8 Cities Where Asking Prices Are Soaring

October 18, 2013

Asking prices on homes for-sale are edging higher nationwide in the past year, with prices 6.40 percent higher than year ago levels, according to realtor.com®’s September National Housing Trend Report. Nationwide, the national median list price for homes was $199,500 last month. 

Of the 146 markets that realtor.com® tracks in its report, more than 20 percent reported year-over-year over price gains of 12 percent or more. 

In some areas, asking prices have jumped even more — by 26 percent or more — in the past year. In Detroit alone, asking prices have surged 44.57 percent year-over-year. 

The following metros have seen some of the largest gains in median asking prices year-over-year:

1. Detroit: +44.57%
Median list price: $133,000

2. Stockton-Lodi, Calif.: +41.12%
Median list price: $239,900

3. Santa Barbara-Santa Maria-Lompoc, Calif.: +32.10%
Median list price: $786,000

4. Las Vegas, Nev.-Ariz.: +30.69%
Median list price: $169,900

5. Reno, Nev.: +29.63%
Median list price: $259,250

6. Sacramento, Calif.: +28.94%
Median list price: $303,000

7. Oakland, Calif.: +27.99%
Median list price: $479,950

8. Melbourne-Titusville-Palm Bay, Fla.: +26.90%
Median list price: $165,000

Source: Realtor.com National Housing Trend Report (September 2013)

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