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Bank of America WeeklyWrapTM

Week of June 19, 2017


Seller's market index by state

Seller's market index by state

The map above illustrates the strength of each state's real estate market on the following scale: very weak seller's, weak seller's, neutral, seller's or strong seller's market. The ranking is based on that state's current inventory and average days on market. Homes are more likely to sell above asking price in seller's markets and below asking price in weak seller's markets.

California and Washington are two top strong seller's markets, likely due to their highly desirable characteristics including temperate weather, strong labor markets and steady economic growth.

State Market type
Alabama Neutral market
Alaska No data
Arizona Seller's market
Arkansas Seller's market
California Strong seller's market
Colorado No data
Connecticut Very weak seller's market
Delaware Seller's market
District of Columbia No data
Florida Seller's market
Georgia Seller's market
Hawaii Seller's market
Idaho Strong seller's market
Illinois Seller's market
Indiana Seller's market
Iowa Seller's market
Kansas No data
Kentucky Seller's market
Louisiana Seller's market
Maine Seller's market
Maryland No data
Massachusetts No data
Michigan Strong seller's market
Minnesota Strong seller's market
Mississippi No data
Missouri Seller's market
State Market type
Montana No data
Nebraska Seller's market
Nevada Strong seller's market
New Hampshire Seller's market
New Jersey Neutral market
New Mexico No data
New York Neutral market
North Carolina Seller's market
North Dakota No data
Ohio Seller's market
Oklahoma Seller's market
Oregon No data
Pennsylvania Seller's market
Rhode Island Seller's market
South Carolina Neutral market
South Dakota Seller's market
Tennessee No data
Texas Seller's market
Utah No data
Vermont Weak seller's market
Virginia Seller's market
Washington Strong seller's market
West Virginia Weak seller's market
Wisconsin Seller's market
Wyoming No data
The table similarly provides a breakdown of the strength of seller's markets by state. Most states in the West and Midwest regions are seller's and strong seller's markets. Conversely, many states in the Northeast region are neutral or weak seller's states. Connecticut is the only very weak seller's market, possibly due to the state's slow economic growth.

Source data: CoreLogic®
Data date: 05/25/2017

U.S. metro areas with greatest median sales price increases

U.S. metro areas with greatest median sales price increases month-over-month

This graph looks at the top ten metropolitan areas with the greatest month-over-month changes in median sales price for March 2017. Baltimore-Columbia-Towson, Maryland; Pittsburgh, Pennsylvania; and Philadelphia, Pennsylvania had the top month-over-month price increases, reaching above 17%. Overall, the top ten metropolitan areas had relatively high median sales price increases of more than 8%.

U.S. metro areas Month-over-month
price change
Baltimore-Columbia-Towson, MD 25.60%
Pittsburgh, PA 19.49%
Philadelphia, PA 17.92%
Gary, IN 16.81%
New York-Jersey City-White Plains, NY-NJ 9.07%
Orlando-Kissimmee-Sanford, FL 8.97%
Miami-Miami Beach-Kendall, FL 8.82%
Raleigh, NC 8.56%
Charlotte-Concord-Gastonia, NC-SC 8.56%
Pensacola-Ferry Pass-Brent, FL 8.49%

The table above provides another way to view the month-over-month price change by metropolitan area. While Northeastern states are typically buyer's markets, metropolitan areas in Maryland, Pennsylvania and New York-New Jersey had some of the greatest median sales price increases month-over-month. Overall, the majority of the metro areas were from the East Coast, suggesting that housing price growth is slowly rising in this part of the country.

Source data: CoreLogic®
Data date: 04/28/2017

#TomFerryShow episode 118:
Sales Jedi mind tricks — advanced persuasion tactics to influence people

Tom Ferry
Tom Ferry is the CEO and Founder of Tom Ferry — Your Coach, the nation's fastest growing real estate coaching organization in North America.footnote 1 Watch this week's Tip of the Week video for resources and strategies to help drive your business to new levels.

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footnote 1The 2013 Inc. 5,000 List, Inc. Magazine, 2013.

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