Owners.com Unveils Top Markets for Home Sellers in 2018
January 22 2019 - 9:15AM
Owners.com, a technology driven real estate brokerage, today
released the 2018 Market Recap data study revealing the top 10
metropolitan statistical areas (MSAs) where homes were sold for
close to the listing price and for significantly more money than
the national average. San Francisco, CA, San Jose, CA and Dallas,
TX were the top markets for home sellers looking to get the most
from their home sale.
To uncover the top seller markets, Owners.com analyzed a variety
of factors within the qualifying MSAs, including the difference
between the listing and sale price, percentage of listed properties
sold, average number of days on market, average listed inventory
and average change in rent.
Median home sales prices in the top 10 markets were
significantly higher than the national average. More specifically:
- In the top 10 seller markets, the average median sales price of
$469,790 was over $235,000 above the national median sales
price,
- Median sales prices in the top 10 seller markets increased 10
percent year-over-year ($469,790 in 2018 versus $426,610 in
2017),
- On average, homes sold for $4,997 above their listing price in
the top 10 seller markets, whereas nationwide, homes sold for
$11,650 below the listing price, and
- In the top 10 seller markets, the average percentage of listed
properties that are sold in a month was 79 percent. This suggests a
high demand from buyers relative to the supply in these MSAs,
indicating a “sellers” market.
“It’s not surprising that West Coast cities continued to be
strong seller markets in 2018, however the data shows that markets
like Texas are becoming more desirable for home buyers, likely
because home prices there are more affordable than in other areas
of the country,” said Dario Cardile, Vice President, Growth at
Owners.com. “While home prices will likely remain high in these top
10 markets, sellers should look for opportunities to work with a
brokerage that offers the data and technology to help them
understand the market, set the right price and get the most from
their sale, while also enjoying professional agent support
throughout the process.”
Top 10 Markets for Home
Sellers
|
MSA |
Median Sales Price for Single-Family
Homes |
Average Difference between Sale and Listing Price (Percent
Difference) |
Average Number of Days Listing Is on Market |
Average Active Inventory |
Average Change in Rent (from Previous Year) |
Percentage of Listed Properties Sold |
|
National |
$234,300 |
-$11,650(-8%) |
60 |
N/A |
+$40 |
34% |
1 |
San Francisco-Oakland-Hayward, CA |
$940,000 |
+$12,065(+1.3%) |
55 |
3,999 |
+$96 |
113% |
2 |
San Jose-Sunnyvale-Santa Clara, CA |
$1,290,000 |
+$10,745(+0.8%) |
51 |
2,525 |
+$169 |
141% |
3 |
Dallas-Fort Worth-Arlington, TX |
$272,500 |
+$6,691(+2.5%) |
72 |
17,051 |
+$63 |
80% |
4 |
Salt Lake City, UT |
$325,400 |
+$9,189(+2.8%) |
61 |
1,997 |
+$42 |
61% |
5 |
Portland-Vancouver-Hillsboro, OR-WA |
$387,200 |
-$2,917(-0.8%) |
78 |
52 |
+$80 |
109% |
6 |
Kansas City, MO-KS |
$213,800 |
+$3,656(+1.7%) |
72 |
8,117 |
+$50 |
43% |
7 |
Sacramento--Roseville--Arden-Arcade, CA |
$400,000 |
-$4,190(-1.0%) |
69 |
7,996 |
+$87 |
44% |
8 |
San Antonio-New Braunfels, TX |
$217,100 |
+$16,517(+7.6%) |
86 |
6,975 |
+$5 |
72% |
9 |
Denver-Aurora-Lakewood, CO |
$425,000 |
-$8,685(-2.0%) |
73 |
947 |
+$66 |
84% |
10 |
Houston-The Woodlands-Sugar Land, TX |
$226,900 |
+6,896(+3.0%) |
86 |
30,847 |
+$32 |
47% |
Methodology Owners.com identified all
MSAs with over one million people and retrieved data from October
31, 2017 through October 31, 2018. To identify and rank the top 10
markets for sellers, Owners.com weighted six different metrics
and summed them into a score. The data was sourced from public
property data, aggregated public record data and Census Data. The
metrics and their weights in the total score were as follows:
- Average price difference between sold and listing prices: 20
percent
- Average percent difference between sold and listing prices: 20
percent
- Percent of listed properties sold: 20 percent
- Average days on market: 20 percent
- Average listed inventory: 10 percent
- Monthly rental cost change from previous year: 10 percent
About Owners.com®Owners.com is a technology
driven brokerage at the forefront of the real estate revolution.
With local real estate expertise, financing, closing services and
unique digital experiences, Owners.com and its affiliates offer a
complete real estate solution that strives to anticipate and
fulfill the dreams of consumers. For more information or to contact
a local Owners.com real estate agent, visit Owners.com or follow us
on Facebook or LinkedIn.
About Altisource®Altisource Portfolio Solutions
S.A. (NASDAQ: ASPS) is an integrated service provider and
marketplace for the real estate and mortgage industries. Combining
operational excellence with a suite of innovative services and
technologies, Altisource helps solve the demands of the
ever-changing markets we serve. Additional information is available
at altisource.com.
Source: Altisource Portfolio Solutions S.A.
Investor
Contact:Michelle D. EstermanChief Financial
Officer770-612-7007 Michelle.Esterman@altisource.com |
Press
Contact:Lindsey ShumwayManager,
Communications617-728-6735Lindsey.Shumway@owners.com |
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