Decoding Days on the Listing: Unveiling Property Hotspots Across the Nation

In the dynamic world of real estate, understanding market velocity is crucial for both buyers and sellers. One key indicator of this velocity is the median days on market (DOM), which reflects how quickly properties are selling in a given area. This blog post delves into the DOM across various cities, revealing potential hotspots and offering insights into local market conditions.

Days on Market: A Tale of Two Cities (and More)

Let's start by comparing a few key markets. In Phoenix, FL, homes are selling remarkably fast, with a median DOM of just 15 days. This suggests a highly competitive market where demand is outpacing supply. Contrast this with Raleigh, CO, where the median DOM is significantly higher at 63 days. This longer selling time could indicate a more balanced market or potentially an oversupply of homes.

The median sale price in Phoenix, FL is $220,551, while in Raleigh, CO, it's $532,501. This price difference, coupled with the DOM disparity, paints a picture of two very different real estate landscapes.

Regional Hotspots: A Closer Look

Moving further north, we examine Seattle, AZ, where the median DOM is 27 days. This is a moderate figure, suggesting a healthy but not frenzied market. The median sale price in Seattle, AZ is $424,605, reflecting the desirability of the area.

Consider also Charlotte, AZ, where homes are selling in a median of just 16 days. This quick turnover, combined with a median sale price of $244,478, suggests a strong seller's market in that region. The number of homes sold in Charlotte, AZ is 237, which is lower than other cities in the dataset, potentially contributing to the faster DOM.

The Florida Factor: High Demand, Quick Sales

Florida continues to be a hotbed for real estate activity. In Miami, NC, the median DOM is 36 days, and the median sale price is $357,032. The number of homes sold in Miami, NC is 1005, indicating a high volume of transactions. Tampa, WA, shows an even faster pace, with a median DOM of 19 days and a significantly higher median sale price of $691,930. The inventory in Tampa, WA is only 208, which is the lowest in the dataset, likely contributing to the quick sales.

Contrasting Markets: Portland vs. San Antonio

Let's compare Portland, OR, and San Antonio, GA. Portland, OR, has a median DOM of 30 days and a median sale price of $273,273. The number of homes sold in Portland, OR is 687. In contrast, San Antonio, GA, has a median DOM of 36 days and a median sale price of $491,299. San Antonio, GA also has a higher number of homes sold at 1088, but a lower inventory of 794 compared to Portland, OR's inventory of 2036.

Denver and Tampa: A Comparative Analysis

Denver, AZ, presents an interesting case with a median DOM of 22 days and a median sale price of $359,335. The number of homes sold in Denver, AZ is 529. Comparing this to Tampa, TN, we see a higher median sale price of $481,324 and a longer median DOM of 43 days. The number of homes sold in Tampa, TN is 562, and the inventory is 1077. This suggests that while Tampa, TN, homes are more expensive, they are taking longer to sell compared to Denver, AZ.

Data-Driven Insights: Key Takeaways

The data clearly shows significant variations in DOM across different cities. Cities like Phoenix, FL, and Charlotte, AZ, are experiencing rapid sales, indicating strong demand and potentially limited inventory. On the other hand, cities like Raleigh, CO, have longer DOM, suggesting a more balanced market or potential challenges in selling properties quickly.

Understanding these trends is crucial for making informed decisions in the real estate market. Whether you're a buyer looking for a competitive edge or a seller aiming to price your property effectively, analyzing DOM data can provide valuable insights into local market dynamics.

Table: Days on Market and Median Prices Across Cities

City	State	Median Price	Homes Sold	Inventory	Days on Market
Denver	AZ	$359,335	529	1656	22 days
Tampa	TN	$481,324	562	1077	43 days
Seattle	AZ	$424,605	560	2068	27 days
Portland	OR	$273,273	687	2036	30 days
Charlotte	AZ	$244,478	237	329	16 days
San Antonio	GA	$491,299	1088	794	36 days
Raleigh	CO	$532,501	723	621	63 days
Miami	NC	$357,032	1005	927	36 days
Tampa	WA	$691,930	675	208	19 days
Phoenix	FL	$220,551	461	499	15 days