Home Sales Increase In … September?
So much for home sales slowing down in September.
Realtor.com reported Thursday that homes sold faster in September than in August for the first time in four years, as buyers are paying about $20,000 more for a typical home and face 25 percent more competition than at the start of 2020.
The September monthly housing trends report by realtor.com also found:
- The number of homes on the market is down 39 percent year-over-year in September equating to 529,000 fewer home listings.
- Homes sold 12 days faster than last year and three days faster than last month.
- Median home price was $350,000, up 11.1 percent over last year.
“Many buyers tend to put their home search on hold after the start of the school year, but remote learning and the desire for more space continued to fuel buyer interest in September,” said Danielle Hale, chief economist, realtor.com. “Unseasonably high buyer interest coupled with historically low inventory and favorable mortgage rates are creating a perfect storm in the housing market. While this is good news for anyone looking to sell their home, it has created tremendous competition among buyers.”
Here is a look at the market across the country:
Metro | Median Listing Price YoY | Median Listing Price | Median Days Market YoY | Median Days on Market | Active Listing Count YoY |
Cincinnati, Ohio-Ky.-Ind. | 16.9% | $318,000 | -11 | 39 | -46.6% |
Boston-Cambridge-Newton, Mass.-N.H. | 16.4% | $677,000 | -18 | 34 | -33.4% |
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | 15.6% | $344,000 | -20 | 43 | -42.6% |
Indianapolis-Carmel-Anderson, Ind. | 15.2% | $286,000 | -10 | 46 | -58.5% |
Buffalo-Cheektowaga-Niagara Falls, N.Y. | 15.0% | $230,000 | 0 | 43 | -43.3% |
Austin-Round Rock, Texas | 14.8% | $408,000 | -15 | 45 | -47.9% |
Riverside-San Bernardino-Ontario, Calif. | 14.0% | $468,000 | -15 | 41 | -55.6% |
New York-Newark-Jersey City, N.Y.-N.J.-Pa. | 13.5% | $625,000 | -13 | 58 | -10.3% |
Kansas City, Mo.-Kan. | 13.2% | $340,000 | -5 | 49 | -50.3% |
Detroit-Warren-Dearborn, Mich | 12.8% | $273,000 | -8 | 38 | -45.9% |
New Orleans-Metairie, La. | 12.3% | $325,000 | -10 | 64 | -38.5% |
Memphis, Tenn.-Miss.-Ark. | 11.3% | $262,000 | -12 | 47 | -52.0% |
Richmond, Va. | 10.9% | $355,000 | -8 | 48 | -46.0% |
St. Louis, Mo.-Ill. | 10.9% | $250,000 | -8 | 58 | -39.1% |
San Francisco-Oakland-Hayward, Calif. | 10.8% | $1,037,000 | 3 | 35 | -12.1% |
Atlanta-Sandy Springs-Roswell, Ga. | 10.3% | $355,000 | -11 | 45 | -45.5% |
Sacramento–Roseville–Arden-Arcade, Calif. | 10.1% | $544,000 | -10 | 35 | -51.2% |
Virginia Beach-Norfolk-Newport News, Va.-N.C. | 10.0% | $330,000 | -22 | 39 | -45.5% |
Providence-Warwick, R.I.-Mass. | 9.3% | $412,000 | -14 | 41 | -53.2% |
Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. | 9.1% | $519,000 | -16 | 28 | -40.4% |
Cleveland-Elyria, Ohio | 9.1% | $216,000 | -10 | 49 | -50.6% |
Milwaukee-Waukesha-West Allis, Wis. | 8.8% | $326,000 | -4 | 41 | -42.5% |
Chicago-Naperville-Elgin, Ill.-Ind.-Wis. | 8.3% | $349,000 | -7 | 42 | -34.4% |
Charlotte-Concord-Gastonia, N.C.-S.C. | 8.3% | $368,000 | -14 | 42 | -47.9% |
Las Vegas-Henderson-Paradise, Nev. | 7.8% | $345,000 | -10 | 39 | -7.8% |
Hartford-West Hartford-East Hartford, Conn. | 7.5% | $300,000 | -22 | 43 | -31.8% |
Oklahoma City, Okla. | 7.4% | $269,000 | -2 | 50 | -39.2% |
Portland-Vancouver-Hillsboro, Ore.-Wash. | 7.4% | $505,000 | -6 | 44 | -44.8% |
Tampa-St. Petersburg-Clearwater, Fla. | 7.2% | $300,000 | -10 | 50 | -43.5% |
Nashville-Davidson–Murfreesboro–Franklin, Tenn. | 7.2% | $400,000 | -5 | 32 | -40.5% |
San Diego-Carlsbad, Calif. | 7.1% | $776,000 | -7 | 35 | -42.9% |
Houston-The Woodlands-Sugar Land, Texas | 7.0% | $332,000 | -7 | 52 | -32.6% |
Birmingham-Hoover, Ala. | 6.9% | $271,000 | -12 | 52 | -38.1% |
Rochester, N.Y. | 6.7% | $223,000 | -14 | 29 | -40.9% |
San Antonio-New Braunfels, Texas | 6.6% | $309,000 | -15 | 52 | -44.5% |
Phoenix-Mesa-Scottsdale, Ariz. | 6.4% | $414,000 | -8 | 37 | -40.9% |
San Jose-Sunnyvale-Santa Clara, Calif. | 5.5% | $1,199,000 | -7 | 35 | -24.9% |
Raleigh, N.C. | 5.5% | $391,000 | -9 | 48 | -44.4% |
Denver-Aurora-Lakewood, Colo. | 5.0% | $522,000 | -7 | 36 | -40.0% |
Seattle-Tacoma-Bellevue, Wash. | 4.8% | $628,000 | -8 | 35 | -25.9% |
Columbus, Ohio | 4.7% | $300,000 | -13 | 31 | -47.2% |
Dallas-Fort Worth-Arlington, Texas | 4.5% | $360,000 | -10 | 46 | -43.9% |
Minneapolis-St. Paul-Bloomington, Minn.-Wis. | 4.3% | $355,000 | -7 | 36 | -31.9% |
Jacksonville, Fla. | 4.1% | $323,000 | -12 | 59 | -43.0% |
Baltimore-Columbia-Towson, Md. | 3.2% | $340,000 | -20 | 35 | -51.5% |
Louisville/Jefferson County, Ky.-Ind. | 2.9% | $268,000 | -11 | 35 | -48.9% |
Miami-Fort Lauderdale-West Palm Beach, Fla. | 2.5% | $410,000 | -6 | 93 | -14.0% |
Orlando-Kissimmee-Sanford, Fla. | 1.5% | $325,000 | -8 | 58 | -19.1% |
Pittsburgh, Pa. | N/A* | $250,000 | -10 | 54 | -35.0% |
Los Angeles-Long Beach-Anaheim, Calif. | N/A* | $995,000 | N/A* | 49 | -28.6% |