Amid strong demand and tight supply, REALTORS® reported that properties that sold in February 2018 were typically on the market for 37 days, down from 45 days compared to the same month last year, according to the  February 2018 REALTORS® Confidence Index Survey.[1] The median days on market have been broadly on a downtrend since 2011 when the properties typically were on the market for three months from May 2011, when this question was first asked in the RCI Survey, through March 2012.

During the December 2017–February 2018, properties typically sold within one month in Washington, California, Nevada, Utah, Colorado, Nebraska, Minnesota, Michigan, Kentucky, New Hampshire, Massachusetts, and the District of Columbia.

 

Amid fewer listings for sale in many areas, properties continued to sell at a faster pace in many metro areas, based on the days listed on Realtor.com. Properties sold most quickly in California, Washington, and Colorado, particularly in the metro areas of San Jose-Sunnyvale-Sta.Clara, CA (18 days), San Francisco-Oakland-Hayward, CA (21 days), Seattle-Tacoma-Bellevue (29 days), Los Angeles, CA (33 days), San Diego-Carlsbad (33 days), Sta. Rosa (33 days), Vallejo-Fairfield (33 days), and Denver-Aurora-Lakewood (34 days).

 

Use the data visualization below to see how listing prices and days on market are trending in your state based on Realtor.com data.[1]

Dashboard 2

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[1] To access Realtor.com data, go to https://www.realtor.com/research/data/.

[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.