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Denver Was Fastest Moving Market in the U.S. in January

Half of the homes for sale in the Colorado city went into contract in 23 days

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Denver ranked the fastest moving market in January.

Helen H. Richardson/Getty Images
Denver ranked the fastest moving market in January.
Helen H. Richardson/Getty Images

Denver replaced Seattle as the fastest moving housing market in the United States in January, with half of the homes on sale entering into contract in just 23 days, which was 20 days faster than a year ago, according to a report released Thursday by Redfin.

Ranked second was Seattle, where it took 26 days for a residential property to sell. Last December, the city in Washington state was the No.1 moving market among the 90 metro areas Redfin tracked, with median days of homes on the market standing at 19. 


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Denver, posting a median of 22 days on the market was the third fastest moving market in December.

Nationwide, it typically took 59 days for a home to sell in January, seven days faster than last year.

Snapshots of Fastest U.S. Moving Markets
City Median Sales Price Number of Sales Median Days on Market
Denver, CO $347,000 3,481 23
Seattle, WA $440,000 2,790 26
Oakland, CA $580,000 1,496 27
Nationwide $261,100 171,000 59
Source: Redfin

The faster pace was achieved along with increases both in prices and the number of sales. The median home sale price rose 7% to $261,100, while sales were up 5.6% to 171,000 units, according to Redfin.

"Buyers jumped through three hurdles last month: rising prices, low inventory and a fast market," Nela Richardson, chief economist at Redfin, said in the report. "Sellers, however, are still warming the bench, as the supply picture looks weaker than demand."

The report did not offer a separate breakdown for the luxury market.

In January, there were 666,700 homes on the market across the U.S., down 12% from the same period last year.

Looking ahead, major cities on the west coast are more likely to see price growth, as indicated by competitiveness in the market, according to the report. In California’s San Jose, Oakland and San Francisco, 48.8%, 48.5% and 47.7% homes, respectively, sold above their listing prices. Seattle and Tacoma in Washington also saw 37.3% and 34.4% homes changing hands at prices higher than what the buyers asked.