Western New York Is the Most Competitive Place to Buy a Home in America

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months of supply financial

Months of supply measures how long it would take to sell all available homes at the current sales rate. It is calculated by dividing the total number of homes for sale by the number of homes sold each month. A lower number suggests a faster market with high demand, while a higher number indicates a slower market with more choices for buyers.

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A lakeside Rochester suburb tops Redfin’s list, but the Bay Area is a close second

SEATTLE--(BUSINESS WIRE)-- Irondequoit, NY—a suburb of Rochester—is the most competitive housing market in the U.S., according to a new report from Redfin, the real estate brokerage powered by Rocket. Homes in the lakeside town typically sell in just 8.5 days and for well over their asking price. It’s followed by Sunnyvale, CA, Santa Clara, CA, Tonawanda Town, NY (a Buffalo suburb), and Mountain View, CA.

Four of the top 10 most competitive cities were in California, three were in Western New York, and the rest were in the South and East Coast. Every city has less than a month of supply, and in most cases, over half of homes sell within two weeks. Nationwide, the typical house sells in a month and a half.

The 10 most competitive housing markets in the U.S.

City	Parent Metro	Median Sale Price	Months of Supply	Sale-to-List Ratio	Median Days on Market	Share of Homes Sold Above List	Share of Homes Off-Market in 2 Weeks
Irondequoit, NY	Rochester, NY metro area	$249,132	0.6	119.3%	8.5	51.5%	62.5%
Sunnyvale, CA	San Jose, CA metro area	$2,671,373	0.8	110.2%	9.6	37.4%	52.6%
Santa Clara, CA	San Jose, CA metro area	$1,988,297	0.8	108.2%	10.1	31.3%	22.2%
Tonawanda Town, NY	Buffalo, NY metro area	$269,978	0.8	109.2%	11.3	15.4%	40.8%
Mountain View, CA	San Jose, CA metro area	$2,654,896	0.9	107.1%	10.3	80.2%	65.9%
North Tonawanda, NY	Buffalo, NY metro area	$245,732	1	108.4%	11.5	36.7%	47.8%
Crestwood, MO	St. Louis metro area	$340,845	0.8	103.7%	9.8	76.4%	72.3%
Elizabethtown, PA	Lancaster, PA metro area	$343,385	0.9	103.9%	10	42.9%	41%
Melrose, MA	Boston, MA metro area	$1,003,400	0.9	108.6%	13.9	48.3%	60.7%
San Mateo	San Francisco, CA metro area	$2,026,814	1	106.2%	12.1	47.2%	65.7%

For the past few years, housing has been a waiting game, as buyers balk at record-high prices and sellers hold off on listing their homes until activity returns. Just look at the data: In November 2025, prices rose to a new monthly high, the typical home took 7 days longer to go under contract than a year prior, and new listings decreased to a new monthly low.

Since the pandemic, the housing market has strayed from its typical patterns. Usually, prices rise when competition goes up, helping level the balance of power between buyers and sellers. Today, competition is at historic lows, yet prices are still climbing, putting pressure on everyone.

“Homebuyers are facing a very unaffordable market, leaving many in search for anything they can swing,” said Asad Khan, a senior economist at Redfin. “Many are choosing lower-cost cities in the Rust Belt and East Coast, where their dollars go farther. But others are still competing at the high end: Competition has recently jumped in the Bay Area as tech-savvy buyers with deep pockets vie for limited supply.”

The Rust Belt is coming back

Homes throughout Western and Upstate New York have been flying off the shelves for over two years now as buyers seek out affordable places to live. Some of the other most competitive places are North Tonawanda, NY, Elizabethtown, PA, and Cheektowaga, NY. The common thread? They’re all in the Rust Belt.

The Rust Belt has been an affordable region for decades, but until recently, many of its cities were written off as examples of urban decline. Yet, alongside renewed investment and economic growth, the region has heated up in recent years as buyers look for homes they can afford—especially after mortgage rates spiked in 2022.

The Bay Area has reversed its pandemic-era decline

When mortgage rates climbed to historic highs and remote work was booming, homebuyers in expensive coastal metros searched far and wide for more affordable options. Among cities like Los Angeles and Washington, D.C., the Bay Area was the top place where more Redfin.com users searched to leave rather than move to.

But once migration dropped off as remote work declined, people returned to the coasts. The Bay Area saw a resurgence late in 2023, and following a rapid flip from a buyer's to a slight seller’s market earlier in 2025, it’s clear that demand has returned. The AI boom has likely spurred competition.

Another reason for the coastal resurgence is that affordability has actually improved. Prices have stagnated in the last year while incomes have grown on the back of AI—often accompanied by major signing bonuses.

Competition has pushed costs up in affordable cities—and priced some locals out

Today’s buyers who can still afford to purchase are often doing so in the nation’s most affordable cities. That inflow has been a boon for local economies, but is also pushing demand up, depleting supply, and creating strong buyer’s markets.

Some advocacy groups have cautioned that this demand and investment is pricing locals out of their homes. For example, in ultra-competitive Upstate New York, residents in cities like Buffalo and Rochester have seen a surge in costs and new financial challenges.

Sun Belt cities have some of the slowest housing markets

The Sun Belt exploded in popularity during the pandemic, when scores of homebuyers moved in from more expensive parts of the country in search of sunshine and affordability. Cities like Austin, TX, Nashville, TN, and Miami, FL, were among the top destinations.

But that surge in demand helped push prices sharply higher—and, combined with rising climate risks and an escalating insurance crisis, has since driven many buyers away.

Now, the region has largely cooled, with many cities among the least competitive in the nation. In Las Vegas, NV, for example, the city has contended with over a year straight of 20%-plus inventory increases, demonstrating how slow the market has been. Sellers are struggling to offload their listings.

Housing supply plays a major role

It’s worth noting that demand is just half of the pie; housing supply often plays an equal or even larger role in housing market competitiveness. Places that have built more homes generally have more supply to satiate demand.

Cities in Florida and Texas have constructed tens of thousands of homes in the past five years, giving buyers far more options. On the other end of the spectrum, New York and California have continued to lag behind what’s needed, forcing more buyers to compete over a smaller and often aging housing stock. For example, Buffalo, NY, built just 74 new single-family homes in November, while Austin, TX, built 3,465.

Competition may decline in 2026, but should slowly improve over time

Redfin predicts that Great Lakes cities like Rochester and Buffalo will be the hottest housing markets in 2026, while coastal Florida and Texas will be the slowest. Nationwide, competition will marginally decrease in 2026, but should improve slowly over time as mortgage rates hold in the low 6% range during peak homebuying season.

Lower mortgage rates and higher wages will ease the price pressure somewhat and bring some homebuyers off the sidelines, but many house hunters will remain priced out.

“Competition and affordability are closely connected,” continued Khan. “Generally, when one falls, the other rises. As the supply of homes for sale grows and buyers’ buying power improves, we’ll begin to approach more ‘normal’ sales numbers.”

To view the full report, including methodology, please visit:
https://www.redfin.com/news/most-competitive-housing-markets-2025

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251223457751/en/

Contact Redfin Journalist Services:
Kenneth Applewhaite
press@redfin.com

Source: Redfin