ZipRealty Names the Fastest-Moving Housing Markets at Mid-Year

ZipRealty just released new data analyzing the fastest-moving housing markets, and new research on how consumers might increase their chances of buying a home in these competitive markets. The median days on market in these metros remained relatively steady at 29 days, compared to 27 days as of June 30, 2013. The fastest-moving markets at the end of the second quarter were:

1)     Austin – 10 days

2)     Washington, D.C./Northern Virginia – 14 days

3)     Dallas, Portland and Denver – 15 days

4)     Houston and Seattle – 17 days

5)     Sacramento and Boston – 19 days

Median sales price leaders as of the end of Q2 were:

1)     Sacramento – $267,000, 15% year-over-year increase

2)     Austin – $266,000, 14% year-over-year increase

3)     Las Vegas – $182,000, 12% year-over-year increase

4)     Houston – $215,000, 12% year-over-year increase

5)     Orlando – $154,000, 11% increase

Engaging on Multiple Devices Helps
“As prices continue to rise and for sale housing inventory remains low, serious buyers need as much intelligence as possible about the housing market,” said ZipRealty CEO Lanny Baker. “We’ve developed a variety of tools to help consumers compete when bidding on a for-sale home. Our latest Housing Trends Report, data on multi-platform home searches and ZipRealty’s 2014 Home Buyer Survey are just some of the tools that give consumers real-time insight into how to quickly close transactions.”

An August 2013 Google Consumer Survey revealed that 90% of consumers begin their home search on the Internet, with nearly half of those people starting that search on their phone.

According to ZipRealty research, buyers who use a combination of mobile and desktop to buy a home are:

  • 6 times more likely to request a showing from a real estate agent
  • Visit nearly twice as many homes with the same agent as those searching on a desktop platform alone
  • 4 times more likely to buy a home, compared to buyers who only use desktop to search for real estate, and they close on average 1 month faster.

In addition to using multiple devices to search for a home, consumers are increasingly utilizing multiple devices to research neighborhoods, real estate agents, local housing market trends and other real estate-related information. According to ZipRealty’s 2014 Home Buyer Survey:

  • 59% of home buyers want to read about cities/neighborhoods when searching for a home
  • 45% want to read about local housing market trends.