sold at the fastest pace on record in 2017. It took 81 days to sell the average home in the United States last year. That’s nine days faster than the previous year. Quick home sales in Atlanta were among the top in the nation, according to Zillow.
Quick-Selling Home Market Heating Up In Atlanta: Zillow
The quickest-selling month was June 2017, according to Zillow, when homes sold and closed all in the span of 73 days. In Atlanta that month, the average home sold in just 71 days.
“As demand has outpaced supply in the housing market over the past three years, buying a home has become an exercise in speed and agility,” said Zillow® Senior Economist Aaron Terrazas. “This is shaping up to be another competitive home shopping season for buyers, who may have to linger on the market until they find the right home but then sprint across the finish line once they do. Being prepared – working with a great agent, getting financing preapproved – can help a buyer make a stand-out offer.”
It remains a sellers market for 2018 as inventory has fallen for 37 straight months, Zillow said.
The fastest-selling market in 2017 was San Jose, Calif., where the typical home sold in 41 days. San Jose also experienced the biggest drop in inventory over the past year, with 26.8 percent fewer homes to choose from than a year earlier. Homes in San Jose sold fastest last year in October, with a span of just 39 days from listing to closing.
|
Metropolitan Area |
2017 Average Days on Zillow |
Fastest-Selling Month |
Days on Zillow During Fastest-Selling Month |
|
United States |
81 |
June 2017 |
73 |
|
New York / Northern New Jersey |
134 |
July 2017 |
122 |
|
Los Angeles, CA |
64 |
May 2017 |
59 |
|
Chicago, IL |
91 |
June 2017 |
82 |
|
Dallas, TX |
55 |
May/June 2017 |
49 |
|
Philadelphia, PA |
97 |
June 2017 |
89 |
|
Houston, TX |
81 |
April/May 2015 |
65 |
|
Washington, DC |
75 |
May 2017 |
64 |
|
Miami, FL |
110 |
June 2015 |
97 |
|
Atlanta, GA |
71 |
June 2017 |
63 |
|
Boston, MA |
72 |
June 2017 |
67 |
|
San Francisco, CA |
43 |
April/May 2017 |
41 |
|
Detroit, MI |
73 |
June 2017 |
65 |
|
Riverside, CA |
74 |
June 2017 |
68 |
|
Phoenix, AZ |
66 |
October 2017 |
62 |
|
Seattle, WA |
47 |
May/June 2017 |
42 |
|
Minneapolis, MN |
69 |
May 2017 |
63 |
|
San Diego, CA |
56 |
May 2017 |
52 |
|
Saint Louis, MO |
74 |
July 2017 |
67 |
|
Tampa, FL |
81 |
July/August 2017 |
77 |
|
Baltimore, MD |
94 |
June 2017 |
82 |
|
Denver, CO |
52 |
June 2017 |
47 |
|
Pittsburgh, PA |
95 |
July 2017 |
83 |
|
Portland, OR |
60 |
May 2017 |
51 |
|
Charlotte, NC |
67 |
August 2017 |
61 |
|
Sacramento, CA |
54 |
May/June 2017 |
44 |
|
San Antonio, TX |
73 |
June 2017 |
66 |
|
Orlando, FL |
86 |
July 2017 |
78 |
|
Cincinnati, OH |
74 |
July 2017 |
68 |
|
Cleveland, OH |
80 |
July 2017 |
71 |
|
Kansas City, MO |
62 |
July/August 2017 |
58 |
|
Las Vegas, NV |
62 |
August/September 2017 |
58 |
|
Columbus, OH |
63 |
July 2017 |
57 |
|
Indianapolis, IN |
73 |
August 2017 |
66 |
|
San Jose, CA |
41 |
October/November 2017 |
39 |
|
Austin, TX |
61 |
May 2017 |
53 |
Zillow
Here are more articles from AtlantaFi.com you might like: