Nationwide, homes listed for sale on Zillow sold a month faster in September 2013 than they did in the same month a year earlier - 86 days compared to 116 days in September 2012. Homes sold faster in all 30 of the largest metros. Large metros that saw the greatest gain in turnover rate include Las Vegas (44 days faster), Sacramento (43 days faster and San Antonio (37 days faster)

"Home shoppers in today's environment need to be prepared to move quickly, with pre-approvals in place and an established sense of what they're willing to pay for a home," says Zillow Chief Economist Dr Stan Humphries.

Tom: Locally, the Days on Market has stabilized to around 75 - 85 , down from over 130 days a few years ago. 60 - 90 days on the market is a stable figure. Anything less and we wil see bidding wars and unrealistic and unsustaibable price increases.