Quick, make an offer! 5 cities where homes sold the fastest — and the 5 slowest

Paul Davidson | USA TODAY

Show Caption Hide Caption This is the hottest housing market in the U.S. Prices are up 12.7%.

Buying a home has turned into a version of the TV game show Jeopardy! — if you don’t act with lightning speed, you lose.

U.S. homes that sold in April — meaning final contracts were signed — were listed an average of just 64 days, the fastest turnaround since the housing crash and recession from 2007 to 2009, according to the latest figures from real estate research firm Trulia.

That’s down from the previous low of 71 days, set last July. Compare those numbers to April 2010, when houses languished for 137 days before sales were completed.

That period includes not only time between a house being listed and an offer accepted, but the entire process — inspection, appraisal and loan approval, which sometimes results in renegotiated offers and canceled sales.

When it comes to just the period between when a house was listed for sale and when an offer to buy was accepted, the average in April was a scant 26 days, also a post-recession low, Trulia found.

“Things are moving quickly,” Trulia housing economist Felipe Chacon says. “You need to have your ducks in a row.”

A strong job market that’s fueling demand and near-record low supplies of homes for sale is forcing house hunters to make offers quickly — sometimes sight unseen.

There was a four-month supply of homes on the market in April compared to a normal six-month inventory, according to the National Association of Realtors

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Here are the five metro areas where homes are moving fastest:

•Seattle: It’s taking just 36 days from listing until the deal is done. In April, home prices were up 19.5% from a year earlier in the technology hub that’s home to giants such as Microsoft and Amazon. Strict zoning regulations make it harder to build new houses, limiting supply.

•San Jose, Calif.: Time to sale: 36 days. This Silicon Valley epicenter was the most competitive housing market in the country in March, with 83.2% of homes sold above list price, according to Redfin. Home prices are up 22% in the past year.

•San Francisco: Time to sale: 36 days. It’s the most expensive housing market in California with the median price topping $1.3 million, up 13.7% from a year ago, according to Trulia. The nosebleed prices are forcing out many residents, but those choosing to stay are snapping up homes.

•Oakland, Calif.: Time to sale: 38 days. The somewhat more affordable market is benefiting from its status as a bedroom community to San Francisco. Home prices are actually down 6.2% annually but still up 50.5% the past five years.

•Denver: Time to sale: 41 days. Another technology hotbed that has seen home prices climb 10% the past year.

In other cities, buyers have the edge and often can take their sweet time before making a bid. Here are the five metro areas where it’s taking the longest to sell homes:

•Syracuse, N.Y.: Time to sale: 144 days. Among the nation’s 100 largest metro areas, it ranked dead last in economic growth from 2010 to 2015, according to the Brookings Institution. Home prices are up 3.5% the past year.

•Long Island, N.Y.: Time to sale: 132 days. Prices are up a respectable 5.8% the past year, but luxury homes may take longer to sell.

•New York: Time to sale: 128 days. The city is beset by a glut of luxury homes. Also, the new tax law limits deductions of interest and taxes on higher-priced houses. Prices are up 5.9% the past year.

•Miami: Time to sale: 115 days. Jobs are growing, but many are in the lower-paying tourism industry, Chacon says. And luxury homes linger on the market.

•Pittsburgh: Time to sale: 99 days. The population has edged down in recent years, and housing prices have been stable with little volatility. Prices are up 5.1% the past year.