After analyzing data from Zillow that details the average time it takes to close a sale in each state, RubyHome Realty concluded that New York is the slowest state in which to sell realty. The compiled data determined that the nationwide average time it takes to close a sale is 33.5 days.
According to the data for 2023, it takes an average of 59.83 days for homes in New York state to be sold. Despite this large average, it actually presents an improvement from the same time in 2022. Since last year, the average amount of days has decreased by 9%, down from 66.28 days.
The next nine states behind New York are New Jersey, Maryland, Connecticut, Massachusetts, Delaware, Hawaii, Pennsylvania, Rhode Island and South Dakota, respectively. As with New York, the average amount of days for realty to be sold in each of these states has actually decreased since last year.
The largest change was experienced by South Dakota, with the average time dropping from 45.75 days to 38.75. This amounts to a 15% drop.