If you had to guess what the most competitive housing market in the U.S. is, you’d likely choose a major metro area like San Francisco or New York — but a new Redfin analysis found that it’s actually a suburb in western New York State.
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Based on the analysis of housing supply, sale-to-list ratio and average days on the market, Irondequoit, New York, a suburb of Rochester, is the most competitive housing market in the U.S. Homes there typically sell in just 8.5 days, and more than half (51.5%) of the homes sold sell for above their listing price.
Here’s a look at the other housing markets that round out Redfin’s list of the most competitive.
1. Irondequoit, New York
- Median sale price: $249,132
- Months of supply: 0.6
- Sale-to-list ratio: 119.3%
- Median days on market: 8.5
- Share of homes sold above list price: 51.5%
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2. Sunnyvale, California
- Median sale price: $2,671,373
- Months of supply: 0.8
- Sale-to-list ratio: 110.2%
- Median days on market: 9.6
- Share of homes sold above list price: 37.4%
3. Santa Clara, California
- Median sale price: $1,988,297
- Months of supply: 0.8
- Sale-to-list ratio: 108.2%
- Median days on market: 10.1
- Share of homes sold above list price: 31.3%
4. Tonawanda Town, New York
- Median sale price: $269,978
- Months of supply: 0.8
- Sale-to-list ratio: 109.2%
- Median days on market: 11.3
- Share of homes sold above list price: 15.4%
5. Mountain View, California
- Median sale price: $2,654,896
- Months of supply: 0.9
- Sale-to-list ratio: 107.1%
- Median days on market: 10.3
- Share of homes sold above list price: 80.2%
6. North Tonawanda, New York
- Median sale price: $245,732
- Months of supply: 1
- Sale-to-list ratio: 108.4%
- Median days on market: 11.5
- Share of homes sold above list price: 36.7%
7. Crestwood, Missouri
- Median sale price: $340,845
- Months of supply: 0.8
- Sale-to-list ratio: 103.7%
- Median days on market: 9.8
- Share of homes sold above list price: 76.4%
8. Elizabethtown, Pennsylvania
- Median sale price: $343,385
- Months of supply: 0.9
- Sale-to-list ratio: 103.9%
- Median days on market: 10
- Share of homes sold above list price: 42.9%
9. Melrose, Massachusetts
- Median sale price: $1,003,400
- Months of supply: 0.9
- Sale-to-list ratio: 108.6%
- Median days on market: 13.9
- Share of homes sold above list price: 48.3%
10. San Mateo, California
- Median sale price: $2,026,814
- Months of supply: 1
- Sale-to-list ratio: 106.2%
- Median days on market: 12.1
- Share of homes sold above list price: 47.2%
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This article originally appeared on GOBankingRates.com: This New York Suburb Is America’s Most Competitive Housing Market
