Is it a seller’s market? Got to these five cities, and it’s pretty clear: It sure is. In these markets, home prices are on a steady track upward, inventory is falling, and that’s making it tough for buyers to win bidding wars. Hey, that’s great for sellers. They can get higher bids on their homes, and with fewer houses on the market there’s less competition for buyers.
Nationally, the trend has been in favor of sellers. Single-family-home sales shot up 9.1 percent in January from a year prior, median home sale prices rose 12.3 percent to $173,600, and inventory was down 16.5 percent, according to the National Association of Realtors. The median number of days that homes were on the market in January was also down 9 percent to 108 days. In the top five cities to sell a home, these trends were even stronger.
MarketWatch analyzed NAR’s data to come up with the list of five best cities for home sellers. The publication found better-than-average conditions for sellers in these markets, including impressive price gains, low inventories and a healthy pool of buyers. Though sellers still aren’t getting offers as high as they would a few years ago, they’re faring better than the national average. Click through the gallery below to see the best cities for home sellers.