Lakewood, Colorado came out on top as the best seller's market in the nation with rapidly increasing home values and buying competition. Yet, California has seven of the top 10 seller's markets, including Moreno Valley, Elk Grove, and Pomona.
The only market not in Colorado or California, Gilbert, Arizona, came in at number four on SmartAsset's 2018 ranking. The data show that only 2.8 percent of homes in this market were sold at a loss. Meanwhile, Gilbert's median homes had a home value increase of 12 percent between 2012 and 2016, based on Census data. The study also revealed that the state of Virginia has some of the poorest-performing cities for selling with many homes being sold at a loss, and at a slower pace.
Lakewood, Colorado occupies the top spot. This city is a great place to sell a house for two reasons. First, the median home in the area has seen a remarkable increase in value. From 2012 to 2016, the median home saw its value increase by just under 15 percent.The second reason Lakewood ranked so well is the short time homes sit on the market. According to our data, the average home in this city spends only 16 days on the market. For both of those metrics this city ranks in the top 10.