Across the
“In addition to higher median list prices and fewer homes for sale versus 2019, the increase in median price-per-square foot suggests that the typical home on the market today is worth 52.7% more than before the pandemic, more than double the roughly 23% increase in consumer price inflation in this period.” said
Metric |
Change over |
Change over |
Median List Price Per Sq.Ft. |
+3.8 % |
+52.7 |
Median listing price |
+0.3% (to |
+37.5 % |
Active listings |
+35.2 % |
-33.3 % |
New listings |
+6.2 % |
-26 % |
Median days on market |
+1 days (to 44 days) |
-8 days |
Share of active listings with price reductions |
+3.8 percentage points (to 16.6%) |
+1.2 percentage points |
A Closer Look at Price Per Square Foot
The median price of homes for sale this May remained relatively stable growing from
Metros with Highest Increase in Median List Price-Per-Sq. Ft. Compared to
New York –Newark –Jersey City , N.Y.-N.J.-Pa. – 84.7%Boston –Cambridge –Newton, Mass. -N.H. – 72.9%Nashville –Davidson –Murfreesboro –Franklin, Tenn. – 68.6%Tampa –St. Petersburg-Clearwater , Fla. – 68.0%San Diego –Chula Vista –Carlsbad, Calif. – 65.7%Austin –Round Rock –Georgetown, Texas – 64.7%Memphis, Tenn. -Miss.-Ark. – 64.2%Riverside –San Bernardino –Ontario, Calif. – 62.7%Washington –Arlington –Alexandria , DC-Va.-Md.-W. Va . – 61.3%- Hartford-
East Hartford –Middletown, Conn. 57.7%
Income Required Continues to Rise
The increase in median price per square foot between
Inventory Rises with More Affordable Homes Entering the Market
For the seventh straight month, homes actively for sale rose, with 35.2% more homes actively for sale in
As the market continues to evolve, homeowners, buyers and sellers looking to stay on top of the potential effects of fluctuations in the real estate market can use tools like MyHome on Realtor.com ® to get trusted home valuations, estimate how much can be made by hosting a home on Airbnb, explore projects that can add the most value to a home and more.
Additional details and full analysis of the market inventory levels and additional trends in listing prices and more can be found in the Realtor.com ® May Monthly Housing Report.
List of Metro Areas Sorted by Median Listing Price per Sq. Ft. vs 2019 (Most to Least)
Metro Area |
Median Listing Price |
Median Listing Price YoY |
Median Listing Price per Sq. Ft. YoY |
Median Listing Price vs |
Median Listing Price per Sq. Ft. vs 2019 |
|
|
7.50 % |
10.20 % |
34.00 % |
84.70 % |
|
|
3.80 % |
10.20 % |
49.40 % |
72.90 % |
|
|
1.50 % |
6.10 % |
57.10 % |
68.60 % |
|
|
-3.20 % |
-0.50 % |
49.60 % |
68.00 % |
|
|
1.60 % |
5.70 % |
49.50 % |
65.70 % |
|
|
-3.10 % |
0.20 % |
52.30 % |
64.70 % |
|
|
7.70 % |
1.80 % |
52.10 % |
64.20 % |
|
|
6.80 % |
6.60 % |
48.00 % |
62.70 % |
|
|
0.00 % |
8.40 % |
31.30 % |
61.30 % |
|
|
5.10 % |
14.10 % |
49.00 % |
57.70 % |
|
|
2.90 % |
1.80 % |
45.50 % |
57.70 % |
|
|
7.10 % |
5.70 % |
39.80 % |
56.90 % |
|
|
0.00 % |
4.00 % |
22.30 % |
56.80 % |
|
|
N/A |
N/A |
49.10 % |
56.20 % |
|
|
-2.10 % |
0.50 % |
39.70 % |
55.30 % |
|
|
8.50 % |
7.30 % |
55.10 % |
54.90 % |
|
|
2.20 % |
5.90 % |
29.70 % |
54.80 % |
|
|
0.90 % |
4.60 % |
23.70 % |
54.50 % |
|
|
-0.90 % |
1.00 % |
34.20 % |
54.00 % |
|
|
9.30 % |
8.30 % |
33.90 % |
53.80 % |
|
|
-2.60 % |
4.40 % |
23.20 % |
53.70 % |
|
|
-1.40 % |
2.50 % |
28.50 % |
52.90 % |
|
|
-1.60 % |
4.70 % |
32.20 % |
52.20 % |
|
|
18.60 % |
10.50 % |
35.80 % |
50.30 % |
|
|
-11.20 % |
-7.80 % |
34.90 % |
49.70 % |
|
|
-4.90 % |
-1.10 % |
35.40 % |
48.90 % |
|
|
-5.50 % |
-0.20 % |
24.60 % |
47.00 % |
Providence- |
|
8.50 % |
1.00 % |
54.20 % |
46.90 % |
|
|
-6.30 % |
1.90 % |
24.10 % |
46.80 % |
|
|
2.10 % |
6.60 % |
33.90 % |
45.60 % |
|
|
-2.10 % |
1.10 % |
26.10 % |
44.40 % |
|
|
-4.30 % |
0.50 % |
31.20 % |
44.00 % |
|
|
5.00 % |
4.10 % |
17.30 % |
42.70 % |
|
|
6.70 % |
7.90 % |
31.20 % |
40.90 % |
|
|
1.60 % |
4.20 % |
36.70 % |
40.70 % |
|
|
-2.30 % |
1.80 % |
30.50 % |
40.40 % |
|
|
-2.60 % |
-0.90 % |
17.80 % |
40.00 % |
|
|
-1.30 % |
0.30 % |
13.90 % |
38.10 % |
|
|
1.10 % |
1.90 % |
27.60 % |
35.80 % |
|
|
6.30 % |
6.90 % |
17.90 % |
32.40 % |
|
|
10.90 % |
6.30 % |
35.00 % |
32.40 % |
|
|
10.80 % |
10.90 % |
34.60 % |
32.20 % |
|
|
15.90 % |
15.20 % |
35.50 % |
31.40 % |
|
|
-11.70 % |
-4.40 % |
7.50 % |
30.80 % |
|
|
1.20 % |
2.30 % |
13.20 % |
26.40 % |
|
|
-1.90 % |
-1.50 % |
16.00 % |
26.40 % |
|
|
-4.00 % |
-0.40 % |
23.60 % |
26.30 % |
|
|
2.80 % |
2.10 % |
6.50 % |
24.80 % |
|
|
-3.00 % |
0.50 % |
-0.20 % |
23.20 % |
|
|
N/A |
N/A |
N/A |
N/A |
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