SEATTLE, July 2, 2020 /PRNewswire/ -- Homes continue to fly off the market just weeks after they're listed -- faster than any time in at least the past two years, according to Zillow's Weekly Market Report1. That's despite newly pending sales falling week over week for the first time since late May, though they remain well ahead of last month's pace.
Homes Are Going Under Contract at the Fastest Pace in at Least Two Years
List prices continue to climb as more-expensive listings stage a comeback
Newly pending sales slipped week over week for the first time since the end of May, but remain up from the previous month
Inventory Continues to Fall
Metropolitan Area* | Newly Pending Sales - MoM | Newly Pending Sales - WoW | New For-Sale Listings - YoY | New For-Sale Listings - WoW | Total For-Sale Listings - YoY | Median List Price - YoY |
United States | 18.8% | -1.8% | -21.8% | -5.1% | -20.7% | 3.8% |
New York, NY | 74.4% | 5.4% | -2.4% | 3.8% | -26.0% | 2.7% |
Los Angeles-Long Beach-Anaheim, CA | 26.1% | 6.2% | -12.9% | 1.3% | -25.7% | 8.2% |
Chicago, IL | 35.3% | -0.4% | -9.4% | -3.7% | -21.8% | -1.0% |
Dallas-Fort Worth, TX | 0.5% | -0.5% | -18.5% | -4.2% | -13.2% | -0.6% |
Philadelphia, PA | 30.8% | 8.9% | -13.7% | -8.2% | -33.9% | 11.9% |
Houston, TX | 4.3% | -8.5% | -26.3% | -9.3% | -12.4% | 1.1% |
Washington, DC | 4.7% | -7.8% | -23.4% | -0.5% | -32.3% | 9.8% |
Miami-Fort Lauderdale, FL | 23.8% | 0.6% | -10.2% | -7.6% | -9.7% | -0.2% |
Atlanta, GA | 13.6% | 6.4% | -24.4% | -11.3% | -6.0% | -0.5% |
Boston, MA | 14.3% | -5.1% | -16.9% | -3.5% | -25.2% | 7.2% |
San Francisco, CA | 11.2% | -6.2% | 1.6% | -1.8% | -12.3% | 9.2% |
Detroit, MI | 20.7% | -3.4% | -16.6% | -5.7% | -20.5% | 2.6% |
Riverside, CA | 10.2% | -1.2% | -23.7% | -5.2% | -31.9% | 4.7% |
Phoenix, AZ | 3.4% | -7.7% | -15.8% | -1.2% | -23.6% | 7.7% |
Seattle, WA | 6.3% | -4.9% | -20.7% | 13.7% | -38.6% | 5.0% |
Minneapolis-St Paul, MN | 29.7% | -1.2% | -19.2% | -10.0% | -17.4% | 3.5% |
San Diego, CA | N/A | N/A | -19.9% | -8.5% | -31.8% | 6.9% |
St. Louis, MO | 5.5% | -3.6% | -25.7% | -3.2% | -25.9% | 6.7% |
Tampa, FL | N/A | N/A | -15.3% | 1.6% | -20.3% | 1.1% |
Baltimore, MD | 9.0% | 2.5% | -26.0% | -12.7% | -37.5% | 4.1% |
Denver, CO | 6.0% | -6.9% | -25.2% | -1.7% | -17.5% | 5.2% |
Pittsburgh, PA | N/A | N/A | -16.5% | -1.7% | -23.5% | 11.9% |
Portland, OR | 6.7% | -4.9% | -33.6% | 11.5% | -22.6% | 1.2% |
Charlotte, NC | 3.2% | -4.4% | -29.4% | -7.3% | -26.9% | 3.9% |
Sacramento, CA | 30.1% | 3.4% | -15.2% | -9.9% | -20.6% | 2.4% |
San Antonio, TX | N/A | N/A | -23.9% | -13.5% | -8.0% | 1.8% |
Orlando, FL | N/A | N/A | -15.3% | -2.6% | -10.1% | -0.5% |
Cincinnati, OH | 19.6% | 12.2% | -25.3% | 10.0% | -29.6% | 16.6% |
Cleveland, OH | 14.5% | 0.0% | -25.0% | -4.7% | -35.5% | 8.9% |
Kansas City, MO | 10.2% | 4.6% | -26.8% | -8.8% | -30.7% | 11.0% |
Las Vegas, NV | 20.1% | -4.5% | -23.6% | -3.3% | -20.6% | 2.5% |
Columbus, OH | 24.6% | 3.5% | -25.4% | -2.7% | -27.7% | 6.7% |
Indianapolis, IN | -1.1% | -8.5% | -20.2% | 1.6% | -27.4% | 10.0% |
San Jose, CA | 16.5% | 1.6% | -0.3% | 4.3% | -25.9% | 4.7% |
Austin, TX | 7.0% | -5.2% | -23.5% | -4.8% | -14.2% | 7.6% |
Virginia Beach, VA | N/A | N/A | -20.1% | -1.1% | -31.7% | 9.0% |
Nashville, TN | N/A | N/A | -24.2% | -7.8% | -3.7% | 1.3% |
Providence, RI | -2.8% | -9.8% | -24.6% | -5.6% | -30.7% | 7.6% |
Milwaukee, WI | N/A | N/A | -24.3% | -13.6% | -14.2% | 7.4% |
Jacksonville, FL | -3.0% | -5.4% | -18.5% | -4.1% | -17.0% | 1.6% |
Memphis, TN | N/A | N/A | -31.4% | 1.9% | -30.2% | 9.3% |
Oklahoma City, OK | N/A | N/A | -18.6% | -9.1% | -20.1% | 9.8% |
Louisville, KY | 6.7% | -7.6% | -28.1% | -1.3% | -31.4% | 3.0% |
Hartford, CT | 11.5% | 0.1% | -17.9% | -12.2% | -36.5% | 8.1% |
Richmond, VA | N/A | N/A | -31.9% | -3.6% | -22.6% | 8.5% |
New Orleans, LA | 14.9% | 1.2% | -33.9% | -6.2% | -26.3% | 5.2% |
Buffalo, NY | 75.2% | -5.7% | -18.1% | -3.5% | -25.6% | 7.1% |
Raleigh, NC | -2.0% | -5.4% | -31.1% | -10.0% | -22.1% | 2.5% |
Birmingham, AL | 25.2% | 8.1% | -20.4% | -2.9% | -23.7% | 4.8% |
Salt Lake City, UT | -7.2% | -1.9% | -32.0% | -5.9% | -28.9% | 5.4% |
*Table organized by market size |
About Zillow
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1 The Zillow Weekly Market Reports are a weekly overview of the national and local real estate markets. The reports are compiled by Zillow Economic Research and data is aggregated from public sources and listing data on Zillow.com. Newly pending sales and new for-sale listings data reflect daily counts using a smoothed, seven-day trailing average. Total for-sale listings, days to pending and median list price data reflect weekly counts using a smoothed, four-week trailing average. For more information, visit www.zillow.com/research/.
SOURCE Zillow
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