Which NC City is Selling the Fastest?

It might not seem like it at the moment but all signs are pointing to what experts are referring to as, “The Great Real Estate Slowdown.” With everyone desperate to get a grip on the wild U.S. housing market, we’re looking to the numbers to help us make sense of it all. There are always lots of real estate metrics to follow but one worth focusing on right now is days on market. Essentially, how long are homes taking to sell? 

This ‘days on market’ number has varied wildly during the pandemic and absolutely set records for how fast homes were selling. Up until recently, the average was still staggeringly low compared to times when the market has been healthy. The “turbocharged frenzy,” as Realtor.com puts it, happened last 2021 and early 2022 when the median time on market was just 21 days. Keep in mind, this number is the median. There were some markets where homes were selling even faster. Sometimes in a matter of mere hours. 

The Great Slowdown

According to research data from the month of May, this number has expanded just a little bit. The current median number of days on market for an American home stands at 31 days. A full month. 

Cities tend to have fewer days on market than more rural areas, just given population and demand. Even with this seeming “cool down,” there are still 10 major metropolitan areas around the US experiencing days on market less than the current 31 day average. In fact, one such city is located in North Carolina. Is it Charlotte? 

No. The city in question happens to be our neighbor to the east: Raleigh-Durham. They claim the No. 2 spot in the current Top 10 list of metros with the fewest days on market. What is Raleigh-Durham’s current average? Just 9 days on market. 

Visit Realtor.com to view the complete Top 10 list.