Homes Are Selling Faster In These 3 U.S. Cities

Like clockwork, springtime housing market activity appears to be on the rise. The RE/MAX National Housing Report for February 2024 revealed that home sales across the country spiked 17% since January 2024, and rose 2.3% from the same time last year.

Throughout the U.S., some areas are seeing a rapid uptick in homes hitting the market and selling, while others are getting a slower start – or thawing out from the winter, so to speak.

The monthly RE/MAX survey of 50 U.S. metro areas identified several key trends in the February data – including one involving Days on Market (DOM), the number of days between an original MLS listing and a signed sales contract. This metric helps measure a location’s level of market activity.

Three U.S. metro areas where homes sold the fastest:

1. Baltimore, Maryland

Homes around Baltimore spent an average of 16 days on the market in February 2024, one day shorter than in February 2023. The median price of homes sold in the Baltimore metro area was $360,000. This median price was down from $370,000 the month prior, but up from $325,000 the year prior – a 10.8% annual increase.

2. Washington, D.C.

Homes around the nation’s capital spent an average of 17 days on the market in February 2024, three days shorter than in February 2023. The median price of homes sold in the D.C. metro area was $533,000. This median home price was up from $505,000 the month prior – nearly the same price as one year ago, too, which showcases a 5.7% annual increase.

3. Trenton, New Jersey

Homes around Trenton spent an average of 20 days on the market in February 2024, eight days shorter than in February 2023. The median price of homes sold in the Trenton metro area was $390,875. This median price was up from $385,000 the month prior, and up from $316,000 the year prior – a substantial 23.7% annual increase.

For more insight on what this could mean for buyers and sellers, check out the most recent National Housing Report coverage on RE/MAX News.

If you’re ready to make a move this spring, get in touch with a local RE/MAX agent today.

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