Tool | Data as of September 30, 2015

Home Prices in the 100 Largest Metro Areas

A look at the change in existing home prices over the past year.

The table shows changes in existing home prices (single-family and condo) over the past year and since the peak of the national market in mid 2006 in 100 metro areas tracked by Clear Capital, a provider of real estate data and analysis. Home prices nationally rose by 5.2% in the year ending September 30, 2015, according to Clear Capital, but they're still about 20% lower than they were in mid-2006.

See Also: Kiplinger's Economic Outlook: Housing Sales

In September sales of existing homes hit their second highest pace since February 2007 (5.8 million), according to the National Association of Realtors. An improving economy with strong job growth has strengthened buyers' finances and household formation and fueled demand. Still, high rents and student-loan debt continue to hold back first-time home buyers, making it difficult for them to save for a down payment and buy, despite low-down-payment loans programs designed for them. Rising prices have released pent-up demand from home sellers who want to take advantage of equity gains to trade up or down. But they often find it difficult to find something they want to buy.

In September supply was roughly balanced between buyers and sellers with 4.8 months' supply, and houses stayed on the market for an average of 49 days. However, in the hottest markets, desirable properties sell much more quickly and much lower supply (as little as 1 or 2 months’ supply) forces buyers to compete and drives stronger price gains.

The beginning of mortgage rate hikes could trigger a burst of panic buying, especially among fence-sitters. But as prices hit the limits of affordability, some buyers may decide to hold off until price growth slows and supply improves. Inventory won’t improve until builders resume their historical pace of new-home construction or more homeowners list their properties for sale, but don’t buy again. Meanwhile, Kiplinger expects that sales and prices will continue to grow moderately in 2016.

Metro Area Median Sale Price 1-Year Change Change From Mid 2006
Nation $215,000 5.2% -18.60%
Akron, Ohio $93,500 -0.2% -27.0%
Albany, N.Y. $195,250 -2.8% -9.4%
Albuquerque, N.M. $129,000 1.4% -11.1%
Allentown, Pa. $185,000 2.2% -27.7%
Atlanta, Ga. $180,000 9.1% -17.6%
Augusta, Ga. $110,000 2.9% -8.1%
Austin, Tex. $225,000 7.1% 38.6%
Bakersfield, Cal. $182,500 6.4% -37.0%
Baltimore, Md. $276,753 -2.3% -29.5%
Baton Rouge, La. $178,750 3.8% 3.8%
Birmingham, Ala. $139,233 5.1% -19.4%
Boise City, Idaho $173,250 3.4% -20.0%
Boston, Mass. $350,000 1.6% -7.4%
Bridgeport, Conn. $441,250 1.0% -26.3%
Buffalo, N.Y. $110,000 3.2% 20.3%
Cape Coral, Fla. $177,000 12.8% -39.1%
Charleston, S.C. $199,000 8.4% -4.4%
Charlotte, N.C. $138,000 7.5% 1.5%
Chattanooga, Tenn. $142,000 7.7% 1.4%
Chicago, Ill. $205,000 5.8% -36.9%
Cincinnati, Ohio $122,499 3.9% -15.7%
Cleveland, Ohio $110,000 2.1% -37.1%
Colorado Springs, Colo. $221,450 4.6% -0.4%
Columbia, S.C. $124,650 6.2% -7.7%
Columbus, Ohio $119,950 5.7% -12.9%
Dallas, Tex. $129,700 10.0% 17.7%
Dayton, Ohio $63,000 2.2% -23.3%
Deltona, Fla. $135,000 9.7% -41.3%
Denver, Colo. $302,000 12.0% 23.6%
Des Moines, Iowa $186,500 5.1% -1.5%
Detroit, Mich. $147,000 12.5% -40.3%
Durham, N.C. $156,500 3.6% 7.1%
Fayetteville, Ark. $150,000 2.7% -12.2%
Fresno, Cal. $210,000 7.4% -37.7%
Grand Rapids, Mich. $140,000 10.6% -10.8%
Greensboro, N.C. $118,500 3.4% -12.2%
Greenville, S.C. $162,700 6.1% 5.6%
Harrisburg, Pa. $175,000 1.5% -9.5%
Hartford, Conn. $220,000 0.3% -20.6%
Honolulu, Hi. $466,000 5.8% 21.5%
Houston, Tex. $162,500 8.7% 12.1%
Indianapolis, Ind. $114,450 3.2% -22.5%
Jacksonville, Fla. $165,000 7.8% -35.5%
Kansas City, Mo. $117,000 1.7% -28.9%
Knoxville, Tenn. $129,950 4.2% -1.0%
Lakeland, Fla. $119,950 8.5% -38.1%
Lancaster, Pa. $187,763 3.4% 0.9%
Las Vegas, Nev. $193,700 8.1% -46.3%
Little Rock, Ark. $177,000 2.2% -2.4%
Los Angeles, Cal. $530,000 7.6% -16.8%
Louisville, Ky. $117,000 4.4% -6.0%
Madison, Wis. $244,000 4.8% 2.7%
McAllen, Tex. $85,000 3.2% 10.8%
Memphis, Tenn. $128,000 2.7% -26.9%
Miami, Fla. $210,000 10.1% -36.8%
Milwaukee, Wis. $165,000 4.3% -30.7%
Minneapolis-St. Paul, Minn. $222,700 6.0% -20.2%
Modesto, Cal. $239,000 9.6% -41.7%
Nashville, Tenn. $158,000 7.3% 14.0%
New Orleans, La. $153,000 4.8% -8.9%
New York, N.Y. $375,000 5.6% -16.3%
Ogden, Utah $178,500 5.8% 13.9%
Oklahoma City, Okla. $152,250 4.8% 11.2%
Omaha, Neb. $123,550 3.9% 3.1%
Orlando, Fla. $170,000 8.0% -40.4%
Oxnard, Cal. $507,500 4.6% -22.8%
Palm Bay, Fla. $140,000 15.0% -38.4%
Philadelphia, Pa. $252,800 3.5% -15.6%
Phoenix, Ariz. $205,000 7.2% -33.0%
Pittsburgh, Pa. $157,000 11.5% 3.8%
Portland, Ore. $289,900 8.2% 1.1%
Providence, R.I. $224,575 -6.2% -41.8%
Provo, Utah $229,950 4.6% 6.7%
Raleigh, N.C. $156,000 4.7% 5.9%
Richmond, Va. $224,000 4.9% -13.9%
Riverside-San Bernardino, Cal. $276,000 7.0% -34.5%
Rochester, N.Y. $104,000 2.2% 6.6%
Sacramento, Cal. $305,000 7.4% -29.1%
Salt Lake City, Utah $248,500 9.1% 14.0%
San Antonio, Tex. $128,494 3.8% 9.5%
San Diego, Cal. $460,000 6.3% -16.1%
San Francisco-Oakland, Cal. $700,000 8.8% -7.7%
San Jose, Cal. $816,000 9.4% 3.9%
Santa Rosa, Cal. $493,000 7.7% -14.8%
Sarasota, Fla. $192,000 11.7% -33.4%
Scranton-Wilkes-Barre, Pa. $104,500 0.5% -25.1%
Seattle, Wash. $370,000 10.6% -1.8%
Springfield, Mass. $188,000 -2.7% -18.2%
St. Louis, Mo. $89,900 6.0% -25.1%
Stockton, Cal. $267,000 10.0% -42.3%
Syracuse, N.Y. $101,450 -1.3% 3.0%
Tampa, Fla. $140,400 9.0% -40.0%
Toledo, Ohio $98,800 4.3% -33.0%
Tucson, Ariz. $160,000 4.6% -31.3%
Tulsa, Okla. $124,700 2.5% -0.9%
Virginia Beach, Va. $230,000 4.2% -20.9%
Washington, D.C. $385,000 1.8% -23.3%
Winston-Salem, N.C. $100,000 2.8% -10.1%
Worcester, Mass. $225,000 0.2% -25.8%
Youngstown, Ohio $88,500 1.3% -33.5%

Source: Clear Capital; data is as of September 30, 2015.

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