Home sales in September were up 3.2% from a year ago, according to the latest report from Redfin. Year-to-date homes sales were up 4% compared the same period last year.
The average home sold in 46 days, four days faster than last year, according to Redfin. About one in five homes sold in two weeks or less last month compared to one in six in 2015. In Denver, Seattle. and Tacoma, Wash., more than 50% of homes were under contract in two weeks.
Redfin says median sale prices were up 4.4% year over year for the second month in a row. The national median sale price fell slightly month over month to $267,500 in September. Compared to August, 11.8% fewer homes sold and 7.8% fewer homes were listed for sale, in line with a seasonal slowdown in housing activity heading into the last three months of the year.
“Here in Southern Florida, especially in the Southwest portion of Miami-Dade county, single-family homes that are priced right are selling very quickly thanks to strong buyer demand,” said Redfin real estate agent in Miami Cecilia Cordova in a press release. “There are a lot of first-time home buyers entering the market right now and they definitely seem to prefer single-family homes to condos. Unfortunately, there’s a lack of single-family homes for sale in their target price range, so homes that are available and priced below $400,000 usually always have multiple offers.”
New listings were relatively flat in September, up a 0.8% from a year earlier. In all, there were 7% fewer homes available for sale last month than in September 2015.
Seattle was the fastest market for the second month in a row, with half of all homes pending sale in just 12 days, down from 13 days a year earlier. Competition was strong in San Francisco, where 60.6% of homes sold above list price. St. Louis had the highest increase in the number of homes for sale, up 29.9% year over year.
