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24/7 Wall St.: American Cities Where Homes Sell Fastest

1. Oakland, Calif.

Average no. of days on market: 24
Median home price: $379,000 (12th highest)
Population: 4,335,391 (16th highest)

If you want a house in Oakland, you had better grab it while it’s hot. The average house in Oakland is sold 24 days after its been on the market, the fastest of all metro areas by a sizable nine days. From the time housing prices peaked in the first quarter of 2006 to the fourth quarter of 2011, home prices plummeted 45.9%, significantly higher than the U.S. average of 34.2%. Still, that is better than its California counterparts of Bakersfield and Fresno, where housing prices plunged 58.3% and 54.7%, respectively. Only 3,547 houses were on the market for an area population of 4,335,391 (which includes San Francisco area). The number of available homes declined 57.92% compared to the year earlier period.

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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