Real Estate

Home Prices Rose 7% in January, Housing Supply Fell 11%

Imbalance between demand from homebuyers and supply of homes for sale is heating up many markets across the U.S.

U.S. home-sale prices increased 6.7% year over year in January to a median of $306,400 across the 217 metros Redfin tracks. Home prices were also up 0.7% month over month on a seasonally-adjusted basis.

The most affordable metro areas continued to experience the biggest gains in home prices in January. Among the 20 metro areas with the largest year-over-year price increases, 18 had prices below the national median, led in January by Memphis (median price $182,900, up 17.1%), Dayton, OH ($132,000, +14.8%) and Rochester, NY ($148,500, +13.3%).

That said, low inventory is causing a crunch in many markets across the country, even the expensive coastal cities.

“Every home is getting multiple offers, often going for substantially above the asking price,” said San Fernando Valley Redfin agent Robert Iles. “One offer I recently submitted for a client faced competition from 23 other offers, and that was when the seller’s counteroffer included the term requiring our offer to be no less than $100,000 above the list price.”

“Buyers are getting pretty upset about the lack of inventory,” said Seattle Redfin agent Pauline Corbett. “There’s a growing sense of desperation as bidding wars stretch out their home searches.”

Of the 85 largest metro areas Redfin tracks, only three saw a year-over-year decline in the median sale price: San Jose (-4.3%), Baton Rouge (-4.1%) and Greenville, SC (-1.4%).

Year-Over-Year Home Price Gains Remained at 20-Month High in January

Market Summary January 2020 Month-Over-Month Year-Over-Year
Median sale price $306,400 -1.7% 6.7%
Homes sold, seasonally-adjusted 277,500 -1.1% 6.7%
New listings, seasonally-adjusted 311,400 -0.4% -4.5%
Active listings during the month, seasonally-adjusted 1,061,700 -1.6% -11.4%
Median days on market 56 6 -2
Months of supply 3.5 1 -1
Sold above list 18.7% -1.0 pts 1.0 pts
Median Off-Market Redfin Estimate $297,100 4.7% 3.0%
Average Sale-to-list 97.7% -0.2 pts 0.3 pts

† – “pts” = percentage point change

Nationwide, home sales increased 6.7% year over year in January, the sixth consecutive month of increases, but were down 1.1% from December on a seasonally-adjusted basis.

“Typically, we don’t see this many buyers in January, but with mortgage rates at a 3-year low, there are plenty of early-birds hoping to secure a home and lock in an affordable mortgage payment,” said Redfin chief economist Daryl Fairweather. “Home sellers, on the other hand, see that the market is clearly heating up and have no reason to rush to list their homes or to make price cuts in order to secure a sale. Back in December, it wasn’t clear if demand would pick up in the new year, so some sellers were willing to accept lower prices, which borrowed some demand from January and resulted in the slight dip in sales we’re seeing now.”

The markets with the biggest increases in home sales from a year ago were North Port, FL (29.9%), Las Vegas (23.8%) and Anaheim, CA (23.2%).

Home Sales Growth Slowed Slightly in January

This month we’re introducing a new measure of housing supply called “active listings,” which is a count of all homes that were for sale at any time during the month. This is opposed to “inventory” which is a count of only the homes for sale on the last day of the month.

The active listings of homes for sale during January fell 11.4% year over year, the biggest decline since March 2013 and the sixth straight month of declines. There were fewer homes for sale last month than any time since January 2013. None of the 85 largest metros tracked by Redfin posted a year-over-year increase in the count of seasonally-adjusted active listings of homes for sale.

Compared to a year ago, the biggest declines in active housing supply in January were in Salt Lake City (-49.5%), Allentown, PA (-33.1%) and Kansas City, MO (-28.9%).

Active Listings Fell 11% Year Over Year in January

The number of new listings also fell in January, down 4.5% from a year earlier.

Change in New Listings Fell to an 8-Year Low in January

Seasonally-adjusted new listings in December fell the most from a year earlier in Salt Lake City (-39.8%), followed by Allentown, PA (-30.8%) and St. Louis, MO (-27.8%).

Homes sold in January spent two fewer days on market compared to the prior year. In January, the typical home went under contract in 56 days, compared to 58 days in January 2019.

The share of homes that sold above list price increased 1.1 percentage point year over year, coming in at 18.7% in January compared to 17.6% a year earlier.

Homes Sold Sold 2 Days Faster in January Than a Year Prior

Share of Homes Sold Above List Price Rose Slightly Year Over Year in January


Other January Highlights

Competition

Prices

Sales

  • North Port, FL led the nation in year-over-year sales growth, up 29.9%, followed by Las Vegas, up 23.8%. Anaheim, CA rounded out the top three with sales up 23.2% from a year ago.
  • Allentown, PA saw the largest decline in sales since last year, falling 9.2%. Home sales in Rochester, NY and Detroit declined by 8.0% and 7.5%, respectively.

Active Listings

  • Zero metro areas had growth in the number of homes for sale compared with last January.
  • Salt Lake City had the largest decrease in overall inventory, falling 49.5% since last January. Allentown, PA (-33.1%), Kansas City, MO (-28.9%), and Greensboro, NC (-25.8%) also saw far fewer homes available on the market than a year ago.

Redfin Estimate

Below are market-by-market breakdowns for prices, inventory, new listings and sales for markets with populations of 750,000 or more. For downloadable data on all of the markets Redfin tracks, visit the Redfin Data Center.

