The American housing market has never been hotter. In May, the median home on the market took just 31 days to sell – six days fewer than in May 2021 and nearly a month less time than it took in the typical pre-pandemic May.
The competition to find a home can be fierce, especially in major metropolitan areas. In some of America’s larger population centers, most homes for sale stay on the market for less than two weeks.
To determine the cities where homes are selling the fastest, 24/7 Wall St. reviewed data from Realtor.com’s Monthly Housing Trends Report for May 2022. Homes sold in May 2022 in the 50 largest metropolitan areas in the U.S. were ranked based on the median days on the market. We listed the 25 cities where homes take the shortest time to sell.
Homes in America have never been more expensive. In May, the U.S. median list price hit a new record high of $447,000. Homes in major cities can be much more costly. In most of the cities on this list, the typical home costs $500,000, if not much more. These are the cities with the most million-dollar homes.
Even as home prices have increased, demand has remained high. In most of the 25 cities on this list, the median days to sale has declined by at least seven days from May 2021 to May 2022.
Click here to see 25 cities where homes are selling the fastest
25. Tampa-St Petersburg-Clearwater, FL
> Median days on market, May 2022: 27 days
> Chg. in median days on market, May 2021-May 2022: -8 days (9th fewest most out of 50)
> Median list price, May 2022: $437,000 (23rd highest out of 50)
> Increase in median list price, May 2021-May 2022: +30.6% (4th highest out of 50)
> Population: 3,152,928
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24. Portland-Vancouver-Hillsboro, OR-WA
> Median days on market, May 2022: 26 days
> Chg. in median days on market, May 2021-May 2022: -7 days (21st fewest most out of 50)
> Median list price, May 2022: $598,000 (13th highest out of 50)
> Increase in median list price, May 2021-May 2022: +8.7% (17th lowest out of 50)
> Population: 2,472,774
23. Los Angeles-Long Beach-Anaheim, CA
> Median days on market, May 2022: 25 days
> Chg. in median days on market, May 2021-May 2022: -9 days (9th fewest most out of 50)
> Median list price, May 2022: $972,000 (3rd highest out of 50)
> Increase in median list price, May 2021-May 2022: +1.4% (9th lowest out of 50)
> Population: 13,211,027
22. Buffalo-Cheektowaga-Niagara Falls, NY
> Median days on market, May 2022: 24 days
> Chg. in median days on market, May 2021-May 2022: -8 days (9th fewest most out of 50)
> Median list price, May 2022: $247,000 (4th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +-1.2% (6th lowest out of 50)
> Population: 1,129,018
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21. San Francisco-Oakland-Hayward, CA
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: -6 days (23rd fewest most out of 50)
> Median list price, May 2022: $1,129,000 (2nd highest out of 50)
> Increase in median list price, May 2021-May 2022: +3.8% (13th lowest out of 50)
> Population: 4,709,220
20. Sacramento-Roseville-Arden-Arcade, CA
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: -5 days (17th most most out of 50)
> Median list price, May 2022: $649,000 (9th highest out of 50)
> Increase in median list price, May 2021-May 2022: +11.0% (22nd lowest out of 50)
> Population: 2,338,866
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19. Phoenix-Mesa-Scottsdale, AZ
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: -8 days (9th fewest most out of 50)
> Median list price, May 2022: $550,000 (15th highest out of 50)
> Increase in median list price, May 2021-May 2022: +22.2% (12th highest out of 50)
> Population: 4,860,338
18. Detroit-Warren-Dearborn, MI
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: +1 day (the most most out of 50)
> Median list price, May 2022: $275,000 (5th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +-1.8% (5th lowest out of 50)
> Population: 4,317,384
17. Dallas-Fort Worth-Arlington, TX
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: -8 days (9th fewest most out of 50)
> Median list price, May 2022: $473,000 (19th highest out of 50)
> Increase in median list price, May 2021-May 2022: +24.5% (10th highest out of 50)
> Population: 7,451,858
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16. Charlotte-Concord-Gastonia, NC-SC
> Median days on market, May 2022: 23 days
> Chg. in median days on market, May 2021-May 2022: -6 days (23rd fewest most out of 50)
> Median list price, May 2022: $435,000 (24th highest out of 50)
> Increase in median list price, May 2021-May 2022: +11.5% (23rd lowest out of 50)
> Population: 2,595,027
15. Providence-Warwick, RI-MA
> Median days on market, May 2022: 22 days
> Chg. in median days on market, May 2021-May 2022: -8 days (9th fewest most out of 50)
> Median list price, May 2022: $467,000 (20th highest out of 50)
> Increase in median list price, May 2021-May 2022: +16.9% (16th highest out of 50)
> Population: 1,621,099
