Average days on market differ from city to city, but according to Movoto.com, Miami listings' average days on market has decreased.

By Stephanie Sims
How fast agents sell homes depends on a number of things – location, condition of the property, foreclosure/short sale status and the state of the market. But a hugely important indicator is how many days a listing is on the market, which is directly linked to the number of consumers looking for a new home.

When Movoto Real Estate looked at nine of the 10 largest cities in the U.S., the company discovered that compared to a year ago, houses now sell 12 days faster. This time last year, it took 72 days for a house to sell, and today it takes 60 days. Miami has experienced a dramatic decrease in terms of properties staying on the market. Twelve months ago, Miami’s days on market stood at 318 days. Today, this figure is at 91 days. This is a staggering 71 percent decrease.

A year ago, Miami’s days on market stood at 318 days. Today, this figure is at 91 days.

This evidence supports recent reports that multiple offers are now being received, and is a strong indicator that competition for homes available will increase. In a market with increasing competition, this leads to higher prices, an increasing number of cash offers and a decrease in days on market for listings.