Median Sale Price

Redfin Metro Median Sale Price Month-Over-Month Year-Over-Year
Albany, NY $205,000 -4.7% 2.5%
Allentown, PA $190,000 -7.5% 2.7%
Anaheim, CA $745,000 3.5% 8.2%
Atlanta, GA $240,700 -3.7% 4.2%
Austin, TX $310,000 -3.8% 5.1%
Bakersfield, CA $240,000 -4.0% 3.9%
Baltimore, MD $259,000 -7.4% 4.4%
Baton Rouge, LA $196,500 -8.6% -4.1%
Birmingham, AL $205,500 -2.1% 11.1%
Boston, MA $505,000 1.0% 7.4%
Bridgeport, CT $385,000 -1.3% 8.5%
Buffalo, NY $155,000 -3.1% 9.8%
Camden, NJ $187,500 -3.4% 10.4%
Charlotte, NC $255,000 -4.1% 9.9%
Chicago, IL $235,000 -2.1% 4.4%
Cincinnati, OH $180,000 -3.7% 12.1%
Cleveland, OH $146,500 1.0% 8.1%
Columbus, OH $204,100 -2.8% 9.7%
Dallas, TX $285,000 -5.0% 7.5%
Dayton, OH $132,000 -2.1% 14.8%
Denver, CO $415,000 0.7% 5.1%
Detroit, MI $127,500 -5.6% 6.3%
El Paso, TX $162,000 -4.1% 8.0%
Elgin, IL $225,000 4.7% 7.7%
Fort Lauderdale, FL $278,000 -0.7% 11.2%
Fort Worth, TX $245,000 -1.2% 8.9%
Frederick, MD $400,000 -2.4% 8.1%
Fresno, CA $283,500 3.1% 8.0%
Grand Rapids, MI $201,000 -2.0% 5.2%
Greensboro, NC $175,900 0.5% 9.9%
Greenville, SC $205,000 -2.4% -1.4%
Hartford, CT $220,000 0.0% 10.0%
Houston, TX $235,000 -7.3% 4.9%
Indianapolis, IN $179,000 -6.8% 7.2%
Jacksonville, FL $233,000 -1.7% 11.0%
Kansas City, MO $215,000 -3.2% 2.4%
Knoxville, TN $207,600 -5.4% 7.6%
Lake County, IL $218,500 -2.5% 8.3%
Las Vegas, NV $285,000 -3.1% 1.8%
Los Angeles, CA $635,000 -2.3% 7.6%
Louisville, KY $185,000 -6.4% 1.4%
McAllen, TX $160,500 -0.7% 4.2%
Memphis, TN $182,900 -3.6% 17.1%
Miami, FL $310,000 -1.6% 7.3%
Milwaukee, WI $210,000 -2.5% 11.7%
Minneapolis, MN $271,000 -3.2% 4.2%
Montgomery County, PA $325,000 3.2% 8.3%
Nashville, TN $295,000 -5.5% 4.1%
Nassau County, NY $460,000 -1.1% 5.7%
New Brunswick, NJ $320,000 0.8% 3.5%
New Haven, CT $201,200 -6.0% 11.2%
New Orleans, LA $228,000 -0.9% 8.6%
New York, NY $500,000 1.0% 5.3%
Newark, NJ $361,000 -1.6% 12.8%
North Port, FL $285,000 0.0% 4.8%
Oakland, CA $685,000 -5.5% 3.8%
Oklahoma City, OK $176,000 -4.9% 6.3%
Omaha, NE $195,000 -3.9% 0.7%
Orlando, FL $260,000 -2.8% 7.4%
Oxnard, CA $630,000 4.1% 8.6%
Philadelphia, PA $210,000 0.0% 12.6%
Phoenix, AZ $293,000 0.3% 9.9%
Pittsburgh, PA $160,000 -5.8% 9.2%
Portland, OR $405,000 1.2% 6.0%
Providence, RI $295,000 2.1% 11.7%
Raleigh, NC $289,900 0.0% 3.5%
Richmond, VA $252,000 -4.9% 5.2%
Riverside, CA $385,000 1.3% 7.6%
Rochester, NY $148,500 0.0% 13.3%
Sacramento, CA $401,500 -2.5% 7.1%
Salt Lake City, UT $348,000 0.1% 8.7%
San Antonio, TX $225,000 -4.3% 4.2%
San Diego, CA $600,000 3.4% 8.1%
San Francisco, CA $1,300,000 -1.2% 5.5%
San Jose, CA $985,500 -7.0% -4.3%
Seattle, WA $550,000 -3.5% 5.8%
St. Louis, MO $178,000 -3.8% 2.9%
Tacoma, WA $380,000 1.3% 11.8%
Tampa, FL $237,000 -3.3% 7.7%
Tucson, AZ $229,000 -3.4% 6.5%
Tulsa, OK $175,000 -2.1% 10.8%
Honolulu, HI $595,700 -3.1% 0.1%
Virginia Beach, VA $230,000 -4.0% 7.1%
Warren, MI $208,800 -0.6% 11.1%
Washington, D.C. $399,000 -4.2% 3.6%
West Palm Beach, FL $285,000 -1.7% 7.5%
Worcester, MA $275,000 -2.5% 10.3%
National $306,400 -1.7% 6.7%

