Strong Demand in Most Expensive Metros Driving Fast-Paced Home Sales

Tight inventory has caused steep price growth in Seattle, San Jose, and San Francisco's metro areas, while homebuyer demand is fueled by strong job growth.

New data shows that the median listing price was $1.1 million for San Jose in October 2017, with the properties typically listed on Realtor.com for 31 days. The National Association of Realtors reports that San Francisco's typical listing period was also 31 days, with a median listing price of $899,050.

Demand for properties have also caused prices to increase strongly and properties to sell quickly in the Seattle-Tacoma-Bellevue metro area. Properties were listed on Realtor.com at a median of 37 days, down from 42 days in October 2016, while the median price rose to $495,000, from last year’s $430,050.

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