Median Home Prices by City: Earlier this morning, we touched on the notion that the housing market in the United States, as a whole, could finally be looking up. While some cities are in better position than others to rebound as 2013 wears on, several are already seeing a nice increase in median list price when compared to the same period last year.
Realtor.com is a great source of housing market data and related information. Recently, they released February 2013 national housing data which shows that “median list prices were slightly higher month-over-month at $189,900.”
While it is good to see that things are picking up nationwide on a month to month basis, taking a close look at the year over year data gives a bigger picture of exactly what is going on.
Before we talk about the seven cities that have seen the largest year over year median list price growth, it is important to note that regional differences do exist. For example, there are several regions in California that are taking off in terms of average list price. That being said, the same areas are going through an inventory decline.
Here is a brief excerpt from their recent report:
“While the number of markets experiencing year-over-year list price declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.”
Now, it is time to take a closer look at the seven cities with the top year over year median list price growth.