In recent years, Colorado home sellers have reaped the rewards of sky-rocketing appreciation and lightning-fast selling times. Now, a new study confirms that Colorado is among the best places to sell a home—with Aurora ranking number one nationwide.
SmartAsset looked at 165 of the largest cities in the country, computing the five-year change in median home value; average number of days on the market; percentage of homes sold for a loss; closing costs, and real estate offices per 100,000 residents.”
In addition to Aurora, three other Colorado cities ranked in the top ten of SmartAsset’s “Best Cities to Sell a House” list: Lakewood, Arvada and Denver, ranking at 3, 5 and 6 respectively.
SmartAsset found that Western cities fare best in selling homes. Others on the top ten list are in Arizona, Nevada and Washington. “[T]he first non-Western city to enter the study is Richardson, Texas at No. 29,” notes SmartAsset.
Despite this, California, has dropped significantly in its favorability rating. In the 2019 study, four California cities made the top ten. This year, all dropped off, although still ranking in the top fifth of the study.
Another notable finding: while the average number of days a home stays on the market in the top ten cities is 49, it takes twice as long to sell a home in the bottom ten – 104 days.