This July, there were 20.8% fewer newly listed homes for sale than during July last year. Although active inventory has grown since June at a normal seasonal rate, there were still 45,000 fewer listings on a typical day in July compared to a year ago.
In the 50 largest metro areas, the number of active listings decreased by 12% year over year, and the listing count in these cities remains 46.4% lower than before the pandemic. (Read about the American cities spending billions to build more homes.)
Combined with the shortage of listings, the houses that are for sale are staying on the market longer than they did last year, though they are getting scooped up more quickly than they were before the pandemic. This July, homes remained on the market for an average of 45 days, which is 11 days longer than last year and 12 days shorter than pre-pandemic listing periods from July between 2017 and 2019.
To determine the markets where homes sell the fastest, 24/7 Wall St. reviewed Realtor.com’s July 2023 Monthly Housing Market Trends Report, which provides real estate data on the top 50 largest metro areas. We ranked the 50 metro areas by median days on the market in July, that is, by how long it took for a house to sell after it was put on the market. Ties were broken by median list price. All data is from the Realtor.com report. Realtor.com notes that some data in Las Vegas has been excluded.
In the 50 largest metros, the average home spent 39 days on the market, with homes in the South seeing the largest average increase in days on the market compared to last year, especially in the Miami; Austin, Texas; San Antonio; and Raleigh, North Carolina metro areas.
Metros where houses spent the fewest days on the market include Rochester, New York, and Hartford, Connecticut, in the Northeast; Columbus, Ohio, and Milwaukee in the Midwest; and San Diego and San Jose, California in the West.
List prices increased on average in all regions, with metros in the Midwest having the highest growth in list prices. Active listing prices in Los Angeles and San Diego also increased over 21% each. The cost of housing has skyrocketed in these major U.S. cities.
Click here to see the city where homes sell the fastest.
Source: ULora / iStock via Getty Images
50. Miami-Fort Lauderdale-Pompano Beach, FL
> Median days on market, July 2023: 64
> Change in median days YoY: +24 days
> Median listing price, July 2023: $602,000 (#12 highest of the 50 metros)
> Change in median list price YoY: -2.9%
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Source: benedek / iStock Unreleased via Getty Images
49. New Orleans-Metairie, LA
> Median days on market, July 2023: 60
> Change in median days YoY: +18 days
> Median listing price, July 2023: $340,000 (#41 highest of the 50 metros)
> Change in median list price YoY: -0.8%
Source: TomasSereda / iStock via Getty Images
48. New York-Newark-Jersey City, NY-NJ-PA
> Median days on market, July 2023: 54
> Change in median days YoY: +10 days
> Median listing price, July 2023: $738,000 (#7 highest of the 50 metros)
> Change in median list price YoY: 11.9%
Source: Kruck20 / iStock via Getty Images
47. San Antonio-New Braunfels, TX
> Median days on market, July 2023: 50
> Change in median days YoY: +19 days
> Median listing price, July 2023: $365,000 (#37 highest of the 50 metros)
> Change in median list price YoY: -3.9%
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Source: Art Wager / E+ via Getty Images
46. Jacksonville, FL
> Median days on market, July 2023: 50
> Change in median days YoY: +17 days
> Median listing price, July 2023: $435,000 (#27 highest of the 50 metros)
> Change in median list price YoY: 1.9%
Source: walencienne / iStock via Getty Images
45. Kansas City, MO-KS
> Median days on market, July 2023: 50
> Change in median days YoY: +10 days
> Median listing price, July 2023: $443,000 (#24 highest of the 50 metros)
> Change in median list price YoY: 12.2%
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Source: dszc / E+ via Getty Images
44. Austin-Round Rock-Georgetown, TX
> Median days on market, July 2023: 50
> Change in median days YoY: +20 days
> Median listing price, July 2023: $575,000 (#15 highest of the 50 metros)
