As home selling season approaches, tech hubs San Francisco, San Jose, Calif., and Seattle lead the list of metro areas that are poised to be the best for sellers.
These are also three of the priciest markets in the country, which can be attractive for sellers, depending on how much they paid for their homes and how long they've owned them.
In San Francisco, the best market for sellers overall, the median home value is $957,400. In San Jose, it's $1.25 million.
But home values (also reflected in prices) are not what makes these the best metros for sellers. The Zillow Buyer-Seller Index uses three metrics that capture market trends and are a robust measure of buyer/seller dynamics. The metrics are: what share of listings in an area have had a price cut, how long listings sit on the market, and sale-to-list price ratios.
Among the country's largest 35 metro areas, San Francisco had the smallest share of price cuts in January, at 11.5 percent. It also had the shortest median number of days on the market, at 57 days for homes sold in December, the most recent month for which data are available. And its sale-to-list-price ratio, which gauges whether sellers are getting their asking prices at sale, is the second-highest, with sellers getting 98.6 percent of their asking prices, at the median.
We've also published a list of the best markets for buyers.
| Rank | Metro area | % listings with price cut | Median days on market | Sale-to-list-price ratio (%) | Median home value |
|---|---|---|---|---|---|
| 1 | San Francisco, CA | 11.5% | 57 | 98.6% | $957,400 |
| 2 | San Jose, CA | 15.3% | 61 | 97.2% | $1,245,800 |
| 3 | Seattle, WA | 15.2% | 77 | 96.6% | $489,700 |
| 4 | Denver, CO | 18.1% | 65 | 97.2% | $405,300 |
| 5 | Kansas City, MO | 14.5% | 66 | 98.2% | $191,600 |
| 6 | Phoenix, AZ | 19.2% | 61 | 97.4% | $264,900 |
| 7 | Sacramento, CA | 17.3% | 67 | 96.9% | $408,700 |
| 8 | Columbus, OH | 16.5% | 71 | 96.6% | $189,900 |
| 9 | Atlanta, GA | 16.1% | 77 | 97% | $217,500 |
| 10 | Indianapolis, IN | 17.9% | 70 | 97% | $163,900 |
| United States | 15.8% | 83 | 96.2% | $225,300 |
The post Tech Metros Lead List of Best Markets for Home Sellers appeared first on Zillow Research.
via Tech Metros Lead List of Best Markets for Home Sellers
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