The real estate market in the state of Texas, most notably in the city of Austin, is extremely hot right now, as homes located in the city are remaining on the market for only 61 days on average. In the month of June, however, the number of days dropped to 53.
Other cities in Texas are also doing very well with homes being sold quickly. For instance, Dallas has seen their area homes sold within an average of 55 days, while San Antonio typically will see homes sold within 73 days, later to be shrunk to 66 days during the month of June.
The city of Houston, however, is right at the level of the remainder of the country, seeing homes sold within an average of 81 days. Though it was initially thought that the aftermath of Hurricane Harvey would have some type of impact on this, with the 2016 time frame in Houston for homes being sold was 80 days.
On average, home closings can typically take anywhere from four to six weeks to complete. This means that generally, a home will remain on the market for 30 days before it ends up being put under contract. Back in 2017, the fastest selling market was found to be in San Jose, California, where a home generally sold in 41 days.
In terms of major metropolitan areas, New York City saw homes sell in an astonishing 134 days, though this total dropped to 122 during the month of July.
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