Cities with Fastest—and Slowest—Inventory Turnover

Properties in Austin and San Francisco spent the fewest days on the market.

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A recent report by Altos Research and Real IQ includes a fascinating look at how long properties are sitting on the market in different parts of the country.

From the report:

For the Altos 10-City Composite, the average days-on-market was 109—an increase from 106 in May. Eleven of 26 markets had an average days-on-market of over 100. Days-on-market declined in just 7 of 26 markets.

By far, the market with the slowest rate of inventory was Miami at an average of 154 days-on-market....

Austin led all markets with the fastest rate of inventory turnover at an average of 72 days-on-market, followed closely by San Francisco at 76 days.

And here's how different cities stacked up, from Inman News.

Average Days on Market

MSA April May June Pct. change
month
Pct. change
3 months
10 city composite 111 106 109 2.6% -2.2%
Miami 153 152 154 1.3% 0.4%
Tampa 113 121 124 3.0% 10.0%
Detroit 143 128 122 -5.1% -14.9%
Cleveland 114 119 115 -3.4% 0.7%
San Diego 78 89 114 27.4% 46.8%
New York 89 103 111 7.7% 25.7%
Las Vegas 126 117 111 -5.0% -12.5%
Phoenix 106 110 110 0.4% 3.4%
Charlotte 100 103 108 5.0% 8.7%
Chicago 125 107 108 1.2% -13.2%
Washington, D.C. 98 96 101 5.1% 2.8%
Indianapolis 96 99 98 -0.9% 1.7%
Minneapolis 114 99 97 -2.0% -15.2%
Los Angeles 93 94 95 1.9% 2.8%
Philadelphia 82 88 95 7.1% 15.2%
Houston 92 91 92 1.1% 0.0%
Dallas 85 85 86 1.0% 0.9%
Seattle 85 85 85 0.7% 1.0%
Denver 89 86 85 -0.9% -4.4%
Atlanta 74 78 84 6.9% 13.2%
Boston 87 81 83 2.6% -3.7%
San Jose 76 80 82 2.6% 7.7%
Salt Lake City 72 76 79 3.7% 9.7%
Portland 77 81 79 -3.0% 2.3%
San Francisco 72 73 76 3.8% 5.1%
Austin 67 68 72 6.6% 7.5%