Home sales

15 cities with the most home sales per capita


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Editor’s Note: This story originally appeared on Porch.

Unusually high demand in the real estate market has been a constant fact throughout the COVID-19 pandemic. While real estate sales – like most aspects of the economy – came to a halt in March and April 2020, buyers have since bought homes quickly, often offering to pay above asking prices and make others. concessions to reach a deal.

This increase in demand is partly explained by favorable economic conditions for middle and upper incomes. While low-wage workers were at much higher risk of economic instability during the pandemic, most professional-class workers were able to keep their jobs by switching to remote work, saving money through the reduction. spending in categories like travel, entertainment and food; and enjoying strong returns in the stock market. Good household financial conditions and low mortgage interest rates put homeownership within the reach of many buyers.

The total volume of home sales nationwide shows the magnitude of this demand. Seasonally adjusted monthly home sales fell sharply at the start of the pandemic to less than 400,000 in May 2020, but rebounded to a peak of over 650,000 in October 2020. Monthly sales have since stabilized at a lower level. , but still well above pre-pandemic levels. This volume of homes is exiting the market even despite the fact that the inventory of homes for sale is at an all time high during most of the pandemic.

Major metros with the most home sales per capita

Sold with multiple offer sign
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While demand is unusually high in most markets, some locations experience more competition than others. Notably, Florida and Nevada are far ahead of other states in terms of average monthly home sales, with 19.7 and 16.9 home sales per 10,000 residents, respectively. Most of the major states offer a combination of relatively affordable real estate, strong economic opportunities, and temperate climates that make them attractive alternatives to high-cost states like California and New York, which see more people relocate. Regarding the metro, the same trends are maintained with many so-called “second-tier” cities in the South and West experiencing the highest demand.

The data used in this analysis comes from Redfin and the US Census Bureau. To determine the metropolitan areas with the most home sales, the Porch researchers calculated the average monthly home sales per 10,000 residents between January and September 2021. If tied, the location with monthly home sales highest averages was ranked higher. The researchers also included the median number of days on the market, the percentage of homes sold above demand, and the median selling price. To improve relevance, only locations with at least 100,000 inhabitants and available data from Redfin have been included. In addition, the subways have been grouped into cohorts based on population size.

Here are the large metropolises (1 million inhabitants or more) with the most home sales per capita.

15. Minneapolis-St. Paul-Bloomington, Minnesota-WI

Residential area of ​​Minneapolis, Minnesota
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  • Average monthly sales of houses (per 10,000 inhabitants): 15.3
  • Average monthly home sales (total): 5,600
  • Median days on the market: 16
  • Percentage of homes sold above requesting: 59.6%
  • Median selling price: $ 340,585

14. Tucson, Arizona

House in Tucson Arizona
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  • Average monthly sales of houses (per 10,000 inhabitants): 15.6
  • Average monthly home sales (total): 1,652
  • Median days on the market: 39
  • Percentage of homes sold above requesting: 46.7%
  • Median selling price: $ 296,913

13. Seattle-Tacoma-Bellevue, WA

Seattle Home District
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  • Average monthly sales of houses (per 10,000 inhabitants): 15.9
  • Average monthly home sales (total): 6,390
  • Median days on the market: 6
  • Percentage of homes sold above requesting: 63.3%
  • Median selling price: $ 660,383

12. Virginia Beach-Norfolk-Newport News, Virginia-NC

Virginia Beach, Virginia
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  • Average monthly sales of houses (per 10,000 inhabitants): 16.4
  • Average monthly home sales (total): 2 927
  • Median days on the market: 21
  • Percentage of homes sold above requesting: 52.6%
  • Median selling price: $ 280,246

11. Atlanta-Sandy Springs-Alpharetta, Georgia

Atlanta, Georgia homes
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  • Average monthly sales of houses (per 10,000 inhabitants): 16.5
  • Average monthly home sales (total): 10,071
  • Median days on the market: 14
  • Percentage of homes sold above requesting: 48.0%
  • Median selling price: $ 318,216

