Growing Number of Houses Selling in Less Than 14 Days - |

Armando Montelongo Team Blog

Increasing Number of Houses Selling Within Two Weeks

More and more houses are selling within two weeks of going on the market, according to a new national real estate listings service.

The Redfin Real-Time Price Tracker Report showed that 29.3 percent of all properties in the markets it surveys went under contract within 14 days of listing in May. That was up 73 percent from May 2011.

The hottest markets were in California, led by San Jose, where 52.4 percent of houses went under contract within two weeks.

The new survey covers 19 major markets. It showed a 2.2 percent rise in the median price per square foot across the country from May 2011, a 20 percent decline in inventory a 7.4 percent increase in sales.

The number of days a property stays on the market is of vital importance to real estate investors when evaluating a property.

Here are the 19 markets in the survey, with the percentage of properties that went under contract in 14 days or less:

What do you think? Are faster selling times a good sign? What about in your market? Feel free to leave a comment with your opinion: