While inventories of for-sale homes are on the rise, asking prices are too. The median list price was 5.3 percent higher in March compared to year ago levels, according to realtor.com®’s National Housing Trend Report for March, which tracks 146 housing markets.
Some of the largest price increases are occurring in California and Nevada, which lead a list of metros seeing the largest year-over-year increases in median list prices. But newcomers to the list – Houston and Columbia, Mo. – are also gaining ground.
According to realtor.com®’s March report, the following metros had the greatest year-over-year list price increases:
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- Stockton-Lodi, Calif: 38.9%
- Las Vegas, Nev.-Ariz.: 30.4%
- Detroit, Mich.: 30%
- Reno, Nev.: 23.5%
- Riverside-San Bernardino, Calif.: 20.4%
- Denver, Colo.: 20.1%
- Houston, Texas: 18.5%
- Fresno, Calif.: 17.4%
- Columbia, Mo.: 17.2%
- Bakersfield, Calif.: 16.4%
Source: “Realtor.com Report: Higher Inventory a Welcome Sign for Spring Buyers,” realtor.com® (April 17, 2014)
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Asifa Zia
Keller Williams Realty
540-729-3470
