Week of January 21, 2019

Median Selling Price

Median selling price

Median selling price for September 2018

REO impact on median selling price by state

REO impact on median selling price by state
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State Name
State Name
Actual Median Price
Actual Median Price
Median selling price change
after removing REO sales
Median selling price change after removing REO sales
Alabama 124,566.00 4.36%
Alaska 282,053.44 2.64%
Arizona 236,208.00 1.61%
Arkansas 130,233.60 4.43%
California 468,207.50 1.45%
Colorado 348,772.88 0.70%
Connecticut 226,344.00 6.03%
Delaware 226,169.40 4.12%
District of Columbia 468,704.00 3.48%
Florida 211,423.10 2.64%
Georgia 180,708.00 2.38%
Hawaii 535,610.53 2.92%
Idaho 237,604.50 0.76%
Illinois 172,206.00 4.53%
Indiana 162,160.25 2.52%
Iowa 125,807.01 1.82%
Kansas 182,085.57 3.23%
Kentucky 140,519.50 3.19%
Louisiana 158,944.50 3.81%
Maine 214,206.71 4.21%
Maryland 272,232.00 4.69%
Massachusetts 366,900.00 2.21%
Michigan 133,168.00 5.13%
Minnesota 206,514.00 1.69%
Mississippi 183,897.72 3.27%
Missouri 160,888.27 3.52%
Montana 246,581.39 1.44%
Nebraska 149,917.60 1.39%
Nevada 285,185.20 1.34%
New Hampshire 245,484.19 1.81%
New Jersey 280,483.98 7.93%
New Mexico 186,082.32 6.07%
New York 257,482.80 2.88%
North Carolina 186,754.24 1.79%
North Dakota 186,418.80 1.63%
Ohio 127,055.66 2.40%
Oklahoma 120,787.50 3.49%
Oregon 302,002.00 2.65%
Pennsylvania 155,187.90 3.75%
Rhode Island 242,893.82 3.83%
South Carolina 179,801.50 2.89%
South Dakota No Data  
Tennessee 158,709.45 3.02%
Texas 224,060.24 1.95%
Utah 304,574.04 1.06%
Vermont No Data  
Virginia 238,900.00 4.65%
Washington 334,833.75 0.80%
West Virginia 121,350.00 3.01%
Wisconsin 155,582.60 1.55%
Wyoming 219,036.75 4.13%

The first map compares each state’s median selling price for September 2018. The most expensive markets are California, Hawaii and Washington, D.C. – where the average home costs above $420,000. These three markets were also the most expensive in May 2018, indicating that demand remains steady and inventory limited.

Overall, states in the Western half of the country have more expensive home prices, implying that supply has not kept up with demand. Colorado’s median is at $348,772. That’s still about $120,000 cheaper than California’s median price of $468,207. With the exception of Massachusetts and New Jersey, prices in the East are more affordable, remaining around $180,000 and $260,000 – in line with the national average of $215,550.

The cheapest states for housing are in the Midwest and the South. Oklahoma has the lowest price at $120,787.

Real-Estate Owned property (REO) had the largest effect on prices in New Jersey (7.93%), New Mexico (6.07%), and Connecticut (6.03%), indicating high foreclosure rates. It also implies that there are affordable homes available, but selling prices may be a bit higher than the median would suggest. Hot housing markets like California (1.45%) and Colorado (0.70%) had low REO impact on their median price.

Source data: CoreLogic®

Data date: 12/9/2018

 

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