10 States Where Homes Are Selling the Fastest
Nationwide, it takes on average 88.93 days to fully sell a home in the U.S., but in some states, homes are selling at a much quicker pace. Overall, it takes 53.36 days on average for an offer to be accepted and 35.56 days to close a home sale on a nationwide basis. A recent study from mortgage broker Eden Emerald Mortgages analyzed Zillow data to find out how these figures vary by state.
The report found that Rhode Island homes are the fastest to sell, taking just over two months. Ohio, Michigan, Maine and Connecticut round out the top five.
Here’s what data shows across the top three states
In Rhode Island, it takes an average of 69.69 days to sell a home, which breaks down to 28.69 days for sellers to accept an offer and 41 days to close the sale.
Ohio is closely behind, likely because of its relatively affordable housing market. There, it takes an average of 70.49 days to sell a home—36.55 days for an offer to be accepted and 33.95 days to close the sale.
Ohio is the state in the Midwest where homes sell the fastest, but it's followed closely by Michigan. In that state, homes take an average of 40.16 days for an offer to be accepted and 30.48 days to close the sale, totaling 70.64 days.
While homes are being snatched up quickly in some states, that’s the not the case everywhere
- Homes Take the Longest to Sell in These Markets: Due to a surplus of inventory, homes take the longest to sell in Miami, Fla., followed by Austin, Tex., and then Jacksonville, Fla.
- As Prices Rise, Homes Stay on the Market for Longer: In January, homes stayed on the market for an average of 54 days before beginning the selling process.