Austin is one of the hottest home selling markets based on the number of contracts signed within 24 hours of listing.
High tech brokerage firm Redfin conducted a study of so-called “flash sales,” and Austin had the fifth most in the U.S. during the past five months with 163. Phoenix had the most with 540, far more than the second place market, which was Chicago with 261. Houston was third with 188 and Dallas was fourth with 184.
The ranking is based on multiple listing service data, public records and other information culled by Redfin agents.
An inventory shortage combined with high demand have fueled the flash sales.
Austin is also a top market to find an affordable home. ZipRealty Inc. ranked Austin No. 7 on its list. Dallas-Fort Worth took the No. 1 spot as best market for finding a housing bargain.
Jan Buchholz, Austin Business Journal.