> Change in median list price YoY: -4.1%
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43. Pittsburgh, PA
> Median days on market, July 2023: 47
> Change in median days YoY: +8 days
> Median listing price, July 2023: $249,000 (#49 highest of the 50 metros)
> Change in median list price YoY: 3.8%
Source: felixmizioznikov / iStock via Getty Images
42. Tampa-St. Petersburg-Clearwater, FL
> Median days on market, July 2023: 46
> Change in median days YoY: +17 days
> Median listing price, July 2023: $449,000 (#23 highest of the 50 metros)
> Change in median list price YoY: 0.9%
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Source: Kruck20 / iStock via Getty Images
41. Orlando-Kissimmee-Sanford, FL
> Median days on market, July 2023: 46
> Change in median days YoY: +16 days
> Median listing price, July 2023: $460,000 (#21 highest of the 50 metros)
> Change in median list price YoY: -0.9%
Source: Sean Pavone / iStock via Getty Images
40. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
> Median days on market, July 2023: 45
> Change in median days YoY: +7 days
> Median listing price, July 2023: $350,000 (#38 highest of the 50 metros)
> Change in median list price YoY: 1.4%
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Source: LPETTET / iStock via Getty Images
39. Las Vegas-Henderson-Paradise, NV*
> Median days on market, July 2023: 45
> Change in median days YoY: +N/A days
> Median listing price, July 2023: $460,000 (#21 highest of the 50 metros)
> Change in median list price YoY: N/A
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Source: photoquest7 / iStock via Getty Images
38. Phoenix-Mesa-Chandler, AZ
> Median days on market, July 2023: 45
> Change in median days YoY: +15 days
> Median listing price, July 2023: $540,000 (#17 highest of the 50 metros)
> Change in median list price YoY: 2.8%
Source: MattGush / iStock via Getty Images
37. Riverside-San Bernardino-Ontario, CA
> Median days on market, July 2023: 45
> Change in median days YoY: +9 days
> Median listing price, July 2023: $585,000 (#14 highest of the 50 metros)
> Change in median list price YoY: -1.8%
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Source: TennesseePhotographer / iStock via Getty Images
36. Birmingham-Hoover, AL
> Median days on market, July 2023: 44
> Change in median days YoY: +14 days
> Median listing price, July 2023: $299,000 (#44 highest of the 50 metros)
> Change in median list price YoY: -0.2%
Source: benedek / iStock via Getty Images
35. Memphis, TN-MS-AR
> Median days on market, July 2023: 44
> Change in median days YoY: +14 days
> Median listing price, July 2023: $325,000 (#42 highest of the 50 metros)
> Change in median list price YoY: 1.6%
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Source: Sean Pavone / iStock via Getty Images
34. Oklahoma City, OK
> Median days on market, July 2023: 43
> Change in median days YoY: +6 days
> Median listing price, July 2023: $347,000 (#39 highest of the 50 metros)
> Change in median list price YoY: 10.2%
Source: ferrantraite / E+ via Getty Images
33. Richmond, VA
> Median days on market, July 2023: 43
> Change in median days YoY: +7 days
> Median listing price, July 2023: $439,000 (#26 highest of the 50 metros)
> Change in median list price YoY: 12.6%
Source: Kruck20 / iStock via Getty Images
32. Raleigh-Cary, NC
> Median days on market, July 2023: 42
> Change in median days YoY: +19 days
> Median listing price, July 2023: $470,000 (#18 highest of the 50 metros)
> Change in median list price YoY: -5.1%
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Source: Ryan Herron / E+ via Getty Images
31. Los Angeles-Long Beach-Anaheim, CA
> Median days on market, July 2023: 41
> Change in median days YoY: +8 days
> Median listing price, July 2023: $1,195,000 (#2 highest of the 50 metros)
> Change in median list price YoY: 23.2%
Source: Sean Pavone / iStock via Getty Images
30. Houston-The Woodlands-Sugar Land, TX
> Median days on market, July 2023: 40
> Change in median days YoY: +7 days
> Median listing price, July 2023: $376,000 (#34 highest of the 50 metros)
> Change in median list price YoY: -3.6%
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Source: novikat / iStock via Getty Images
29. Atlanta-Sandy Springs-Alpharetta, GA
> Median days on market, July 2023: 40
> Change in median days YoY: +11 days
> Median listing price, July 2023: $435,000 (#27 highest of the 50 metros)
> Change in median list price YoY: -0.9%
Source: Ed Jackson / iStock via Getty Images
28. Cleveland-Elyria, OH
> Median days on market, July 2023: 39
> Change in median days YoY: +4 days
> Median listing price, July 2023: $245,000 (#50 highest of the 50 metros)
> Change in median list price YoY: 8.9%
Source: Kruck20 / iStock via Getty Images
27. Charlotte-Concord-Gastonia, NC-SC
> Median days on market, July 2023: 39
> Change in median days YoY: +9 days
> Median listing price, July 2023: $440,000 (#25 highest of the 50 metros)
> Change in median list price YoY: 2.3%
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Source: DenisTangneyJr / E+ via Getty Images
26. Buffalo-Cheektowaga, NY
> Median days on market, July 2023: 38
> Change in median days YoY: +8 days
> Median listing price, July 2023: $268,000 (#47 highest of the 50 metros)
> Change in median list price YoY: 7.2%
25. St. Louis, MO-IL
> Median days on market, July 2023: 38
> Change in median days YoY: +3 days
> Median listing price, July 2023: $289,000 (#45 highest of the 50 metros)
> Change in median list price YoY: 5.1%
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Source: Sean Pavone / iStock via Getty Images
24. Indianapolis-Carmel-Anderson, IN
> Median days on market, July 2023: 38
> Change in median days YoY: +8 days
> Median listing price, July 2023: $347,000 (#39 highest of the 50 metros)
> Change in median list price YoY: 6.9%
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Source: jbentley09 / iStock via Getty Images
23. Portland-Vancouver-Hillsboro, OR-WA
> Median days on market, July 2023: 38
> Change in median days YoY: +8 days
> Median listing price, July 2023: $640,000 (#10 highest of the 50 metros)
> Change in median list price YoY: 6.8%
Source: Kruck20 / iStock via Getty Images
22. Baltimore-Columbia-Towson, MD
> Median days on market, July 2023: 37
> Change in median days YoY: +3 days
> Median listing price, July 2023: $375,000 (#35 highest of the 50 metros)
> Change in median list price YoY: 5.6%
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Source: dibrova / iStock via Getty Images
21. Dallas-Fort Worth-Arlington, TX
> Median days on market, July 2023: 37
> Change in median days YoY: +8 days
> Median listing price, July 2023: $470,000 (#18 highest of the 50 metros)
> Change in median list price YoY: -2.1%
Source: JaySi / iStock via Getty Images
20. Chicago-Naperville-Elgin, IL-IN-WI
> Median days on market, July 2023: 36
> Change in median days YoY: +4 days
> Median listing price, July 2023: $389,000 (#32 highest of the 50 metros)
> Change in median list price YoY: 11.1%
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Source: Davel5957 / E+ via Getty Images
19. Minneapolis-St. Paul-Bloomington, MN-WI
> Median days on market, July 2023: 36
> Change in median days YoY: +4 days
> Median listing price, July 2023: $461,000 (#20 highest of the 50 metros)
> Change in median list price YoY: 8.5%
Source: Manny Chavez / iStock via Getty Images
18. Sacramento-Roseville-Folsom, CA
> Median days on market, July 2023: 36
> Change in median days YoY: +4 days
> Median listing price, July 2023: $677,000 (#8 highest of the 50 metros)
> Change in median list price YoY: 7.5%
Source: benedek / iStock via Getty Images
17. Boston-Cambridge-Newton, MA-NH
> Median days on market, July 2023: 36
> Change in median days YoY: +10 days
> Median listing price, July 2023: $850,000 (#5 highest of the 50 metros)
> Change in median list price YoY: 14.9%
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Source: StuartDuncanSmith / iStock via Getty Images
16. Providence-Warwick, RI-MA
> Median days on market, July 2023: 35
> Change in median days YoY: +6 days
> Median listing price, July 2023: $550,000 (#16 highest of the 50 metros)
> Change in median list price YoY: 14.6%
Source: LUNAMARINA / iStock via Getty Images
15. Washington-Arlington-Alexandria, DC-VA-MD-WV
> Median days on market, July 2023: 34
> Change in median days YoY: +3 days
> Median listing price, July 2023: $635,000 (#11 highest of the 50 metros)
