24/7 Wall St.'s Paul Ausick shares the 20 hottest U.S. home markets this September, or the medium-to-large cities where homes are selling most quickly as buyers are anxious to buy.
The top five markets are located in San Francisco, Vallejo, Calif., Denver, Dallas, and San Diego, Calif. Preliminary estimates from Realtor.com determined that overall, the median price for a home in September was equal to the August median of $250,000, but that is up 9% year-over-year and is a record high for the month.
Homes for sale remained on the market a median of 77 days, three days less than a year ago, and nine days slower than in August. With fewer homes coming on the market now and keeping the supply down, buyers have fewer options in a market that already has been pretty tight. Jonathan Smoke, Realtor.com’s chief economist, noted, “The fundamental trends we have been seeing all year remain solidly in place as we enter the slower time of the year.”