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U.S. real estate markets are strong right now, but a handful of cities are on fire, with rapidly rising home prices and short sale windows.
A new report by GoBankingRates ranks America's 30 hottest housing markets by the average number of days a home stays on the market, based on Zillow data from 2017 and 2018.
Researchers - Home - Prices - Dynamics - City
Researchers said that rising home prices tend to reflect shifting dynamics in a city – often signalling growing employment, rising wages or other factors. However some markets can get 'overheated' – when list prices significantly exceed median home values.
A cluster (eight) of those super-hot markets are in California, and many more are in the American West and Southwest.
Scroll - List
Scroll down for the full list
Sunnyvale, California had the hottest market in America, with the average home selling in 38 days and a median list price of $1.5 million – the highest of any market on the list. The Silicon Valley community has seen home prices soar 23.7 percent in two years.
San - Jose - California - Homes - Market
San Jose, California ranked second, with homes sitting on the market a short 42 days, on average. The median list price for homes in the Bay Area community is $929,000, with home prices rising 24.7 percent since the beginning of 2017.
Fremont, California – nestled between Silicon Valley and San Francisco – has a 43 day average window for houses to sit on the market before selling. The median listing price is just over $1 million.
San - Francisco - Day - Window - Sales
San Francisco follows, also with a 43 day window on sales. The city is one of three on the list with a median home price above $1 million ($1.2 million).
Oakland, California, ranked fifth on the list, with median list prices of $650,000 on homes that sell in an average of 44 days.
Seattle - City - California - List - Homes
Seattle is the first city outside of California on the list. Homes...
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