Home Sales Velocity: Uncovering the Locales Where Properties Vanish Fastest

In the dynamic world of real estate, understanding the speed at which homes sell is crucial for both buyers and sellers. This metric, often measured by the median days on market (DOM), provides valuable insights into market demand and overall health. Let's delve into the data to uncover the locales where properties are selling the quickest.

Analyzing Key Markets

Our analysis focuses on several key cities, each presenting a unique snapshot of the current real estate landscape. We'll examine median sale prices, the number of homes sold, inventory levels, and, most importantly, the median days on market.

Nashville: A Tale of Two Markets

Interestingly, the data reveals two distinct 'Nashville' markets, each with vastly different characteristics. In Nashville, GA, the median sale price is $281,088, with homes selling in a swift 12 days. This contrasts sharply with Nashville, TX, where the median sale price jumps to $669,185, and homes stay on the market for a longer period of 52 days. The Nashville, GA market also shows 874 homes sold, while Nashville, TX shows 718 homes sold.

Phoenix: A Balanced Market

Phoenix, AZ, presents a more balanced scenario. The median sale price is $348,248, and homes are on the market for a median of 41 days. With 253 homes sold and an inventory of 2168, Phoenix showcases a market where demand and supply are relatively aligned.

Portland: Affordability and Inventory

Portland, OR, stands out with a relatively lower median sale price of $228,426. However, homes in Portland stay on the market for 45 days. The city has 517 homes sold and an inventory of 721, suggesting a market with more options for buyers.

Seattle: High Demand, Low Inventory

Seattle, AZ, exhibits a high-demand, low-inventory environment. The median sale price is $558,194, and homes sell quickly, with a median of just 26 days on the market. The city has 768 homes sold, but a relatively low inventory of 334, indicating strong competition among buyers.

Comparative Analysis: Days on Market

To better visualize the differences in sales velocity, let's compare the median days on market across these cities:

City	State	Median Days on Market
Nashville	GA	12
Nashville	TX	52
Phoenix	AZ	41
Portland	OR	45
Seattle	AZ	26

As the table illustrates, Nashville, GA, boasts the shortest median days on market at just 12 days, indicating a very hot market. Seattle, AZ, follows closely with 26 days, while Nashville, TX, has the longest at 52 days.

Exploring Additional Markets

Expanding our analysis, we can examine other key markets to gain a broader perspective on home sales velocity.

Charlotte: A Competitive Market

Charlotte, WA, presents a competitive market with a median sale price of $653,830 and homes selling in just 29 days. The city has 689 homes sold and an inventory of 773, suggesting a balanced but fast-moving market.

Miami: High Prices, Longer Sales Cycles

Miami, GA, features a high median sale price of $528,454, but homes stay on the market for a longer period of 68 days. With 469 homes sold and a substantial inventory of 2028, Miami offers buyers more choices but a slower sales pace.

Houston: High Volume, Moderate Velocity

Houston, CO, showcases a high volume of sales with 1040 homes sold. The median sale price is $656,919, and homes are on the market for 30 days. The city has a relatively low inventory of 224, indicating strong demand.

Atlanta: A Growing Market

Atlanta, CA, has a median sale price of $308,174, and homes stay on the market for 52 days. The city has 791 homes sold and an inventory of 1665, suggesting a growing market with increasing opportunities.

Comparative Analysis: Homes Sold

Let's compare the number of homes sold across these additional cities:

City	State	Homes Sold
Charlotte	WA	689
Miami	GA	469
Houston	CO	1040
Atlanta	CA	791

Conclusion

Understanding home sales velocity is essential for navigating the real estate market. Cities like Nashville, GA, and Seattle, AZ, demonstrate high demand and quick sales cycles, while others, such as Miami, GA, offer a more relaxed pace. By analyzing these metrics, buyers and sellers can make informed decisions and optimize their real estate strategies.