Week of May 13, 2019

Home selling prices

Month-over-month change

Month-over-month change
State Month-over-month change in selling price Median selling price for January 2019 Median selling price for December 2018
National -2.27% $215,000 $220,000
Alabama -6.73% $118,362 $126,900
Alaska 6.18% $285,807 $269,169
Arizona 1.79% $241,750 $237,500
Arkansas -3.69% $128,820 $133,750
California -0.22% $449,000 $450,000
Colorado -2.85% $348,751 $359,000
Connecticut -0.88% $226,000 $228,000
Delaware -7.79% $225,000 $244,000
District of Columbia 0.00% $500,000 $500,000
Florida -6.52% $205,000 $219,300
Georgia -7.89% $175,000 $190,000
Hawaii 1.94% $577,000 $566,000
Idaho 2.94% $245,000 $237,998
Illinois -0.86% $172,500 $174,000
Indiana 0.06% $153,750 $153,664
Iowa -3.85% $125,000 $130,000
Kansas 0.41% $184,982 $184,224
Kentucky -5.71% $132,000 $140,000
Louisiana -8.54% $150,000 $164,000
Maine -2.21% $225,000 $230,094
Maryland -5.56% $255,000 $270,000
Massachusetts -0.03% $369,900 $370,000
Michigan -0.37% $135,500 $136,000
Minnesota 3.03% $204,000 $198,000
Mississippi -4.85% $178,407 $187,500
Missouri -3.15% $152,861 $157,828
Montana -4.90% $248,750 $261,563
Nebraska 0.00% $155,000 $155,000
Nevada 0.04% $285,000 $284,900
New Hampshire -0.91% $218,000 $220,000
New Jersey 1.82% $280,000 $275,000
New Mexico -2.72% $194,373 $199,819
New York 10.71% $310,000 $280,000
North Carolina -6.60% $176,050 $188,500
North Dakota 4.66% $195,185 $186,500
Ohio -6.40% $117,000 $125,000
Oklahoma -6.50% $115,000 $123,000
Oregon -1.30% $300,000 $303,950
Pennsylvania -3.16% $150,000 $154,900
Rhode Island -1.72% $248,250 $252,600
South Carolina -5.53% $170,050 $180,000
South Dakota 6.59% $145,500 $136,500
Tennessee -11.71% $143,825 $162,900
Texas -7.35% $221,500 $239,075
Utah 0.42% $312,444 $311,125
Vermont -10.81% $165,000 $185,000
Virginia -10.48% $235,000 $262,500
Washington -1.47% $330,000 $334,925
West Virginia -14.23% $111,500 $130,000
Wisconsin 0.00% $150,000 $150,000
Wyoming 2.77% $223,042 $217,033

Home prices in the South dropped by an average of 7.22%—the most dramatic month-over-month decline at the beginning of 2019.1 A large amount of inventory could make that region susceptible to a slowdown in the housing market. Home prices decreased nationwide by 2.27% in January.

Surprisingly, seasonality did not seem to affect prices. The top five states in January were located in colder climates: Minnesota (month-over-month increase of 3.03%), North Dakota (4.66%), Alaska (6.18%) and South Dakota (6.59%).

New York had the largest hike at 10.71%. This may have been caused by the anticipated arrival of a new Amazon headquarters in New York City. Amazon abandoned that proposal in February.

1 Source data: CoreLogic®

Data date: 4/09/2019

 

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