Median list prices in May edged up 2.10 percent month-over-month, as housing inventories also were on the rise, creating a greater balance between supply and demand, according to realtor.com’s latest Real Estate Health Report.
Nationwide median list price was $199,000 for May, up 4.79 percent year-over-year!
“We are seeing large regional markets across the country leading the way to national recovery. These regions are acting as a microcosm for what’s slowly happening in the larger real estate market,” says Steve Berkowitz, chief executive officer of Move. “Overall, we’re seeing seller confidence beginning to respond to consumer demand. Nationally, there are more homes going on the market for a shorter amount of time. And this is happening in our hot markets on a much larger scale.”
California housing markets are seeing some of the highest median price gains.
Some of the highest year-over-year list price gains:
Sacramento, Calif.: up 42.45% Median list price: $284,900
Oakland, Calif.: up 38.27% Median list price: $495,000
San Jose, Calif.: up 30.58% Median list price: $679,000
Los Angeles-Long Beach, Calif.: up 27.80% Median list price: $428,000