Realtor.com released new data this month showing the median list price for homes in December, $187,900, was essentially the same as in 2011, which could signal a general leveling off of year-over-year asking prices.

In June of last year, median asking home prices climbed to $195,000.Bad Real Estate Deal Image

“While list prices increased significantly during the first half of the year, they have declined in recent months, with the median list price in December now roughly the same as it was one year ago,” according to Realtor.com.

“In addition, a growing number of housing markets — primarily in older industrialized areas — are registering year-over-year list price declines. These potentially off-setting trends and suggest that house price appreciation in the upcoming year is likely to be more moderate than it was in 2012.”

Metros posting some of the largest year-over-year declines in median asking prices were:

  • Peoria-Pekin, Ill.: -14.29 percent
  • Reading, Pa: -7.84 percent
  • Charleston, W.Va.: -7.78 percent
  • Fort Wayne, Ind.: -7 percent
  • Jersey City, N.J.: -6.68 percent
  • Philadelphia, Pa.-N.J.: -6.36 percent

Still, some real estate markets are outperforming year-over-year and continuing to see big rises in asking prices. For example, California markets continue to see some of the largest year-over-year increases in median list prices, according to Realtor.com. Many of the markets seeing the largest rises to the median list prices also are seeing big inventory declines — sometimes by 40 percent or more year-over-year.

The 10 metros posting the largest increases to list prices year-over-year, according to Realtor.com, are:

  • Sacramento, Calif.: +42.57 percent
  • Santa Barbara-Santa Maria-Lompoc, Calif.: +35.72 percent
  • San Francisco: +25.04 percent
  • San Jose, Calif.: +23.53 percent
  • Phoenix-Mesa, Ariz.: 21.21 percent
  • Atlanta: +19.93 percent
  • Oakland, Calif.: +17.22 percent
  • Seattle-Bellevue-Everett, Calif.: 16.66 percent
  • Fresno, Calif.: +16.28 percent
  • Riverside-San Bernardino, Calif.: +15.65 percent

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This is filed under Home Selling.


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