Listing prices for residential homes remained near record highs in October, according to a preliminary analysis by realtor.com®. The median list price nationwide was $274,000, near the $275,000 record set in June.
One point of relief for “market-fatigued buyers” who’ve faced low inventories for the past few years is that supplies of new listings are up slightly from a year ago, says Danielle Hale, realtor.com®’s chief economist. By the end of October, about 420,000 new listings will have hit the market over the entire month, realtor.com® predicts.
Some housing markets are more lively than others, with California continuing to see some of the most activity. Realtor.com® released its “hottest market” list for October, which is based on how quickly homes are selling and the amount of clicks cities receive on listings at realtor.com®.
The top 20 performing markets in October are:
- San Jose, Calif.
- Vallejo, Calif.
- San Francisco
- San Diego
- Boston
- Stockton, Calif.
- Sacramento, Calif.
- Detroit
- Denver
- Modesto, Calif.
- Columbus, Ohio
- Fresno, Calif.
- Dallas
- Nashville, Tenn.
- Colorado Springs, Colo.
- Midland, Texas
- Rochester, N.Y.
- Oxnard, Calif.
- Santa Cruz, Calif.
- Janesville, Wis.
Source: “Tight Inventory Drives High Prices, Quick Sales in the Nation’s Hottest Markets,” realtor.com® (Oct. 27, 2017)
