Week of January 28, 2019

Top median sales price increases

Top ten U.S. metro areas with greatest median sales price increases month-over-month

Top ten metropolitan areas
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CBSA Name
CBSA Name
Month-Over-Month Price Change
Month-Over-Month Price Change
Detroit-Dearborn-Livonia MI Metropolitan Division 21.49%
Columbia SC Metropolitan Statistical Area 6.60%
Memphis TN-MS-AR Metropolitan Statistical Area 4.08%
Worcester MA-CT Metropolitan Statistical Area 3.89%
Birmingham-Hoover AL Metropolitan Statistical Area 3.54%
Akron OH Metropolitan Statistical Area 3.30%
Port St. Lucie FL Metropolitan Statistical Area 2.88%
Baton Rouge LA Metropolitan Statistical Area 2.86%
Atlanta-Sandy Springs-Roswell GA Metropolitan Statistical Area 2.80%
Charleston-North Charleston SC Metropolitan Statistical Area 2.80%
Deltona-Daytona Beach-Ormond Beach FL Metropolitan Statistical Area 2.56%
Las Vegas-Henderson-Paradise NV Metropolitan Statistical Area 2.52%
Fort Worth-Arlington TX Metropolitan Division 2.08%
Knoxville TN Metropolitan Statistical Area 1.94%
Greensboro-High Point NC Metropolitan Statistical Area 1.79%
Sacramento--Roseville--Arden-Arcade CA Metropolitan Statistical Area 1.51%
Salt Lake City UT Metropolitan Statistical Area 1.51%
Tucson AZ Metropolitan Statistical Area 1.23%
St. Louis MO-IL Metropolitan Statistical Area 1.23%
West Palm Beach-Boca Raton-Delray Beach FL Metropolitan Division 1.10%
Columbus OH Metropolitan Statistical Area 1.04%
Orlando-Kissimmee-Sanford FL Metropolitan Statistical Area 0.80%
Fayetteville-Springdale-Rogers AR-MO Metropolitan Statistical Area 0.71%
New York-Jersey City-White Plains NY-NJ Metropolitan Division 0.57%
Boise City ID Metropolitan Statistical Area 0.38%
Baltimore-Columbia-Towson MD Metropolitan Statistical Area 0.37%
Provo-Orem UT Metropolitan Statistical Area 0.29%
Phoenix-Mesa-Scottsdale AZ Metropolitan Statistical Area 0.04%
Houston-The Woodlands-Sugar Land TX Metropolitan Statistical Area 0.00%
Los Angeles-Long Beach-Glendale CA Metropolitan Division 0.00%
Jacksonville FL Metropolitan Statistical Area 0.00%
Raleigh NC Metropolitan Statistical Area 0.00%
Providence-Warwick RI-MA Metropolitan Statistical Area 0.00%
Buffalo-Cheektowaga-Niagara Falls NY Metropolitan Statistical Area 0.00%
Tampa-St. Petersburg-Clearwater FL Metropolitan Statistical Area -0.05%
Tacoma-Lakewood WA Metropolitan Division -0.30%
Ogden-Clearfield UT Metropolitan Statistical Area -0.30%
Chicago-Naperville-Arlington Heights IL Metropolitan Division -0.43%
Cincinnati OH-KY-IN Metropolitan Statistical Area -0.44%
Indianapolis-Carmel-Anderson IN Metropolitan Statistical Area -0.51%
Riverside-San Bernardino-Ontario CA Metropolitan Statistical Area -0.57%
Denver-Aurora-Lakewood CO Metropolitan Statistical Area -0.63%
Gary IN Metropolitan Division -0.69%
Fort Lauderdale-Pompano Beach-Deerfield Beach FL Metropolitan Division -0.83%
Greenville-Anderson-Mauldin SC Metropolitan Statistical Area -0.84%
Dallas-Plano-Irving TX Metropolitan Division -1.03%
Grand Rapids-Wyoming MI Metropolitan Statistical Area -1.10%
Cape Coral-Fort Myers FL Metropolitan Statistical Area -1.15%
Pensacola-Ferry Pass-Brent FL Metropolitan Statistical Area -1.19%
Albuquerque NM Metropolitan Statistical Area -1.20%
Washington-Arlington-Alexandria DC-VA-MD-WV Metropolitan Division -1.25%
Oklahoma City OK Metropolitan Statistical Area -1.32%
Virginia Beach-Norfolk-Newport News VA-NC Metropolitan Statistical Area -1.53%
New Orleans-Metairie LA Metropolitan Statistical Area -1.55%
