Sellers Dominate West Coast, Buyers Rule East Coast

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March 02, 2017

Zillow Porchlight found that eight of the ten hottest sellers’ markets are in California, Oregon, and Washington, while nine of the ten best markets for buyers are in the Northeast, Midwest, or Florida.

Results were based on sales price and time spent on the market. For instance, homes in San Francisco, the top sellers’ market, sell for $800,000 and are up for sale for just 51 days on average. Baltimore, the top buyers’ market, features homes that spend 104 days on the market on average, and 12 percent of the listings have a price cut.

Home inventories also play a role. Markets with more homes going on the market — for example, Miami, where 14.6 percent more listings hit the market in December 2016 than a year earlier — often lean toward buyers. Miami is the second-best buyers’ market, based on listing days and percentage of listings with price cuts.

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