Rochester ranks among nation's fastest selling real estate markets
Rochester is among the fastest selling metropolitan real estate markets in the nation, according to a recent survey by a New York-based analysis group.
Creditnews Research evaluated Zillow housing data and also looked at historical partners and correlations and ranked the fastest-selling housing markets in America within the top 100 most populous metropolitan areas. Rochester ranked second on the list and Syracuse was third. Hartford, Connecticut topped the list.
According to the report: Rochester has a median days-to-pending of nine days, which makes it tied with the next two cities on the list (Syracuse and Harrisburg, Pennsylvania). That represents a decline of 73.53% compared to January 2020. Rochester also posted the fifth largest percentage drop in inventory per capita compared to pre-COVID.
"Days-to-pending" refers to how many days it takes for a home to change from the “for sale” to “pending” status on Zillow.com. Peak season for the housing market occur in spring and summer.
The study also compared how the rankings evolved since the beginning of 2020 and that COVID-19 pandemic, and discovered a major shift in best-selling markets.
Top 10 fastest selling metro-areas
The list of the top fastest selling metro area of 2024 are all located on the East Coast and Midwest and have experienced seen a sharp decline in their housing inventory since COVID.
Here's the top 10, along with the median days to pending:
Hartford, Connecticut (8)
Rochester, New York (9)
Syracuse, New York (9)
Harrisburg, Pennsylvania (9)
Richmond, Virginia (11)
Grand Rapids, Michigan (11)
New Haven, Connecticut (11)
Boston, Massachusetts (12)
Columbus, Ohio (12)
Worcester, Massachusetts (12)
This article originally appeared on Rochester Democrat and Chronicle: Real estate sales in Rochester NY: Homes seling in record time