Colorado Springs CO Metropolitan Statistical Area -1.67%
Minneapolis-St. Paul-Bloomington MN-WI Metropolitan Statistical Area -1.75%
Rochester NY Metropolitan Statistical Area -1.75%
Anaheim-Santa Ana-Irvine CA Metropolitan Division -1.80%
Kansas City MO-KS Metropolitan Statistical Area -1.84%
North Port-Sarasota-Bradenton FL Metropolitan Statistical Area -1.96%
Austin-Round Rock TX Metropolitan Statistical Area -1.98%
Portland-Vancouver-Hillsboro OR-WA Metropolitan Statistical Area -2.11%
Lakeland-Winter Haven FL Metropolitan Statistical Area -2.22%
Dayton OH Metropolitan Statistical Area -2.32%
San Antonio-New Braunfels TX Metropolitan Statistical Area -2.39%
Camden NJ Metropolitan Division -2.56%
Milwaukee-Waukesha-West Allis WI Metropolitan Statistical Area -2.63%
Charlotte-Concord-Gastonia NC-SC Metropolitan Statistical Area -2.66%
Huntsville AL Metropolitan Statistical Area -2.83%
Oakland-Hayward-Berkeley CA Metropolitan Division -2.93%
Little Rock-North Little Rock-Conway AR Metropolitan Statistical Area -3.15%
Montgomery County-Bucks County-Chester County PA Metropolitan Division -3.23%
Tulsa OK Metropolitan Statistical Area -3.38%
Winston-Salem NC Metropolitan Statistical Area -3.40%
Miami-Miami Beach-Kendall FL Metropolitan Division -3.45%
Palm Bay-Melbourne-Titusville FL Metropolitan Statistical Area -3.55%
Nashville-Davidson--Murfreesboro--Franklin TN Metropolitan Statistical Area -3.56%
Allentown-Bethlehem-Easton PA-NJ Metropolitan Statistical Area -3.85%
San Diego-Carlsbad CA Metropolitan Statistical Area -3.91%
Boston MA Metropolitan Division -4.01%
Omaha-Council Bluffs NE-IA Metropolitan Statistical Area -4.07%
Richmond VA Metropolitan Statistical Area -4.17%
Seattle-Bellevue-Everett WA Metropolitan Division -4.19%
Louisville/Jefferson County KY-IN Metropolitan Statistical Area -4.39%
Hartford-West Hartford-East Hartford CT Metropolitan Statistical Area -4.76%
Silver Spring-Frederick-Rockville MD Metropolitan Division -4.82%
Cleveland-Elyria OH Metropolitan Statistical Area -4.93%
Warren-Troy-Farmington Hills MI Metropolitan Division -5.13%
Newark NJ-PA Metropolitan Division -5.44%
Philadelphia PA Metropolitan Division -5.84%
San Jose-Sunnyvale-Santa Clara CA Metropolitan Statistical Area -6.78%
Cambridge-Newton-Framingham MA Metropolitan Division -6.98%
Wichita KS Metropolitan Statistical Area -9.67%
Pittsburgh PA Metropolitan Statistical Area -11.18%

The above graph looks at the top ten metropolitan areas with the greatest month-over-month change in median sales price for September 2018. The Detroit-Dearborn-Livonia, Michigan, metropolitan region saw double-digit growth again in sales price, with an increase of 21.49%. Sales prices also increased in July 2018 by 24.70%. The region’s affordability, coupled with limited inventory, has made it a very strong seller’s market.

The Memphis metropolitan region also continued to show growth, with a 4.08% increase in prices in September 2018 and 4.17% in July 2018. Low inventory also contributed to a strong market for sellers.

Except for Worcester, Massachusetts, all of the housing markets in the top ten were in the Midwest and the South—regions with more affordable housing.

However, two-thirds of the 100 largest metropolitan areas nationwide that sold more than 1,000 housing units had price growth either decrease or remain flat. This may be due to the end of the summer selling season. However, it could also indicate a slowdown in demand in the housing market.

Source data: CoreLogic®

Data date: 12/17/2018

 

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