Here's a view of median asking price today vs. six months ago. You can also look city by city, look at 25th and 75th percentile as well as median (50th), and see graphs just like pets.com stock. What a great site. Take it for a spin and let us know any gems.
Depends on the city, but six months ago seems like the best read, as the bubble burst anywhere from 6 to 12 months ago in most cities. Some are likely still showing an increase vs. 12 months ago as they come down the mountain that peaked less than 12 months ago in that city.
But 6 months ago, the only cities still showing an increase are Boise, Des Moines, Nashville, Omaha, Pittsburgh, Raleigh and Tucson.
Remember, these are asking prices are skewed by inflated prices offering mortgage fraud/cash back (like Tucson - $500,000 with $50,000 cash back at close!) or baked in buyer incentives.
Enjoy!
Anchorage, AK
$275,000
-5000 (1.79%)
Atlanta, GA
$203,900
0
Baltimore, MD
$269,500
-15500 (5.44%)
Boise, ID
$289,900*
+1910 (0.66%)
Boston, MA
$416,000
-4000 (0.95%)
Chicago, IL
$292,000
-7000 (2.34%)
Cincinnati, OH
$154,900
-5600 (3.49%)
Cleveland, OH
$144,900
-10000 (6.46%)
Columbus, OH
$156,900
-6000 (3.68%)
Dallas, TX
$151,050
-740 (0.49%)
Denver, CO
$224,900
-3100 (1.36%)
Des Moines, IA
$182,990
+490 (0.27%)
Detroit, MI
$115,000*
-14900 (11.47%)
Hartford, CT
$272,400
-16600 (5.74%)
Honolulu, HI
$515,000
-12500 (2.37%)
Houston, TX
$159,635
-2865 (1.76%)
Indianapolis, IN
$137,800
-3100 (2.20%)
Irvine, CA
$659,000
-35000 (5.04%)
Kansas City, MO
$178,900
-600 (0.33%)
Las Vegas, NV
$327,900
-7100 (2.12%)
Los Angeles, CA
$585,000
-25000 (4.10%)
Louisville, KY
$157,500
-1500 (0.94%)
Memphis, TN
$168,900
0
Miami, FL
$364,900*
-20000 (5.20%)
Minneapolis, MN
$244,900
-5100 (2.04%)
Nashville, TN
$226,000*
+16100 (7.67%)
New Orleans, LA
$219,000
-5000 (2.23%)
Omaha, NE
$183,500
+500 (0.27%)
Orlando, FL
$292,900*
-19100 (6.12%)
Philadelphia, PA
$189,900
0
Phoenix, AZ
$332,000
-7900 (2.32%)
Pittsburgh, PA
$124,900*
+900 (0.73%)
Portland, OR
$355,000
-10000 (2.74%)
Raleigh, NC
$235,000
+15100 (6.87%)
Reno, NV
$384,900
-4100 (1.05%)
Riverside, CA
$454,900*
-20100 (4.23%)
Sacramento, CA
$356,900*
-26100 (6.81%)
Salt Lake City, UT
$289,500
-5400 (1.83%)
San Antonio, TX
$177,360
-1140 (0.64%)
San Diego, CA
$496,900
-18100 (3.51%)
San Francisco, CA
$715,000
-24000 (3.25%)
San Jose, CA
$675,000
-24800 (3.54%)
Santa Barbara, CA
$829,000
-20000 (2.36%)
Seattle, WA
$439,900
-50 (0.01%)
St Louis, MO
$169,900*
-10000 (5.56%)
Tampa, FL
$249,900*
-15100 (5.70%)
Tucson, AZ
$274,900
+5000 (1.85%)
Washington, DC
$439,900
-29100 (6.20%)
February 07, 2007
HousingWatch shows you the housing meltdown in real time with asking prices by city
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15 comments:
Wow great!
My wife and I almost bought last April but found our current rental house during the search. This place is so great and is in one of the best neighborhoods that we could not afford to buy it. It's also good to know that we have saved about $50k during the last year by not buying, now that's what I call an investment( just a joke, don't start nitpicking)!
Good info but remember median price is defined as the price at which there are the same number of homes above the median as below the median.
So, if the median price is $500,000 and a home which previously sold above the median price has a price reduction for a current sale from $800,000 to $600,000, the median is still $500,000.
Therefore, even a slight decrease in the median price is huge.
Also, the median price can increase if builders put homes on the market above the median and sell at a price reduction same as above.
I am not a fan of the median but even small changes can signal huge changes in sales pricing.
According to their site, prices in New York are surging.
Unfortunately, no Jacksonville, FL.
One thing that I find interesting is that the JAX median asking price is typically about $100k more than the median sale price. Can anyone shed some light onto why this may be? I can only guess that either higher end homes not selling are skewing the median numbers or that the data are faulty.
**** PRICE REDUCTION OWNER SAYS SELL ****
330 Jefferson St
Daytona Beach Fl 32114
1 story home, 3 bedroom, 1 bath, 981 living sqft, central heat & air. This home was built in 1939. GREAT rental property!
Price: $ 45K with a quick close. Was......... $60k!
Approx after repair value: $90k
Showing Instructions: Call 407 897 0911 for arrangements.
Comps:
756 Winchester St $95k 7/06
11611 hillcrest Dr $105k 5/06
WE WILL FINANCE ANY PROPERTY WE SELL!
FIRST ALLIANCE CAPITAL, L.L.C.
2203 E. Hillcrest St.
Orlando, FL 32803
(407) 897-0911
NOW THAT DAYTONA PROPERTY IS A PRICE REDUCTION.
I'D CHECK THE NEIGHBORHOOD THOUGH.
IW
Meh, those are all pretty major cities.... You gotta keep in mind there is a lot of white flight going on out there. It would be interesting to see the numbers on lesser(around 500,000) populated little burbs.
it's a start
so this only shows asking prices but not sold prices?
I have been watching the real estate market closely here in Boise for about over a year. I can guarantee you that home prices right now have not been going up as realtors would have you believe (and as you site on the main page). The numbers saying that homes have appreciated here in Boise are totally phoney. We have all kinds of cash back deals, free vacations, ect... that are masking what is really occurring. The price drop has been particularly bad in the houses $350,000 and up. Those homes are simply not selling. What's worse is that jobs that pay over 30k per year are very scarce even with advanced degrees.
Right now, developers have massive inventory and are doing all kinds of deals like no payments for a year. The real estate market is crashing and the local media is either totally decieved by the realtor supplied numbers or they are lying through their teeth in order to keep all the realtors happy so they can wallow in their advertisement money. We are crashing here in Boise and I suspect we will fall at least another 10% in the next year--- probably 30% to 50% in the next 5 years. Its a bad, bad time to buy in Boise even though every open house I go too seems to have a realtor behind it who is hyping how its important to buy before the spring rush.
What's even stranger out here in Boise is all the vacant commercial property. It seems like on every city block their are commercial buildings for sale or rent. Most of these at one time were occupied by businesses that obviously can not make enough of a profit given the expensive real estate/high taxes. Is anyone out their looking at the commercial side of the real estate bubble? Maybe, its a worthy topic for you blog Keith.
The only good thing about the crash is that I have noticed in the last few months more and more realtors have put out cookies and free water bottles at their open houses.
Keep the snacks coming realtors. They are appreciated.
Sincerely,
Bubble Bustin' Boisian
Denver:
The $297,368 average price for a home sold by a Realtor in January was 7.5 percent lower than $321,524 in December and a 3.2 percent drop from the $306,982 price in January 2006, according to a report released Tuesday by independent broker Gary Bauer.
The median, or middle, price of a single-family home fell to $236,000, a 4.5 percent drop from December and a 3.7 percent drop from January 2006. Bauer's analysis is based on data released by MetroList Inc., which tracks homes sold by Realtors.
"It is the biggest percentage drop of any month I have on record," both on a year-over-year and month-to-month basis, Bauer said. Bauer's records for the average price date back to 1985.
Ya, you can fit another country in this "surrounding area"!!!
Whatever.
Chicago, IL region includes the following cities:
Alsip, Argo, Ashburn Park, Bedford Park, Bensenville, Berwyn, Blue Island, Bridgeview, Burbank, Burnham, Calumet City, Calumet Park, Chicago, Chicago Lawn, Cicero, Clearing, Cragin, Crestwood, Des Plaines, Dixmoor, Dolton, Edgebrook, Elk Grove Village, Elmwood Park, Elsdon, Englewood, Evanston, Evergreen Park, Forestview, Fort Dearborn, Franklin Park, Graceland, Grand Crossing, Hammond, Harvey, Harwood Heights, Haymarket, Hegewisch, Hometown, Hyde Park, Jackson Park, Jefferson, Jefferson Park, Lakeview, Lincoln Park, Lincolnwood, Markham, Merrionette Park, Midlothian, Morgan Park, Mount Greenwood, Niles, Norridge, North Town, Norwood Park, Oak Lawn, Oak Park, Ogden Park, Palos Heights, Park Ridge, Phoenix, Pilsen, Ravenswood, River Forest, River Grove, Riverdale, Robbins, Robertsdale, Rogers Park, Roseland, Rosemont, Schiller Park, Skokie, Stickney, Stock Yards, Summit, Summit-argo, Whiting, Wicker Park, Worth
Lots of places in there that are uninhabitable by regular people!
I prefer numbers that show how much each city is down from it's peak. I can't find a source that gives those numbers in a nice chart but if you can find source data at: housingtracker.net/old_housingtracker/
Just for one example, Sacramento is showing an 11% decline from its peak so far. If someone has time, it would great to be able to track declines based on peaks.
I've gotta believe it's the cash back deals keeping Tucson and Boise up there - fraud central
Anonymous said...
I've gotta believe it's the cash back deals keeping Tucson and Boise up there - fraud central
Thursday, February 08, 2007 6:32:23 AM
Yes, you are right, along with other tactics.
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