Home sellers in more than a dozen U.S. markets are finding they have to be a bit more patient, according to a new report.
Realtor.com says that as of October, homes for sale had lingered on the market longer in 16 of the 50 biggest U.S. metros than those sold October did.
In these places, homes no longer are being snapped up seemingly overnight, as they were during the recent housing boom. That is good news for homebuyers, even as it causes some angst for sellers.
Here are the markets where homes now take longer to sell.
1. New Orleans-Metairie, Louisiana
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 67 days — which reflects a year-over-year increase of nine days
- Were listed for a median price of $335,000
New Orleans is famous for jazz music. But in 1770, it also became the first city in the United States to host an opera performance.
2. Austin-Round Rock-Georgetown, Texas
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 60 days — which reflects a year-over-year increase of four days
- Were listed for a median of $550,000
Forget MTV: The city of Austin, Texas, is home to the nation’s longest-running music television program, “Austin City Limits.” It debuted in 1947 and featured a performance by Willie Nelson.
3. San Antonio-New Braunfels, Texas
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 56 days — which reflects a year-over-year increase of four days
- Were listed for a median of $347,000
Not only is San Antonio home to the Alamo — originally called the Mission San Antonio de Valero — but you will find four more Spanish colonial missions in this Texas city: Mission San Jose, Mission Espada, Mission San Juan Capistrano and Mission Concepcion.
4. Birmingham-Hoover, Alabama
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 51 days — which reflects a year-over-year increase of five days
- Were listed for a median of $295,000
The city of Birmingham, Alabama, is the only place in the world where all the elements necessary to make iron — coal, iron ore and limestone — are found in the same place.
5. Memphis, Tennessee-Mississippi-Arkansas
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 50 days — which reflects a year-over-year increase of five days
- Were listed for a median of $319,000
Memphis is also known as “America’s distribution center” due to the its access to the four “R’s” of logistics: runway, rail, river and road. The Tennessee city is home to air cargo and passenger hubs, five Class I railroads and the fourth-largest inland port in the U.S., and four interstate highways crisscross it.
6. Portland-Vancouver-Hillsboro, Oregon-Washington
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 48 days — which reflects a year-over-year increase of four days
- Were listed for a median of $620,000
If you love beer, Portland, Oregon, is a little slice of heaven: It has more than 60 breweries — more than any other city in the United States.
7. Dallas-Fort Worth-Arlington, Texas
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 46 days — which reflects a year-over-year increase of two days
- Were listed for a median of $449,000
Dallas is the ninth-largest city in the United States, but just the third-largest in Texas. The populations of both Houston and San Antonio top the number of people in Big D.
8. St. Louis, Missouri-Illinois
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 42 days — which reflects a year-over-year increase of one day
- Were listed for a median of $277,000
St. Louis was home to the nation’s first gas station. Alas, the Missouri city also has the dubious honor of having been the site of America’s first traffic accident.
9. Denver-Aurora-Lakewood, Colorado
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 41 days — which reflects a year-over-year increase of four days
- Were listed for a median of $635,000
Denver has fully earned its nickname as the Mile High City: A step on the Colorado Capitol marks the spot where the elevation is 5,280 feet — exactly 1 mile — above sea level.
10. Richmond, Virginia
As of October, homes sold in this metropolitan area:
- Were on the market for a median of 41 days — which reflects a year-over-year increase of one day
- Were listed for a median of $435,000
Next time you pop a cold one, make a toast to Richmond. Canned beer made its debut in Virginia’s capital city in 1935.
Other major markets where homes are taking longer to sell
Here are the rest of the 16 markets where, as of October, homes lingered longer on the market before being sold:
- Detroit-Warren-Dearborn, Michigan: Median of 40 days on the market — which reflects a year-over-year (YOY) increase of one day
- Virginia Beach-Norfolk-Newport News, Virginia-North Carolina: 39 days — a YOY increase of two days
- Nashville-Davidson-Murfreesboro-Franklin, Tennessee: 37 days — a YOY increase of six days
- Hartford-East Hartford-Middletown, Connecticut: 37 days — a YOY increase of five days
- Boston-Cambridge-Newton, Massachusetts-New Hampshire: 32 days — a YOY increase of one day
- Columbus, Ohio: 31 days — a YOY increase of 1 day
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