The fastest and slowest moving markets right now.
One aspect of a competitive housing market, sometimes known as a seller’s market, is how long homes that are for sale go under contract. If there are a lot of motivated buyers looking in your neighborhood, a home for sale might get snatched up as soon as it gets listed. On the other hand, a slow-moving market may see homes languish with a for sale sign in the front yard for a while.
In the middle of the spring homebuying season, some markets may see a rush of potential homebuyers, while other see a surplus of homes come on the market for sale. Both buyers and sellers are trying to take advantage of this popular time of year for homebuying. If you’re looking to buy, you may find yourself in a buyer’s market, or a seller’s market. It really depends on where you live.
Fast financing
That’s why it’s so important to start your homebuying journey ready to move fast, particularly if you’re in a buyer’s market. At Guaranteed Rate Affinity, we want to give you every possible advantage to land your dream home. Apply using PowerBid Pre-Approval and show sellers and agents that you’re serious about getting into your new home.
And when paired with our Same Day Mortgage, you’ll have the competitive advantage you need to compete with cash and buy with confidence. In a market that demands it, PowerBid Approval combined with Same Day Mortgage gives you the edge you need to make your dream home a reality – fast.
Moving fast or taking it slow?
Using data sourced from the Realtor.com Economic Team, we analyzed the top 200 housing markets in the nation to find out which markets were the fastest and slowest moving using their February 2024 data. We did this by looking at Median Days on Market, a statistic that shows how long a representative number of homes are for sale before they go under contract.
If you want to learn more about the cities and towns listed here, we’ve included information and insights from the experts at Research by Rate.com.
Where you need to get a move on
According to the National Association of REALTORS® Confidence Index, properties typically remained on the market for 36 days in the first month of 2024, up from 29 days in December and 33 days in January 2023. As you’ll see, these markets are seeing homes sold much quicker than that, showing that if you want to buy a home in one of these 15 areas, you better get pre-approved and prepared to move fast.
1. (tie) San Jose-Sunnyvale-Santa Clara, CA
Median days on market: 23
Change in days on market from January: down 45.8%
Median listing price: $1,366,944
Total homes for sale: 725
Located in in the middle of Silicon Valley, this area around the city of San Jose is known as a tech hub. With many of the most successful companies of the last fifty years calling this area home, it’s known for its affluence and boomtown mentality. With all of its economic success, it’s no wonder that homes are moving quickly here.
1. (tie) Manchester-Nashua, NH
Median days on market: 23
Change in days on market from January: down 47.7%
Median listing price: $572,200
Total homes for sale: 222
The largest city in New Hampshire, the Queen City of New England is home to large hospitals, colleges and universities and the headquarters of nationwide banking systems.
3. Rochester, NY
Median days on market: 24
Change in days on market from January: down 29.3%
Median listing price: $249,950
Total homes for sale: 654
This city in Western New York is home to some major corporations, and boasts a longstanding reputation for science, technology, research and development.
4. San Francisco-Oakland-Berkeley, CA
Median days on market: 29
Change in days on market from January: down 41.2%
Median listing price: $989,444
Total homes for sale: 3,028
The San Francisco Bay Area is home to the same tech boom that fuels much of the housing market demand in San Jose and Santa Clara County, just a few miles south. Not only is it home to strong economy, but the city of San Francisco is the second-most densely populated city in the U.S., behind New York City, so that many people in a concentrated area fuels a robust demand for housing.
5. Worcester, MA-CT
Median days on market: 30
Change in days on market from January: down 33.3%
Median listing price: $499,350
Total homes for sale: 598
Pronounced “wooster", Worcester is about 40 miles west of Boston, the largest city in Massachusetts. It is also one of the top ten emerging hubs for tech startups according to a recent report. Education and the healthcare industry also fuel the economy and push up housing demand.
