As expected, January was a pretty active month for the real estate market overall, as traffic and activity seemed to be up on national websites like realtor.com®, as well as on our website as well, nashvillesmls.com.
A few days ago, national real estate platform realtor.com® released a list of the 20 Hottest U.S. Real Estate Markets in January 2016, which was based on analysis of listing views, age of inventory, and several other factors.
To no surprise of those of us working in the Nashville real estate industry or perhaps anybody currently looking to buy or sell a home in the area, our city happened to be one that made the cut, coming in at No. 7 ahead of other major markets like Denver, Los Angeles, and Tampa.
According to their findings, listings in the Top 20 hottest markets were viewed anywhere from two to five times more than that of the national average, with houses also moving right around 30 to 50 days faster than anywhere else in the country as well. Combined, all 20 markets have also seen a decline in the number of days on market by an average of 7% from last year’s total, which might be the most impressive stat of all.
Markets ahead of Nashville include San Francisco, San Jose, and Dallas, which were named the top 3 markets, followed by Vallejo (CA), San Diego, and Sacramento.