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How Long Can You Expect Your Home to Sit on the Market?

June 21, 2011

The average time a home sits on the market is decreasing. The median age of inventory on the market has shrank this last month to 92 days. This means that on average, a home that goes on the market will take 3 months to sell. However, in some markets homes are being bought much faster. Denver is one great example where things have kept ahead of the nation and has a 39 turn over rate.

Here’s a look at the fastest-selling markets from May, based on the median age of inventory of 146 markets tracked by Realtor.com.

Denver
Median age of inventory: 39
Median list price: $253,700

Oakland, Calif.
Median age of inventory: 46
Median list price: $320,000

Tampa-St. Petersburg-Clearwater, Fla.
Median age of inventory: 51
Median list price: $134,900

San Francisco
Median age of inventory: 57
Median list price: $628,000

Washington, D.C.-Md.-Va.-W.Va.
Median age of inventory: 60
Median list price: $369,999

Bakersfield, Calif.
Median age of inventory: 60
Median list price: $134,900

Rochester, N.Y.
Median age of inventory: 61
Median list price: $139,900

Omaha, Neb.
Median age of inventory: 61
Median list price: $150,000

Anchorage, Alaska
Median age of inventory: 61
Median list price: $289,000

Fresno, Calif.
Median age of inventory: 61
Median list price: $151,900

San Jose, Calif.
Median age of inventory: 61
Median list price: $479,000

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