STUDY SHOWS FASTEST REAL ESTATE MARKETS IN THE U.S.
Mar. 19, 2013
Source: Redfin news release
Redfin (www.redfin.com), the technology-powered real estate broker, today announced a list of the nation's fastest real estate markets, as defined by having the most homes going under contract in 24 hours or less. Redfin has coined the term "Real Estate Flash Sales" to describe this new phenomenon in the real estate market.
Following are the 15 real estate markets across the U.S. with the most flash sales recorded in the last five months:
Rank, City, # Flash Sales
1, Phoenix, AZ, 540
2, Chicago, IL, 261
3, Houston, TX, 188
4, Dallas, TX, 184
5, Austin, TX, 163
6, San Diego, CA, 135
7, Los Angeles, CA, 132
8, Sacramento, CA, 128
9, Denver, CO, 115
10, Portland, OR, 115
11, Las Vegas, NV, 100
12, Baltimore, MD, 97
13, Washington, DC, 87
14, Seattle, WA, 87
15, San Jose, CA, 74
The ranking is based on data collected from the local Multiple Listing Services (MLS), public records and information collected from Redfin real estate agents about all homes listed for sale across 21 U.S. markets from October 1, 2012 through February 26, 2013.
The inventory shortage plaguing real estate markets across the country, paired with extremely high homebuyer demand have caused the pace of the market to accelerate dramatically. Already frustrated homebuyers are finding it necessary to move very quickly to keep up with their market's selling velocity.
Using a local brokerage site like Redfin.com ensures that buyers are seeing all the homes for sale at any given moment, and not wasting time on homes that are already off the market. Additionally, Redfin's Instant Alerts instantly inform users that a home meeting their search criteria has come on the market via email or smartphone notification.
To read the full post with examples and photos of real recent flash sales visit: http://blog.redfin.com/?p=12714.
Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions.
Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 21 U.S. markets and has closed more than $8 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @redfin, and Facebook.com/Redfin.