Homes Sold

Redfin Metro Homes Sold, seasonally adjusted Month-Over-Month Year-Over-Year
Albany, NY 821 -2.0% -2.8%
Allentown, PA 865 -5.0% -3.5%
Anaheim, CA 2,524 -4.5% 23.2%
Atlanta, GA 9,243 -1.1% 3.4%
Austin, TX 2,995 -3.2% 3.5%
Bakersfield, CA 733 -2.0% 1.7%
Baltimore, MD 3,767 1.6% 11.7%
Baton Rouge, LA 912 3.8% 20.8%
Boston, MA 4,282 -4.2% 8.7%
Bridgeport, CT 1,025 -5.0% 13.3%
Buffalo, NY 1,011 -2.9% 2.9%
Camden, NJ 1,645 -0.7% -1.7%
Charlotte, NC 3,746 -3.9% 8.6%
Chicago, IL 7,981 -1.5% 6.3%
Cincinnati, OH 2,674 -1.3% 4.4%
Cleveland, OH 2,446 -0.7% 3.9%
Columbus, OH 2,575 -2.8% 1.8%
Dallas, TX 5,831 -0.3% 8.8%
Dayton, OH 992 -5.2% -2.0%
Denver, CO 4,877 -2.2% 9.0%
Detroit, MI 1,691 -4.3% -5.4%
El Paso, TX 802 10.5% 18.3%
Elgin, IL 965 1.2% 3.4%
Fort Lauderdale, FL 2,781 -5.7% -2.8%
Fort Worth, TX 2,923 0.6% 6.3%
Frederick, MD 1,498 -1.0% 21.7%
Fresno, CA 754 -3.7% 1.4%
Grand Rapids, MI 1,339 -0.1% 4.9%
Greensboro, NC 829 -1.4% 10.3%
Greenville, SC 1,147 -2.0% 14.6%
Hartford, CT 1,373 0.0% 9.7%
Houston, TX 7,813 -0.5% 11.3%
Indianapolis, IN 2,939 -1.1% 9.2%
Jacksonville, FL 2,416 -5.5% 3.4%
Kansas City, MO 2,998 -0.8% 0.5%
Knoxville, TN 1,240 -4.3% 5.0%
Lake County, IL 1,099 0.4% 7.2%
Las Vegas, NV 3,681 4.4% 23.6%
Los Angeles, CA 5,906 -0.5% 13.8%
Louisville, KY 1,292 -0.8% 2.6%
McAllen, TX 295 -4.6% 10.2%
Memphis, TN 1,077 -4.3% -4.3%
Miami, FL 2,361 -9.2% -1.0%
Milwaukee, WI 1,791 -2.1% 2.3%
Minneapolis, MN 5,043 -1.8% 0.1%
Montgomery County, PA 2,295 0.8% 12.0%
Nashville, TN 3,445 -3.2% 10.2%
Nassau County, NY 2,657 0.3% 5.9%
New Brunswick, NJ 3,147 4.4% 3.3%
New Haven, CT 923 -2.1% 11.9%
New Orleans, LA 1,260 7.9% 16.4%
New York, NY 4,398 -0.1% -3.8%
Newark, NJ 2,224 0.3% 8.6%
North Port, FL 2,031 -3.1% 18.2%
Oakland, CA 2,188 -4.9% 0.9%
Oklahoma City, OK 1,857 -2.6% 2.8%
Omaha, NE 1,093 -5.6% -4.2%
Orlando, FL 4,122 -0.2% 12.5%
Oxnard, CA 707 0.4% 9.5%
Philadelphia, PA 2,182 -0.7% 11.0%
Phoenix, AZ 8,481 -0.5% 19.5%
Pittsburgh, PA 2,130 -2.5% 3.6%
Portland, OR 3,145 -3.9% 5.5%
Providence, RI 1,771 -5.3% 1.8%
Raleigh, NC 2,449 -3.8% 18.9%
Richmond, VA 1,619 -1.4% 7.1%
Riverside, CA 4,838 0.4% 12.4%
Rochester, NY 1,001 -6.2% -7.6%
Sacramento, CA 2,626 -1.1% 4.7%
Salt Lake City, UT 1,491 -1.7% -0.6%
San Antonio, TX 2,818 -2.1% 2.4%
San Diego, CA 3,019 -2.2% 12.7%
San Francisco, CA 932 0.0% 7.2%
San Jose, CA 1,167 -3.7% 5.4%
Seattle, WA 3,881 -2.7% 2.5%
St. Louis, MO 3,331 -5.7% -1.3%
Tacoma, WA 1,292 -2.4% 0.5%
Tampa, FL 5,454 -3.0% 5.0%
Tucson, AZ 1,509 -3.1% 7.9%
Tulsa, OK 1,146 -1.5% -0.9%
Honolulu, HI 774 5.1% 5.5%
Virginia Beach, VA 2,141 -4.7% 2.6%
Warren, MI 3,466 0.2% 2.8%
Washington, D.C. 5,938 -3.2% -3.5%
West Palm Beach, FL 2,815 -0.1% 4.6%
Worcester, MA 1,043 0.5% 7.8%
National 277,500 -1.1% 6.7%