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14. Louisville/Jefferson County, Ky-IN
> Median days on market, May 2022: 22 days
> Chg. in median days on market, May 2021-May 2022: -3 days (11th most most out of 50)
> Median list price, May 2022: $292,000 (8th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +6.4% (14th lowest out of 50)
> Population: 1,262,287
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13. Las Vegas-Henderson-Paradise, NV
> Median days on market, May 2022: 22 days
> Chg. in median days on market, May 2021-May 2022: -2 days (6th most most out of 50)
> Median list price, May 2022: $500,000 (17th highest out of 50)
> Increase in median list price, May 2021-May 2022: +28.2% (5th highest out of 50)
> Population: 2,228,866
12. San Diego-Carlsbad, CA
> Median days on market, May 2022: 21 days
> Chg. in median days on market, May 2021-May 2022: -5 days (17th most most out of 50)
> Median list price, May 2022: $926,000 (4th highest out of 50)
> Increase in median list price, May 2021-May 2022: +15.9% (19th highest out of 50)
> Population: 3,323,970
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11. Virginia Beach-Norfolk-Newport News, VA-NC
> Median days on market, May 2022: 19 days
> Chg. in median days on market, May 2021-May 2022: -2 days (6th most most out of 50)
> Median list price, May 2022: $359,000 (17th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +12.2% (24th lowest out of 50)
> Population: 1,768,956
10. Hartford-West Hartford-East Hartford, CT
> Median days on market, May 2022: 18 days
> Chg. in median days on market, May 2021-May 2022: -12 days (2nd fewest most out of 50)
> Median list price, May 2022: $363,000 (19th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +17.1% (15th highest out of 50)
> Population: 1,205,842
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9. Seattle-Tacoma-Bellevue, WA
> Median days on market, May 2022: 17 days
> Chg. in median days on market, May 2021-May 2022: -12 days (2nd fewest most out of 50)
> Median list price, May 2022: $834,000 (5th highest out of 50)
> Increase in median list price, May 2021-May 2022: +22.6% (11th highest out of 50)
> Population: 3,928,498
8. San Jose-Sunnyvale-Santa Clara, CA
> Median days on market, May 2022: 17 days
> Chg. in median days on market, May 2021-May 2022: -12 days (2nd fewest most out of 50)
> Median list price, May 2022: $1,494,000 (the highest out of 50)
> Increase in median list price, May 2021-May 2022: +15.1% (22nd highest out of 50)
> Population: 1,985,926
7. Boston-Cambridge-Newton, MA-NH
> Median days on market, May 2022: 16 days
> Chg. in median days on market, May 2021-May 2022: -7 days (21st fewest most out of 50)
> Median list price, May 2022: $772,000 (6th highest out of 50)
> Increase in median list price, May 2021-May 2022: +10.3% (19th lowest out of 50)
> Population: 4,854,808
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6. Austin-Round Rock, TX
> Median days on market, May 2022: 16 days
> Chg. in median days on market, May 2021-May 2022: -10 days (8th fewest most out of 50)
> Median list price, May 2022: $627,000 (10th highest out of 50)
> Increase in median list price, May 2021-May 2022: +25.6% (8th highest out of 50)
> Population: 2,173,804
5. Nashville-Davidson-Murfreesboro-Franklin, TN
> Median days on market, May 2022: 14 days
> Chg. in median days on market, May 2021-May 2022: -2 days (6th most most out of 50)
> Median list price, May 2022: $550,000 (16th highest out of 50)
> Increase in median list price, May 2021-May 2022: +32.5% (2nd highest out of 50)
> Population: 1,904,186
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4. Columbus, OH
> Median days on market, May 2022: 14 days
> Chg. in median days on market, May 2021-May 2022: 0 days (2nd most most out of 50)
> Median list price, May 2022: $340,000 (13th lowest out of 50)
> Increase in median list price, May 2021-May 2022: +13.3% (25th lowest out of 50)
> Population: 2,101,543
3. Rochester, NY
> Median days on market, May 2022: 10 days
> Chg. in median days on market, May 2021-May 2022: -1 day (4th most most out of 50)
> Median list price, May 2022: $225,000 (2nd lowest out of 50)
> Increase in median list price, May 2021-May 2022: +-9.7% (2nd lowest out of 50)
> Population: 1,071,784
2. Denver-Aurora-Lakewood, CO
> Median days on market, May 2022: 10 days
> Chg. in median days on market, May 2021-May 2022: -2 days (6th most most out of 50)
> Median list price, May 2022: $695,000 (8th highest out of 50)
> Increase in median list price, May 2021-May 2022: +16.0% (18th highest out of 50)
> Population: 2,928,437
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1. Raleigh, NC
> Median days on market, May 2022: 9 days
> Chg. in median days on market, May 2021-May 2022: -11 days (5th fewest most out of 50)
> Median list price, May 2022: $494,000 (18th highest out of 50)
> Increase in median list price, May 2021-May 2022: +21.2% (13th highest out of 50)
> Population: 1,362,997
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