Homes have spent fewer and fewer days on the market over the past five years.
In summer 2021 — peak season for residential real estate activity — the typical home in the U.S. sold in just 36 days, according to data from the St. Louis Federal Reserve Bank. The typical home took twice as long to sell in summer 2017. In November, the median number of days a home spent on the market was 37, about two weeks slower compared to the year before.
At a local level, a property that sits on the market for longer than the median length of time could signal to would-be-buyers that there is something undesirable about the listing. When homes sell faster it can also be a sign that any given market is less buyer-friendly.
Stacker compiled a list of metros where homes are selling the fastest using data from Redfin. Metros are ranked by the least days listed for sale for the month of November and ties are broken by the highest November home sales. Metros with over 300 home sales in November were included.