The holiday season seem to always take over the month of December - with office parties here and there, and many people flying off to their hometowns, the season always brings the work grind to a pause. That includes real estate too - people who intend to buy a home typically hold off until after the holiday season, while home sellers experience a slowdown in sales.
According to Realtor.com, the residential real estate market had a bit of a battle on December 2015, as demand and inventory in most of the major markets declined.
That time, the median list price was $228,000 - a one percent decrease from November. However, that is a nine percent increase from December 2014's data.
Realtor.com chief economist Jonathan Smoke, along with his team of analysts, identified the top 20 markets (under the medium to large category) where homes are selling the fastest while the interest is at its highest.
"While California closed out our latest ranking still firmly in control of the hottest markets, the Midwest and Florida are both seeing substantial improvement," Smoke said.
He added, "Pent-up demand and robust economic growth combined with limited supply will keep California tight in 2016, but more markets will challenge them as demand improves elsewhere."
As it turns out, these hottest markets have 1.4 to 2.9 times more listing views as compared with the country's average. The homes are able to get off the market 29 to 51 days faster than the rest of the United States.
Check out the list below:
1. San Francisco, California
2. San Jose, California
3. Vallejo, California
4. Dallas, Texas
5. Sacramento, California
6. San Diego, California
7. Denver, Colorado
8. Santa Rosa, California
9. Yuba City, California
10. Stockton, California
11. Los Angeles, California
12. Oxnard, California
13. Nashville, Tennessee
14. Palm Bay, Florida
15. Modesto, California
16. Detroit, Michigan
17. Boulder, Colorado
18. Tampa, Florida
19. Fort Wayne, Indiana
20. Midland, Texas
