Oakland Tops List of Cities with Freshest For-Sale Inventory - | ArmandoMontelongo.com

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Oakland Tops List of Cities with Freshest For-Sale Inventory

California has five of the 10 metro areas where houses were selling the fastest in March, according to a new monthly report.

The National Association of Realtors survey showed that the for-sale inventory in Oakland, Calif., had the lowest median age, at just 28 days. The median age in Oakland is down 44 percent from a year ago, the largest drop in the 164-metro-area report.

Nationally, the median days on market of the for-sale inventory was 89 days, a drop of 19.82 percent from March 2011. Days on market is of importance to real estate investors, since it is an indicator of areas where houses can be purchased, rehabbed and re-sold in a relatively short amount of time.

Here are the 20 metro areas with the lowest median age (in days), with the change from March 2011 and from February 2012:

What do you think? Are these markets where you should be investing? Feel free to let us know: