America is in a seller’s market right now with many places having tight inventory and high buyer’s demand. Are you wondering whether it’s a good time to buy a house right now? We took a look at the months of supply of homes – a common metric used by real estate agents to assess whether a market is in a buyer’s market or seller’s market. Below, I’ve compiled a list of metro areas in the US that are currently experiencing a buyer’s market based on February 2024 home sales data.
Is the US in a Buyer’s or Seller’s Market Right Now?
The US is in a seller’s market right now with a 2.7 months of supply of homes. That means there are not enough homes for sale to meet the demands of buyers. However, there are some areas in the US where the opposite is true, and it’s a buyer’s market. If the months of supply is greater than 6, then it’s considered a buyer’s market. We looked at February 2024 home sales data of metro areas in the US to come up with a list of places that are currently in a buyer’s market.
Top 10 Places in the US in a Buyer’s Market
Here’s a list of metro areas in the US, where it’s currently a buyer’s market. In the list below, you will see the months of supply numbers for each metro area. The bigger the number, the more that metro area is in a buyer’s market. Days on the market is the average number of days it takes to sell a house.
1. Laredo, TX metro area
- Months of Supply: 414
- Median Sale Price: $70,000
- Homes Sold: 1
- Days on Market: 21
- Inventory: 414
Laredo, Texas, along the U.S.-Mexico border, is currently in a deep buyer’s market. With an astonishing 414 months of supply and an inventory of 414 homes, buyers have plenty of choices. It has a median sale price of $70,000.
2. Big Spring, TX metro area
- Months of Supply: 130
- Median Sale Price: $150,000
- Homes Sold: 1
- Days on Market: 98
- Inventory: 130
In West Texas, Big Spring is also in a serious buyer’s market with 130 months of supply and an inventory of 130 homes. With a median sale price of $150,000, buyers have lots of homes to choose from. Homes in this area typically stay on the market for an average of 98 days.
3. Gillette, WY metro area
- Months of Supply: 122
- Median Sale Price: $650,000
- Homes Sold: 1
- Days on Market: 409
- Inventory: 122
Gillette, Wyoming, located in the northeastern region of the state, is also in a buyer’s market with 122 months of supply and an inventory of 122 homes. It has a median sale price of $650,000, homes tend to stay on the market for an average of 409 days.
4. Snyder, TX metro area
- Months of Supply: 43
- Median Sale Price: $155,000
- Homes Sold: 1
- Days on Market: 123
- Inventory: 43
Snyder, Texas, in West Texas, is in a buyer’s market with 43 months of supply and an inventory of 43 homes. Snyder has a median sale price of $155,000 and homes in this area typically sell within 123 days.
5. Grenada, MS metro area
- Months of Supply: 42
- Median Sale Price: $295,000
- Homes Sold: 1
- Days on Market: 100
- Inventory: 42
North Mississippi’s Grenada is in a buyer’s market with 42 months of supply and an inventory of 42 homes. It has a median sale price of $295,000, and homes here average 100 days on the market.
6. Eagle Pass, TX metro area
- Months of Supply: 33
- Median Sale Price: $257,500
- Homes Sold: 4
- Days on Market: 106
- Inventory: 132
Eagle Pass, Texas, in South Texas, is another metro area that is in a buyer’s market with 33 months of supply and an inventory of 132 homes. With a median sale price of $257,500, homes at Eagle Pass typically sell within 106 days.
7. Sweetwater, TX metro area
- Months of Supply: 23.3
- Median Sale Price: $310,000
- Homes Sold: 3
- Days on Market: 244
- Inventory: 70
Sweetwater, Texas, located in West Texas, is also in a buyer’s market with 23.3 months of supply and an inventory of 70 homes. It has a median sale price of $310,000, homes tend to stay on the market for an average 244 days.
8. Palestine, TX metro area
- Months of Supply: 18.5
- Median Sale Price: $203,750
- Homes Sold: 8
- Days on Market: 34
- Inventory: 148
In East Texas, Palestine is also in a buyer’s market with 18.5 months of supply and an inventory of 148 homes. With a median sale price of $203,750, homes here sell quickly, averaging just 34 days on the market.
9. Greenwood, MS metro area
- Months of Supply: 16
- Median Sale Price: $50,000
- Homes Sold: 3
- Days on Market: 163
- Inventory: 48
Greenwood, Mississippi, in North Mississippi, is in a buyer’s market with 16 months of supply and an inventory of 48 homes. It has a median sale price of $50,000, homes tend to stay on the market for an average of 163 days.
10. Bay City, TX metro area
- Months of Supply: 15.4
- Median Sale Price: $208,000
- Homes Sold: 12
- Days on Market: 176
- Inventory: 185
Bay City, Texas, located in Southeast Texas, is in a buyer’s market with 15.4 months of supply and an inventory of 185 homes. With a median sale price of $208,000, homes sell within 176 days on average.
More US Metro Areas in a Buyer’s Market
Jacksonville, TX metro area
- Months of Supply: 13.9
- Median Sale Price: $183,500
- Homes Sold: 12
- Days on Market: 102
- Inventory: 167
Cordele, GA metro area
- Months of Supply: 12.8
- Median Sale Price: $284,500
- Homes Sold: 4
- Days on Market: 73
- Inventory: 51
El Centro, CA metro area
- Months of Supply: 12.5
- Median Sale Price: $225,000
- Homes Sold: 11
- Days on Market: 51
- Inventory: 138
Fredericksburg, TX metro area
- Months of Supply: 12.1
- Median Sale Price: $459,000
- Homes Sold: 19
- Days on Market: 191
- Inventory: 230
Rio Grande City, TX metro area
- Months of Supply: 12
- Median Sale Price: $197,250
- Homes Sold: 6
- Days on Market: 124
- Inventory: 72
Midland, TX metro area
- Months of Supply: 11.9
- Median Sale Price: $354,900
- Homes Sold: 38
- Days on Market: 37
- Inventory: 454
Woodward, OK metro area
- Months of Supply: 11.6
- Median Sale Price: $150,000
- Homes Sold: 9
- Days on Market: 71
- Inventory: 104
Rockport, TX metro area
- Months of Supply: 11.3
- Median Sale Price: $368,500
- Homes Sold: 35
- Days on Market: 116
- Inventory: 394
Key West, FL metro area
- Months of Supply: 11.2
- Median Sale Price: $987,500
- Homes Sold: 111
- Days on Market: 92
- Inventory: 1,238
St. Marys, PA metro area
- Months of Supply: 11
- Median Sale Price: $115,000
- Homes Sold: 2
- Days on Market: 71
- Inventory: 22
Clewiston, FL metro area
- Months of Supply: 11
- Median Sale Price: $282,495
- Homes Sold: 20
- Days on Market: 85
- Inventory: 219
Hereford, TX metro area
- Months of Supply: 11
- Median Sale Price: $397,500
- Homes Sold: 2
- Days on Market: 167
- Inventory: 22
Helena, AR metro area
- Months of Supply: 11
- Median Sale Price: $135,000
- Homes Sold: 2
- Days on Market: 107
- Inventory: 22
Athens, TX metro area
- Months of Supply: 10.9
- Median Sale Price: $271,490
- Homes Sold: 53
- Days on Market: 69
- Inventory: 577
Mount Pleasant, TX metro area
- Months of Supply: 10.8
- Median Sale Price: $259,950
- Homes Sold: 12
- Days on Market: 18
- Inventory: 130
Americus, GA metro area
- Months of Supply: 10.5
- Median Sale Price: $363,000
- Homes Sold: 2
- Days on Market: 32
- Inventory: 21
Point Pleasant, WV metro area
- Months of Supply: 10.3
- Median Sale Price: $116,500
- Homes Sold: 3
- Days on Market: 59
- Inventory: 31
Riverton, WY metro area
- Months of Supply: 10.3
- Median Sale Price: $167,600
- Homes Sold: 11
- Days on Market: 99
- Inventory: 113
Ketchikan, AK metro area
- Months of Supply: 10.3
- Median Sale Price: $370,000
- Homes Sold: 3
- Days on Market: 66
- Inventory: 31
Alice, TX metro area
- Months of Supply: 10.2
- Median Sale Price: $182,700
- Homes Sold: 9
- Days on Market: 77
- Inventory: 92
Magnolia, AR metro area
- Months of Supply: 10
- Median Sale Price: $252,500
- Homes Sold: 4
- Days on Market: 149
- Inventory: 40
Vicksburg, MS metro area
- Months of Supply: 10
- Median Sale Price: $286,692
- Homes Sold: 7
- Days on Market: 46
- Inventory: 70
Kirksville, MO metro area
- Months of Supply: 9.8
- Median Sale Price: $125,000
- Homes Sold: 8
- Days on Market: 73
- Inventory: 78
St. George, UT metro area
- Months of Supply: 9.7
- Median Sale Price: $520,500
- Homes Sold: 127
- Days on Market: 60
- Inventory: 1,226
Uvalde, TX metro area
- Months of Supply: 9.4
- Median Sale Price: $305,865
- Homes Sold: 7
- Days on Market: 109
- Inventory: 66
Moultrie, GA metro area
- Months of Supply: 9.3
- Median Sale Price: $204,500
- Homes Sold: 6
- Days on Market: 18
- Inventory: 56
Harrison, AR metro area
- Months of Supply: 9.2
- Median Sale Price: $172,500
- Homes Sold: 21
- Days on Market: 43
- Inventory: 193
Brownwood, TX metro area
- Months of Supply: 9.2
- Median Sale Price: $219,000
- Homes Sold: 17
- Days on Market: 53
- Inventory: 156
Vineyard Haven, MA metro area
- Months of Supply: 9.1
- Median Sale Price: $1,755,000
- Homes Sold: 7
- Days on Market: 148
- Inventory: 64
Spirit Lake, IA metro area
- Months of Supply: 8.9
- Median Sale Price: $291,750
- Homes Sold: 16
- Days on Market: 63
- Inventory: 143
Grand Rapids, MN metro area
- Months of Supply: 8.8
- Median Sale Price: $105,000
- Homes Sold: 9
- Days on Market: 26
- Inventory: 79
Spearfish, SD metro area
- Months of Supply: 8.8
- Median Sale Price: $585,808
- Homes Sold: 18
- Days on Market: 89
- Inventory: 158
Sevierville, TN metro area
- Months of Supply: 8.7
- Median Sale Price: $480,000
- Homes Sold: 121
- Days on Market: 70
- Inventory: 1,053
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