San Francisco, CA, San Jose, CA and Dallas, TX top the list
ATLANTA, Jan. 22, 2019 (GLOBE NEWSWIRE) — Owners.com, a technology driven real estate brokerage, today released the 2018 Market Recap data study revealing the top 10 metropolitan statistical areas (MSAs) where homes were sold for close to the listing price and for significantly more money than the national average. San Francisco, CA, San Jose, CA and Dallas, TX were the top markets for home sellers looking to get the most from their home sale.
To uncover the top seller markets, Owners.com analyzed a variety of factors within the qualifying MSAs, including the difference between the listing and sale price, percentage of listed properties sold, average number of days on market, average listed inventory and average change in rent.
Median home sales prices in the top 10 markets were significantly higher than the national average. More specifically:
- In the top 10 seller markets, the average median sales price of $469,790 was over $235,000 above the national median sales price,
- Median sales prices in the top 10 seller markets increased 10 percent year-over-year ($469,790 in 2018 versus $426,610 in 2017),
- On average, homes sold for $4,997 above their listing price in the top 10 seller markets, whereas nationwide, homes sold for $11,650 below the listing price, and
- In the top 10 seller markets, the average percentage of listed properties that are sold in a month was 79 percent. This suggests a high demand from buyers relative to the supply in these MSAs, indicating a “sellers” market.
“It’s not surprising that West Coast cities continued to be strong seller markets in 2018, however the data shows that markets like Texas are becoming more desirable for home buyers, likely because home prices there are more affordable than in other areas of the country,” said Dario Cardile, Vice President, Growth at Owners.com. “While home prices will likely remain high in these top 10 markets, sellers should look for opportunities to work with a brokerage that offers the data and technology to help them understand the market, set the right price and get the most from their sale, while also enjoying professional agent support throughout the process.”
Top 10 Markets for Home Sellers
| MSA | Median Sales Price for Single-Family Homes | Average Difference between Sale and Listing Price (Percent Difference) | Average Number of Days Listing Is on Market | Average Active Inventory | Average Change in Rent (from Previous Year) | Percentage of Listed Properties Sold | ||
| National | $234,300 | -$11,650 (-8%) |
60 | N/A | +$40 | 34% | ||
| 1 | San Francisco-Oakland-Hayward, CA | $940,000 | +$12,065 (+1.3%) |
55 | 3,999 | +$96 | 113% | |
| 2 | San Jose-Sunnyvale-Santa Clara, CA | $1,290,000 | +$10,745 (+0.8%) |
51 | 2,525 | +$169 | 141% | |
| 3 | Dallas-Fort Worth-Arlington, TX | $272,500 | +$6,691 (+2.5%) |
72 | 17,051 | +$63 | 80% | |
| 4 | Salt Lake City, UT | $325,400 | +$9,189 (+2.8%) |
61 | 1,997 | +$42 | 61% | |
| 5 | Portland-Vancouver-Hillsboro, OR-WA | $387,200 | -$2,917 (-0.8%) |
78 | 52 | +$80 | 109% | |
| 6 | Kansas City, MO-KS | $213,800 | +$3,656 (+1.7%) |
72 | 8,117 | +$50 | 43% | |
| 7 | Sacramento–Roseville–Arden-Arcade, CA | $400,000 | -$4,190 (-1.0%) |
69 | 7,996 | +$87 | 44% | |
| 8 | San Antonio-New Braunfels, TX | $217,100 | +$16,517 (+7.6%) |
86 | 6,975 | +$5 | 72% | |
| 9 | Denver-Aurora-Lakewood, CO | $425,000 | -$8,685 (-2.0%) |
73 | 947 | +$66 | 84% | |
| 10 | Houston-The Woodlands-Sugar Land, TX | $226,900 | +6,896 (+3.0%) |
86 | 30,847 | +$32 | 47% | |
Methodology
Owners.com identified all MSAs with over one million people and retrieved data from October 31, 2017 through October 31, 2018. To identify and rank the top 10 markets for sellers, Owners.com weighted six different metrics and summed them into a score. The data was sourced from public property data, aggregated public record data and Census Data. The metrics and their weights in the total score were as follows:
- Average price difference between sold and listing prices: 20 percent
- Average percent difference between sold and listing prices: 20 percent
- Percent of listed properties sold: 20 percent
- Average days on market: 20 percent
- Average listed inventory: 10 percent
- Monthly rental cost change from previous year: 10 percent
About Owners.com®
Owners.com is a technology driven brokerage at the forefront of the real estate revolution. With local real estate expertise, financing, closing services and unique digital experiences, Owners.com and its affiliates offer a complete real estate solution that strives to anticipate and fulfill the dreams of consumers. For more information or to contact a local Owners.com real estate agent, visit Owners.com or follow us on Facebook or LinkedIn.
About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at altisource.com.
Source: Altisource Portfolio Solutions S.A.
| Investor Contact: Michelle D. Esterman Chief Financial Officer 770-612-7007 [email protected] |
Press Contact: Lindsey Shumway Manager, Communications 617-728-6735 [email protected] |
