Fast Lane: Cities With the Quickest Sales Cycles and Highest Turnover Rates
In the world of real estate, certain cities stand out for their quick sales cycles and high turnover rates. In this article, we'll delve into the data and explore the cities that lead the pack.
San Francisco, CA: Median Sale Price of $1,455,000 and 20 Days on Market
San Francisco, CA, is one of the cities with the quickest sales cycles and highest turnover rates. With a median sale price of $1,455,000, homes in San Francisco typically stay on the market for just 20 days. This is significantly faster than cities like Los Angeles, CA, which takes an average of 43 days to sell properties. When comparing to San Diego, CA, which has a median price of $990,000, we can see a difference of $465,000.
According to the data, cities with high occupancy rates like San Francisco tend to have faster sales cycles, as seen in the chart below.
| Cities |
Median Sale Price |
Days on Market |
| San Francisco, CA |
$1,455,000 |
20 days |
| San Diego, CA |
$990,000 |
21 days |
| Los Angeles, CA |
$708,500 |
43 days |
Sturgis, SD: Median Sale Price of $369,375,000 and 200 Days on Market
On the other end of the spectrum, Sturgis, SD, has a median sale price of $369,375,000 and an average of 200 days on the market. This is significantly slower than San Francisco's 20 days. However, it's essential to consider factors like home sales velocity when analyzing cities with slower sales cycles.
Indian Creek, FL: Median Sale Price of $79,000,000 and 141 Days on Market
Indian Creek, FL, has a median sale price of $79,000,000 and an average of 141 days on the market. This is slower than San Francisco but faster than Sturgis. It's worth noting that cities with high median prices often have slower sales cycles due to the higher price points.
Jupiter Island, FL: Median Sale Price of $16,000,000 and 103 Days on Market
Jupiter Island, FL, has a median sale price of $16,000,000 and an average of 103 days on the market. This is slower than San Francisco but faster than Indian Creek. It's essential to consider factors like booming US cities when analyzing cities with rising median prices.
Sagaponack, NY: Median Sale Price of $15,500,000 and 82 Days on Market
Sagaponack, NY, has a median sale price of $15,500,000 and an average of 82 days on the market. This is slower than San Francisco but faster than Jupiter Island. It's worth noting that cities with high median prices often have slower sales cycles due to the higher price points.
Sullivan's Island, SC: Median Sale Price of $13,500,000 and 5 Days on Market
Sullivan's Island, SC, has a median sale price of $13,500,000 and an average of 5 days on the market. This is significantly faster than San Francisco and other cities on this list. It's essential to consider factors like home sales velocity when analyzing cities with high turnover rates.
Hunts Point, WA: Median Sale Price of $12,500,000 and 152 Days on Market
Hunts Point, WA, has a median sale price of $12,500,000 and an average of 152 days on the market. This is slower than San Francisco but faster than Sturgis. It's worth noting that cities with high median prices often have slower sales cycles due to the higher price points.
Crystal Bay, NV: Median Sale Price of $11,800,000 and 190 Days on Market
Crystal Bay, NV, has a median sale price of $11,800,000 and an average of 190 days on the market. This is slower than San Francisco but faster than Indian Creek. It's essential to consider factors like high-occupancy lodging markets when analyzing cities with rising median prices.
Watch Hill, RI: Median Sale Price of $11,750,000 and 182 Days on Market
Watch Hill, RI, has a median sale price of $11,750,000 and an average of 182 days on the market. This is slower than San Francisco but faster than Crystal Bay. It's worth noting that cities with high median prices often have slower sales cycles due to the higher price points.
Fort Wingate, NM: Median Sale Price of $11,000,000 and 515 Days on Market
Fort Wingate, NM, has a median sale price of $11,000,000 and an average of 515 days on the market. This is significantly slower than San Francisco and other cities on this list. It's essential to consider factors like short-term rentals when analyzing cities with slow sales cycles.
