4 New England Cities Where Homes Are Selling at Lightening Speed
Is it a buyer's market or a seller's market? Will my house sell? Is this a good time to buy a place to call my own? We know that the ebb and flow of the housing market tends to be a constant, even if it's a slow-moving one or alters quickly. New England is no different than anywhere else in the country, with homes selling the best during the warmer months.
According to Slacker, the amount of time homes are staying on the market overall is around five weeks, which is longer than 2022. If it lasts longer, it could mean there's something undesirable about it, which could be something as simple as being priced too high. Meanwhile, Slacker says that homes that last less than a month on the market clearly have lots of pros.
So when it comes to the top 50 towns and cities with the fastest-selling homes, New England has three in Massachusetts, and one in Maine. These locations where homes find a buyer tend to have a list price below the national median price of around $410,000, as affordability is always tops on the priority list for buyers, according to Redfin. However, that's not always the case, as you'll see with New England.
Barnstable, Massachusetts, on Cape Cod is seeing homes sell within an average of 19 days after they hit the market. Being the Cape, it's not surprising that the average home is selling for around $675,000. Barnstable came in at #46.
At #44 is Worcester, Massachusetts, an hour west of Boston. It too has an average of just 19 days on the market before a buyer swoops in. Of course, it's much less expensive than the Cape, with a median price around $410,000 for one of these fast-selling homes.
Boston, Massachusetts, is #41, with homes going for an average of $610,000 and also being on the market for 19 days, give or take.
Finally, let's head to Portland, Maine, which rounds out the top 20 with median home prices selling at $500,000. These homes only last on the market for an average of 12 days.