The 11 Markets Where Homes Sell Fastest
Realtor.com released a list of metros with the lowest median age of inventory at the site -- a measurement of how long a property from a given metro area typically spends on the site.
Denver, which topped the list in June, once again had the lowest median age of inventory among metros, at a median 32 days. That's a 38.5 percent drop in the median year-over-year -- the biggest drop among the 11 most active markets. (See homes for sale in Denver.)
Six California metros made the list, with Oakland the fastest-moving among the six. Oakland's median age of inventory was 46 days. (See homes for sale in Oakland.)
The six metros include a mix of markets hit hard by foreclosures -- Fresno, Bakersfield, Stockton-Lodi -- and relatively high-cost metros in the San Francisco Bay Area -- Oakland, San Jose and San Francisco. (See homes for sale in San Francisco.)
Florida markets dominated a list of metros with the slowest-moving real estate. Naples, Fla., posted the highest median age of inventory, 153 days -- a 5.5 percent rise from July 2010. (See homes for sale in Naples.)
While seven of the 11 fastest-moving markets saw their median age of inventory drop year-over-year in July, eight of the 10 slowest markets saw their median rise year-over-year.
For the full list of the fastest-selling markets, see Inman News.
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