6. Seattle-Tacoma-Bellevue, WA
Median days on market: 32
Change in days on market from January: down 45.8%
Median listing price: $765,000
Total homes for sale: 3,294
7. (tie) Boston-Cambridge-Newton, MA-NH
Median days on market: 33
Change in days on market from January: down 38.7%
Median listing price: $854,450
Total homes for sale: 3,319
7. (tie) San Diego-Chula Vista-Carlsbad, CA
Median days on market: 33
Change in days on market from January: down 23.3%
Median listing price: $996,500
Total homes for sale: 2,424
9. Denver-Aurora-Lakewood, CO
Median days on market: 35
Change in days on market from January: down 44.8%
Median listing price: $609,625
Total homes for sale: 4,291
10. (tie) Washington-Arlington-Alexandria, DC-VA-MD-WV
Median days on market: 36
Change in days on market from January: down 32.1%
Median listing price: $599,000
Total homes for sale: 5,907
10. (tie) Virginia Beach-Norfolk-Newport News, VA-NC
Median days on market: 36
Change in days on market from January: down 27.3%
Median listing price: $384,504
Total homes for sale: 3,106
10. (tie) Trenton-Princeton, NJ
Median days on market: 36
Change in days on market from January: down 29.4%
Median listing price: $384,500
Total homes for sale: 298
13. (tie) Minneapolis-St. Paul-Bloomington, MN-WI
Median days on market: 37
Change in days on market from January: down 34.5%
Median listing price: $434,400
Total homes for sale: 4,893
13. (tie) Milwaukee-Waukesha, WI
Median days on market: 37
Change in days on market from January: down 18.7%
Median listing price: $353,950
Total homes for sale: 1,950
13. (tie) Stockton, CA
Median days on market: 37
Change in days on market from January: down 30.8%
Median listing price: $549,500
Total homes for sale: 613
Where you can take your time
Many of the markets that see homes staying on the market for longer periods of time are located in the South. That these markets can see homes stay on the market up to twice as long as the national average gives homebuyers a chance to be more considerate about their home shopping. They don’t have to jump on the first home that checks most of their boxes.
1. Lafayette, LA
Median days on market: 90
Change in days on market from January: up 5.3%
Median listing price: $260,000
Total homes for sale: 1,183
Named after the famous Revolutionary War hero, Marquis de Lafayette, this hub in the middle of Louisiana is a major technology, health care and aerospace center.
2. (tie) Baton Rouge, LA
Median days on market: 87
Change in days on market from January: down 3.9%
Median listing price: $299,450
Total homes for sale: 2,373
The capitol of Louisiana, Baton Rouge is situated on the Mississippi River and the river fueled its early development as a port city. Now it’s known for industrial, petrochemical and medical growth.
2. (tie) Crestview-Fort Walton Beach-Destin, FL
Median days on market: 87
Change in days on market from January: 0%
Median listing price: $642,350
Total homes for sale: 3,476
This area in Florida’s panhandle is a tourist haven known for beautiful white beaches and is a fishing destination.
4. Prescott Valley-Prescott, AZ
Median days on market: 85
Change in days on market from January: down 3.7%
Median listing price: $647,100
Total homes for sale: 1,098
Located in central Arizona, Prescott and its surrounding towns make up what is called the “Quad City” area. Known as a “wild west” town, Prescott has a history as a gold and silver mining town, with former residents including Doc Holliday and Wyatt Earp, and now it is a tourist destination.
5. Asheville, NC
Median days on market: 84
Change in days on market from January: up 1.8%
Median listing price: $547,000
Total homes for sale: 1,022
The Western North Carolinian city of Asheville is home to one of the most famous homes in America, the Biltmore Estate. It is located in the Blue Ridge mountains and is known as a tourist destination due to its outdoor activities and musical entertainment.
6. (tie) New Orleans-Metairie, LA
Median days on market: 83
Change in days on market from January: down 0.9%
Median listing price: $325,000
Total homes for sale: 4,348
6. (tie) Duluth, MN-WI
Median days on market: 83
Change in days on market from January: up 2.8%
Median listing price: $265,925
Total homes for sale: 376
6. (tie) Waco, TX
Median days on market: 83
Change in days on market from January: up 2.2%
Median listing price: $345,000
Total homes for sale: 858
9. Daphne-Fairhope-Foley, AL
Median days on market: 82
Change in days on market from January: down 5.8%
Median listing price: $525,000
Total homes for sale: 2,237
10. (tie) Syracuse, NY
Median days on market: 79
Change in days on market from January: up 9.3%
Median listing price: $252,450
Total homes for sale: 519
10. (tie) Brownsville-Harlingen, TX
Median days on market: 79
Change in days on market from January: 0%
Median listing price: $304,900
Total homes for sale: 1,273
10. (tie) Utica-Rome, NY
Median days on market: 79
Change in days on market from January: up 4.0%
Median listing price: $238,250
Total homes for sale: 328
13. (tie) Green Bay, WI
Median days on market: 78
Change in days on market from January: down 4.3%
Median listing price: $448,175
Total homes for sale: 357
13. (tie) Longview, TX
Median days on market: 78
Change in days on market from January: up 1.3%
Median listing price: $299,900
Total homes for sale: 757
13. (tie) Fort Smith, AR-OK
Median days on market: 78
Change in days on market from January: down 7.9%
Median listing price: $250,950
Total homes for sale: 678
Making the most of your market
No matter the area you’re looking for a home, you need to be prepared for anything. And working with a local expert, like your Guaranteed Rate Affinity loan officer, will help you navigate the elements unique to your market.
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