The amount of time it takes for a home to sell—its "average days on market”—is one metric for assessing the strength of a local real estate market. In a balanced market, homes typically sell in an average of around 60 days. Shorter than 60 days suggests a sellers’ market whereas longer windows suggest a market that favors buyers.
The Triangle Business Journal analyzed data from Black Knight, Inc., which looked at the fastest-selling ZIP codes in the country today. The analysis focused on ZIP codes with at least 20 sales per quarter and a minimum home price of $350,000. The data was collected in the first and second quarters this year.
The ten fastest-selling ZIP codes in the country saw homes go from listing to under-contract in an average of 30 days. The fastest-moving region nationwide was Snohomish County near Seattle, where homes sold in an average of just 27 days. Nationally, homes were on the market for an average of 81 days during the two quarters tested.
When isolating for Boulder County, the data suggests that many local ZIP codes can be considered balanced markets favoring both buyers and sellers, with sales windows hovering around the 60-day benchmark. Here’s how our area stacks up.
