(Thomson Reuters ONE via COMTEX) --FOR IMMEDIATE RELEASE
Media Contact: Stacey Corso
A wealth of data on ZipRealty's website and mobile app helps consumers buy homes in these competitive markets.
EMERYVILLE, Calif., July 24, 2014 - ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online residential real estate brokerage and provider of technology and marketing solutions, has released new data analyzing the fastest-moving housing markets, and released new research on how consumers might increase their chances of buying a home in these competitive markets.
ZipRealty analyzed housing market trends in 23 metro areas at the end of the second quarter. The median days on market in these metros remained relatively steady at 29 days, compared to 27 days as of June 30, 2013. The fastest-moving markets at the end of the second quarter were:
- Austin - 10 days
- Washington, D.C./Northern Virginia - 14 days
- Dallas, Portland and Denver - 15 days
- Houston and Seattle - 17 days
- Sacramento and Boston - 19 days
Median sales price leaders as of the end of Q2 were:
- Las Vegas - $182,000, 12% year-over-year increase
- Houston - $215,000, 12% year-over-year increase
- Orlando - $154,000, 11% increase
Engaging on Multiple Devices Helps
"As prices continue to rise and for sale housing inventory remains low, serious buyers need as much intelligence as possible about the housing market," said ZipRealty CEO Lanny Baker. "We've developed a variety of tools to help consumers compete when bidding on a for sale home. Our latest Housing Trends Report, data on multi-platform home searches and ZipRealty's 2014 Home Buyer Survey are just some of the tools that give consumers real-time insight into how to quickly close transactions."
An August 2013 Google Consumer Survey revealed that 90% of consumers begin their home search on the Internet, with nearly half of those people starting that search on their phone.
According to ZipRealty research, buyers who use a combination of mobile and desktop to buy a home are:
- 6 times more likely to request a showing from a real estate agent
- Visit nearly twice as many homes with the same agent as those searching on a desktop platform alone
- 4 times more likely to buy a home, compared to buyers who only use desktop to search for real estate, and they close on average 1 month faster.
In addition to using multiple devices to search for a home, consumers are increasingly utilizing multiple devices to research neighborhoods, real estate agents, local housing market trends and other real estate-related information. According to ZipRealty's 2014 Home Buyer Survey:
- 59% of home buyers want to read about cities/neighborhoods when searching for a home
- 45% want to read about local housing market trends.
About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry. For home buyers and sellers who increasingly want control, choice and a seamless, customized service, ZipRealty offers Internet-enabled, state-of-the-art technology and complete access to accurate, timely information via its website and mobile applications, which real estate professionals can combine with their own local knowledge and personal expertise to offer an exceptional start-to-finish client experience. For real estate professionals who seek more productive ways to conduct business, ZipRealty provides technology and online marketing tools to enhance their online sales channel, including lead generation, conversion and service of their clients. ZipRealty's technology and online marketing products serve its full-service, owned-and-operated residential real estate brokerage business in 19 markets nationwide, as well as its Powered by Zip network of leading third-party local brokerages in 21 markets.
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