> Change in median list price YoY: 9.5%
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Source: tifonimages / iStock via Getty Images
14. San Francisco-Oakland-Berkeley, CA
> Median days on market, July 2023: 34
> Change in median days YoY: +4 days
> Median listing price, July 2023: $1,100,000 (#3 highest of the 50 metros)
> Change in median list price YoY: 0.2%
Source: aabejon / iStock via Getty Images
13. Virginia Beach-Norfolk-Newport News, VA-NC
> Median days on market, July 2023: 33
> Change in median days YoY: +7 days
> Median listing price, July 2023: $395,000 (#31 highest of the 50 metros)
> Change in median list price YoY: 12.8%
Source: Kruck20 / iStock via Getty Images
12. Nashville-Davidson-Murfreesboro-Franklin, TN
> Median days on market, July 2023: 33
> Change in median days YoY: +12 days
> Median listing price, July 2023: $595,000 (#13 highest of the 50 metros)
> Change in median list price YoY: 8.2%
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Source: LoweStock / iStock via Getty Images
11. Seattle-Tacoma-Bellevue, WA
> Median days on market, July 2023: 33
> Change in median days YoY: +5 days
> Median listing price, July 2023: $815,000 (#6 highest of the 50 metros)
> Change in median list price YoY: 3.2%
Source: pawel.gaul / E+ via Getty Images
10. Detroit-Warren-Dearborn, Mich.
> Median days on market, July 2023: 32
> Change in median days YoY: +4 days
> Median listing price, July 2023: $269,000 (#46 highest of the 50 metros)
> Change in median list price YoY: -3.9%
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Source: Sean Pavone / iStock via Getty Images
9. Louisville/Jefferson County, KY-IN
> Median days on market, July 2023: 31
> Change in median days YoY: +7 days
> Median listing price, July 2023: $325,000 (#42 highest of the 50 metros)
> Change in median list price YoY: 8.3%
Source: pawel.gaul / E+ via Getty Images
8. Cincinnati, OH-KY-IN
> Median days on market, July 2023: 31
> Change in median days YoY: +6 days
> Median listing price, July 2023: $383,000 (#33 highest of the 50 metros)
> Change in median list price YoY: 21.7%
Source: milehightraveler / iStock via Getty Images
7. Denver-Aurora-Lakewood, CO
> Median days on market, July 2023: 31
> Change in median days YoY: +8 days
> Median listing price, July 2023: $675,000 (#9 highest of the 50 metros)
> Change in median list price YoY: 3.8%
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Source: f11photo / iStock via Getty Images
6. San Diego-Chula Vista-Carlsbad, CA
> Median days on market, July 2023: 31
> Change in median days YoY: +1 days
> Median listing price, July 2023: $1,098,000 (#4 highest of the 50 metros)
> Change in median list price YoY: 22.0%
Source: DenisTangneyJr / iStock via Getty Images
5. San Jose-Sunnyvale-Santa Clara, CA
> Median days on market, July 2023: 30
> Change in median days YoY: +1 days
> Median listing price, July 2023: $1,498,000 (#1 highest of the 50 metros)
> Change in median list price YoY: 7.0%
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Source: peeterv / iStock via Getty Images
4. Milwaukee-Waukesha, WI
> Median days on market, July 2023: 29
> Change in median days YoY: +0 days
> Median listing price, July 2023: $375,000 (#35 highest of the 50 metros)
> Change in median list price YoY: 15.4%
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Source: Davel5957 / iStock via Getty Images
3. Columbus, OH
> Median days on market, July 2023: 25
> Change in median days YoY: +4 days
> Median listing price, July 2023: $399,000 (#30 highest of the 50 metros)
> Change in median list price YoY: 15.0%
Source: SeanPavonePhoto / iStock via Getty Images
2. Hartford-East Hartford-Middletown, CT
> Median days on market, July 2023: 23
> Change in median days YoY: +-1 days
> Median listing price, July 2023: $435,000 (#27 highest of the 50 metros)
> Change in median list price YoY: 14.8%
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Source: DenisTangneyJr / iStock via Getty Images
1. Rochester, NY
> Median days on market, July 2023: 15
> Change in median days YoY: +-1 days
> Median listing price, July 2023: $259,000 (#48 highest of the 50 metros)
> Change in median list price YoY: 10.5%
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