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In a monthly REALTORS® Confidence Index Survey, NAR asks REALTORS® “For the last house that you closed in the past month, how long was it on the market from listing time to the time the seller accepted the buyer’s offer?”.
The map below shows the median days on market of respondents about their sales from December 2014-February 2015. Properties in Washington, D.C., California, Nevada, North Dakota, Texas, and Louisiana typically sold within 30 to 45 days[1] (red). Properties in these states have experienced the strongest job growth in the nation, mainly from the technology and oil-gas sectors. Data shows that despite the drop in oil prices, the economies are still going strong. Properties in Washington, Oregon, South Dakota, Nebraska, Florida, Georgia, and Massachusetts typically sold within 2 months (pink). Properties in Montana and Vermont took the longest time to sell at 3 months or longer (blue).
All real estate is local: state-level data is provided to enable a comparison of local market trends against the state and national summary.
[1] The median days on market is the number of days below which 50 percent of properties sold. So this means that half of all properties sold in these states sold below the median days.
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