February 2016 has proven to be a lucrative month for both home buyers and sellers. The number of available houses for sale on the market has increased only slightly as buyers’ demands for homes continue to reach peaks unheard of only a year ago. Housing prices are also higher than they were a year ago, with the average asking price standing at $230,000.
Homes currently on the market are moving faster than they did a year ago. Reports show that homes for sale today only stay on the market an average of 96 days, although in some markets across the country homes are selling in as few as 48 days after they are listed.
Among today’s real estate markets, twenty stand out as being the hottest in the U.S. The top 20 hottest real estate markets today include San Francisco, which has topped the list for the past four months. Joining San Francisco are San Jose, CA; Dallas, TX; Denver, CO; Vallejo, CA; San Diego, CA; Santa Cruz, CA; Santa Rosa, CA; Stockton, CA; and Oxnard, CA to finish out the top 10.
The top 10 through 20 hottest real estate markets are: Sacramento, CA; Los Angeles, CA; Boulder, CO; Modesto, CA; Eureka, CA; Portland, OR; Nashville, TN; Colorado Springs, CO; Palm Bay, FL; and Tampa, FL. The houses in these top 20 markets stay listed for sale anywhere from 44 to 78 days. This listing rate is a seven percent drop from what it was a year ago.