Which Cities Have The Fastest Selling Homes? – Part 1
Wondering where in the United States can you buy and sell a property at the shortest amount of time? Are you a real estate investor who specializes in flipping properties? Then you’ve come to the right place. Realtor.com has done a research providing information on which cities have the fastest selling homes. Here we list down the top five cities to go if you want to flip properties fast.
5. Bakersfield, California
Average number of days on market: 44 Median home price: $149,500 Population: 839,631 Unemployment: 14%
Though one of the places with fastest-selling homes, Bakersfield California has the 23rd lowest median home price, and the lowest in the list. Also, the unemployment rate of 14% is significantly higher than neighboring town, San Francisco’s 7.5% and the United State’s 8.2%. Nevertheless, the rate at which this place is able to sell homes is still remarkable.
4. Fresno, California
Average number of days on market: 43 Median home price:$174,900 Population: 930,450 Unemployment: 15.5%
Similar to Bakersfield, the median home price in Fresno is also among California’s lowest and the unemployment rate among the highest, but is up by 10% versus previous year. On a brighter note, the 43 days turnover rate is a 14% improvement compared to a year ago.
3. Anchorage, Alaska
Average number of days on market: 43 Median home price: $289,500 Population: 380,821 Unemployment: 6%
Well, house hunters don’t really have much option here as there are only 1,120 houses on the market. Meanwhile, the economy of Anchorage is one of the best, having the 23rd highest median price and 22nd lowest unemployment rate in the country.
The top two fastest-selling cities will be discussed in my next post. Which cities do you think tops Realtor.com’s list?