10. Charlotte-Concord-Gastonia, North Carolina-SC

Home surrounded by greenery in Charlotte, NC.
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  • Average monthly sales of houses (per 10,000 inhabitants): 16.6
  • Average monthly home sales (total): 4,445
  • Median days on the market: 34
  • Percentage of homes sold above requesting: 52.6%
  • Median selling price: $ 327,622

9. Denver-Aurora-Lakewood, CO

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  • Average monthly sales of houses (per 10,000 inhabitants): 16.9
  • Average monthly home sales (total): 5,052
  • Median days on the market: 6
  • Percentage of homes sold above requesting: 65.0%
  • Median selling price: $ 519,201

8. Phoenix-Mesa-Chandler, AZ

Houses in Phoenix, Arizona
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  • Average monthly sales of houses (per 10,000 inhabitants): 17.3
  • Average monthly home sales (total): 8 777
  • Median days on the market: 26
  • Percentage of homes sold above requesting: 51.9%
  • Median selling price: $ 389,758

7. Raleigh-Cary, North Carolina

Raleigh North Carolina Home
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  • Average monthly sales of houses (per 10,000 inhabitants): 17.6
  • Average monthly home sales (total): 2,495
  • Median days on the market: 36
  • Percentage of homes sold above requesting: 59.2%
  • Median selling price: $ 355,787

6. Orlando-Kissimmee-Sanford, Florida

House in Orlando, Florida
Tom Fawls / Shutterstock.com
  • Average monthly sales of houses (per 10,000 inhabitants): 17.8
  • Average monthly home sales (total): 4,703
  • Median days on the market: 14
  • Percentage of homes sold above requesting: 32.0%
  • Median selling price: $ 317,623

5. Miami-Fort Lauderdale-Pompano Beach, Florida

Miami, Florida Homes
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  • Average monthly sales of houses (per 10,000 inhabitants): 17.8
  • Average monthly home sales (total): 10,982
  • Median days on the market: 56
  • Percentage of homes sold above requesting: 20.7%
  • Median selling price: $ 364,244

4. Las Vegas-Henderson-Paradise, NV

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  • Average monthly sales of houses (per 10,000 inhabitants): 18.3
  • Average monthly home sales (total): 4,230
  • Median days on the market: 24
  • Percentage of homes sold above requesting: 44.2%
  • Median selling price: $ 354,946

3. Nashville-Davidson – Murfreesboro – Franklin, Tennessee

House in Nashville, Tennessee
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  • Average monthly sales of houses (per 10,000 inhabitants): 18.9
  • Average monthly home sales (total): 3,710
  • Median days on the market: 25
  • Percentage of homes sold above requesting: 44.2%
  • Median selling price: $ 370,185

2. Tampa-St. Petersburg-Clearwater, Florida

Tampa, Florida
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  • Average monthly sales of houses (per 10,000 inhabitants): 19.8
  • Average monthly home sales (total): 6,432
  • Median days on the market: 11
  • Percentage of homes sold above requesting: 36.8%
  • Median selling price: $ 298,234

1. Jacksonville, Florida

Jacksonville Home District
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  • Average monthly sales of houses (per 10,000 inhabitants): 19.9
  • Average monthly home sales (total): 3,158
  • Median days on the market: 28
  • Percentage of homes sold above requesting: 35.4%
  • Median selling price: $ 292,631

Detailed results and methodology

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The data used in this analysis comes from the Redfin data center and the 2020 US Census Bureau population estimates. To determine the locations with the most home sales per capita, the researchers calculated the average monthly home sales per 10,000 residents between January and September 2021. If tied, the location with the average monthly home sales the highest was ranked higher. The additional fields for median days on the market, percentage of homes sold above demand, and median selling price were determined using a weighted average of monthly data based on the number of homes sold for the specific location and period. To improve relevance, only locations with at least 100,000 inhabitants and available data from Redfin have been included. In addition, metropolises have been grouped into cohorts based on population size: small (100,000 to 349,999), medium (350,000 to 999,999) and large (1,000,000 or more).

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