Strong October Housing Market

Realtor.com’s Monthly Housing Trends Report said this October saw close to record levels in sales in the U.S. housing market. In fact, this October houses sold faster than September for the first time since 2011.

“In the fall, we normally see homes sell more slowly and prices pull back from peak levels. But this October, we saw a drop in the time it takes to sell a home even while home prices remain at their summer peak,” said Danielle Hale, chief economist for realtor.com.

According to Realtor.com in October homes sold in 53 days which was 13 days faster than October of last year. For home prices, the median listing price rose 12.2% year-over-year to $350,000.

The numbers for the newly listed homes by U.S. metropolitan area were very different. San Jose-Sunnyvale-Santa Clara, California had the highest new listing count year-over-year at 30.6% with a median listing price of $1,199,100.00 with 34 days on the market while Nashville-Davidson–Murfreesboro–Franklin,
Tennessee had the lowest new listing count year-over-year at -27.5% with a median listing price of $400,000 with 32 days on the market. Within the country’s 50 largest metros, homes sold in a record 45 days.

As far as the nation’s regions, the Northeast had the highest gains at 11.4%, next the West had 10.1%, followed by the Midwest with 9% and the South came in last at 7.3%.

Here is a look at the number of newly listed homes by metropolitan area:

Metro New Listing
Count YoY
Median
Listing
Price YoY
Median
Listing Price
Median
Days on
Market
Active
Listing
Count
YoY
San Jose-Sunnyvale-Santa Clara, Calif. 30.6% 8.1% $1,199,100 34 -18.5%
New York-Newark-Jersey City, N.Y.-N.J.-Pa. 28.2% 15.1% $639,100 58 -6.1%
San Francisco-Oakland-Hayward, Calif. 25.9% 11.6% $1,049,100 35 -4.2%
Los Angeles-Long Beach-Anaheim, Calif. 17.2% 16.9% $995,100 49 -22.9%
Hartford-West Hartford-East Hartford, Conn. 15.9% 7.1% $300,000 41 -31.3%
Boston-Cambridge-Newton, Mass.-N.H. 15.1% 13.9% $669,100 33 -29.4%
Seattle-Tacoma-Bellevue, Wash. 12.5% 6.4% $625,000 35 -31.6%
Sacramento–Roseville–Arden-Arcade, Calif. 11.3% 12.3% $549,100 35 -48.4%
Minneapolis-St. Paul-Bloomington, Minn.-Wis. 9.9% 2.4% $348,000 37 -30.1%
Washington-Arlington-Alexandria, DC-Va.-
Md.-W. Va.
5.4% 4.6% $502,100 36 -36.7%
Las Vegas-Henderson-Paradise, Nev. 0.4% 7.9% $345,300 41 -7.8%
San Diego-Carlsbad, Calif. -0.6% 11.2% $795,100 24 -25.4%
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. -1.2% 16.7% $349,100 48 -41.8%
Denver-Aurora-Lakewood, Colo. -2.0% 5.0% $520,000 36 -44.2%
Birmingham-Hoover, Ala. -2.4% 1.7% $260,000 51 -36.1%
Portland-Vancouver-Hillsboro, Ore.-Wash. -2.7% 9.1% $510,100 49 -44.0%
Riverside-San Bernardino-Ontario, Calif. -3.8% 14.6% $470,100 41 -53.6%
Rochester, N.Y. -3.9% 12.9% $228,700 31 -43.3%
St. Louis, Mo.-Ill. -4.4% 10.3% $248,000 56 -38.4%
Virginia Beach-Norfolk-Newport News, Va.-
N.C.
-4.9% 6.9% $320,600 39 -46.7%
Baltimore-Columbia-Towson, Md. -7.3% 4.6% $340,000 43 -51.4%
Raleigh, N.C. -7.3% 6.8% $390,000 49 -45.4%
Milwaukee-Waukesha-West Allis, Wis. -7.6% 3.8% $300,000 42 -39.2%
Houston-The Woodlands-Sugar Land, Texas -7.6% 7.8% $334,100 52 -32.8%
Chicago-Naperville-Elgin, Ill.-Ind.-Wis. -7.9% 9.5% $345,000 43 -32.6%
Buffalo-Cheektowaga-Niagara Falls, N.Y. -8.2% 7.5% $215,000 52 -46.7%
Tampa-St. Petersburg-Clearwater, Fla. -8.2% 10.0% $308,000 48 -43.0%
Miami-Fort Lauderdale-West Palm Beach, Fla. -8.8% 2.5% $410,100 93 -15.6%
Austin-Round Rock, Texas -9.0% 15.9% $413,200 46 -47.7%
Orlando-Kissimmee-Sanford, Fla. -9.2% 1.6% $325,000 59 -20.9%
Cleveland-Elyria, Ohio -9.3% 3.2% $200,000 47 -48.2%
Phoenix-Mesa-Scottsdale, Ariz. -9.3% 7.7% $415,600 36 -41.8%
Pittsburgh, Pa. -9.4% N/A $245,100 57 -36.8%
Providence-Warwick, R.I.-Mass. -10.3% 6.1% $400,000 42 -52.5%
Kansas City, Mo.-Kan. -11.1% 10.1% $330,100 47 -48.7%
New Orleans-Metairie, La. -12.8% 15.7% $329,100 64 -39.1%
Cincinnati, Ohio-Ky.-Ind. -13.7% 16.3% $310,000 39 -44.9%
Oklahoma City, Okla. -15.4% 6.6% $270,000 48 -40.5%
San Antonio-New Braunfels, Texas -16.0% 3.6% $300,000 53 -40.8%
Dallas-Fort Worth-Arlington, Texas -16.1% 4.1% $356,000 47 -46.8%
Louisville/Jefferson County, Ky.-Ind. -17.4% 2.2% $258,100 35 -50.2%
Columbus, Ohio -17.5% 9.0% $305,100 35 -47.8%
Atlanta-Sandy Springs-Roswell, Ga. -18.8% 10.6% $355,100 46 -45.5%
Indianapolis-Carmel-Anderson, Ind. -19.8% 5.7% $275,000 43 -47.8%
Jacksonville, Fla. -20.4% 2.6% $318,100 55 -45.5%
Memphis, Tenn.-Miss.-Ark. -21.7% 14.0% $263,800 45 -49.3%
Detroit-Warren-Dearborn, Mich -21.7% 12.4% $269,100 38 -47.4%
Richmond, Va. -21.8% 11.7% $357,000 45 -48.2%
Charlotte-Concord-Gastonia, N.C.-S.C. -22.9% 9.0% $365,400 43 -48.7%
Nashville-Davidson–Murfreesboro–Franklin,
Tenn.
-27.5% 8.1% $400,000 32 -43.6%
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