Week of April 29, 2019

U.S. regional housing market

Median selling price

Median selling price
Region Average Median Selling Price
West $310,840
Midwest $157,606
South $190,618
Northeast $243,572
State Median Price
Alabama $118,362
Alaska $285,807
Arizona $241,750
Arkansas $128,820
California $449,000
Colorado $348,751
Connecticut $226,000
Deleware $225,000
District of Columbia $500,000
Florida $205,000
Georgia $175,000
Hawaii $577,000
Idaho $245,000
Illinois $172,500
Indiana $153,750
Iowa $125,000
Kansas $184,982
Kentucky $132,000
Louisiana $150,000
Maine $225,000
Maryland $255,000
Massachusetts $369,900
Michigan $135,500
Minnesota $204,000
Mississippi $178,407
Missouri $152,861
Montana $248,750
Nebraska $155,000
Nevada $285,000
New Hamsphire $218,000
New Jersey $280,000
New Mexico $194,373
New York $310,000
North Carolina $176,050
North Dakota $195,185
Ohio $117,000
Oklahoma $115,000
Oregon $300,000
Pennslyvania $150,000
Rhode Island $248,250
South Carolina $170,050
South Dakota $145,500
Tennesse $143,825
Texas $221,500
Utah $312,444
Vermont $165,000
Virginia $235,000
Washington $330,000
West Virginia $111,500
Wisconsin $150,000
Wyoming $223,042

Median home prices in the West increased by almost $30,000 from October 2018 to January 2019, which indicates that inventory is falling behind demand.1 Six states in the West had home values at $300,000 or higher—more than any region in the country.

The South made the second-largest gain nationwide, increasing by over $12,000 to $190,618. Greater inventory supply may have minimized the increase. In addition, demand may not be high in some Southern states. Two states there, West Virginia (with a median price of $111,500) and Oklahoma ($115,000), have the cheapest housing stock in America.

In the Northeast, prices grew to $243,572, an increase of $5,000, while they remained flat in the Midwest at around $157,000. Seasonal cold and lower regional growth may have been contributing factors.

1Source data: CoreLogic®

Data date: 3/25/2019

 

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