San Diego was the 8th “hottest” real estate market in March, with the typical home taking just 38 days to sell, according to Realtor.com.
The official website of the National Association of Realtors said California led the United States with six of the top 10 real estate markets.
Nationwide a home is typically on the market for 69 days — eight days less than this time last year. It’s much less in California, however, with homes in booming Silicon Valley homes typically selling after just 25 days.
“Calendars might say spring is only a week old, but we’re already in the thick of the most frenzied spring home buying season on record,” said Javier Vivas, manager of economic research at Realtor.com.
“The median days on market for homes on Realtor.com in March saw the biggest drop since the end of the recession,” he added. “Low inventory continues to be a significant problem, but record-high prices are also keeping waves of buyers at bay.”
Prices hit record highs across the country in March, according to Realtor.com, while for-sale inventory remained at a historic low.
