Friday, February 27, 2009

Housing markets with short selling times

By Lauren Baier Kim (Cyberomes.com):

With an inventory of U.S. homes for sale at a staggering 9.6-month supply in January (meaning it would take more than nine months to sell all the homes listed for sale), selling a house these days can be a test of patience. But, looking over our data for January, Cyberhomes found a number of places with relatively short periods of time between a home's listing and its sale. The below locales represent the top 10 in terms of short selling time, all with selling times ("days on market") of less then two months:

City or county Median price Days on market
Henrico County, Va. $263,975 34
Pasquotank County, N.C. $198,000 38
Nash County, N.C. $152,380 49
Wilson, N.C. $150,000 49
Cleveland, Okla. $152,900 50
Walworth, Wisc. $264,900 50
Richmond City, Va. $209,000 52
Chesterfield County, Va. $259,000 54
Hanover County, Va. $327,975 54
Newport News, Va. $199,900 54

Notable standouts are Virginia -- which boasts five of the top 10 spots -- and North Carolina, which has three. Most of the locales boast relatively low median prices, which are below or just above the January's national median price of $170,300.

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