New Listings

Redfin Metro New Listings, seasonally adjusted Month-Over-Month Year-Over-Year
Albany, NY 1,031 10.3% -1.4%
Allentown, PA 770 -8.7% -30.8%
Anaheim, CA 2,803 0.8% -5.1%
Atlanta, GA 10,420 -2.3% -5.1%
Austin, TX 3,482 -1.2% -1.1%
Bakersfield, CA 823 -5.1% -11.9%
Baltimore, MD 4,287 0.7% -0.1%
Baton Rouge, LA 825 -1.5% -24.0%
Boston, MA 4,837 5.1% -13.4%
Bridgeport, CT 1,291 4.3% -4.2%
Buffalo, NY 1,193 10.2% 7.7%
Camden, NJ 1,856 -4.3% -9.7%
Charlotte, NC 4,063 1.0% -4.3%
Chicago, IL 10,504 0.1% 0.7%
Cincinnati, OH 2,941 -0.9% 1.2%
Cleveland, OH 2,880 1.9% 0.4%
Columbus, OH 2,985 5.9% 7.3%
Dallas, TX 7,160 -0.1% 0.7%
Dayton, OH 1,195 0.2% 13.5%
Denver, CO 4,929 -4.8% -8.2%
Detroit, MI 2,290 6.2% 3.1%
El Paso, TX 1,030 14.5% 18.9%
Elgin, IL 1,193 2.8% 6.6%
Fort Lauderdale, FL 3,466 -2.1% -15.5%
Fort Worth, TX 3,489 -1.5% -1.2%
Frederick, MD 1,732 2.1% 2.8%
Fresno, CA 795 -2.6% -12.3%
Grand Rapids, MI 1,477 1.4% -0.2%
Greensboro, NC 688 6.1% -19.1%
Greenville, SC 1,244 -9.2% -3.4%
Hartford, CT 1,550 10.2% 15.7%
Houston, TX 9,934 0.6% 2.4%
Indianapolis, IN 2,978 5.1% -0.1%
Jacksonville, FL 2,850 1.9% 1.2%
Kansas City, MO 2,599 -9.2% -25.9%
Knoxville, TN 1,192 2.7% -12.5%
Lake County, IL 1,441 12.6% 11.4%
Las Vegas, NV 3,554 0.1% -18.6%
Los Angeles, CA 6,486 -1.0% -10.4%
Louisville, KY 1,486 3.9% -4.2%
McAllen, TX 473 15.4% 14.3%
Memphis, TN 1,269 2.6% -2.7%
Miami, FL 3,650 -2.1% -14.2%
Milwaukee, WI 1,859 -0.7% -1.5%
Minneapolis, MN 5,529 -0.2% -0.3%
Montgomery County, PA 2,531 -4.6% -4.8%
Nashville, TN 4,070 1.4% 0.6%
Nassau County, NY 3,357 1.8% -5.7%
New Brunswick, NJ 3,702 9.1% -4.5%
New Haven, CT 1,145 3.4% 6.1%
New Orleans, LA 1,448 4.7% -6.2%
New York, NY 8,052 7.3% -2.3%
Newark, NJ 2,709 19.6% -4.7%
North Port, FL 2,228 0.5% -5.6%
Oakland, CA 2,355 -4.2% -12.9%
Oklahoma City, OK 2,255 1.3% 8.2%
Omaha, NE 1,210 -5.3% -0.2%
Orlando, FL 4,297 -3.7% -7.5%
Oxnard, CA 802 -0.4% -5.4%
Philadelphia, PA 2,804 5.1% 0.7%
Phoenix, AZ 8,041 -1.6% -9.8%
Pittsburgh, PA 2,491 -0.1% -1.2%
Portland, OR 3,409 1.5% -8.3%
Providence, RI 2,181 3.6% 0.9%
Raleigh, NC 2,574 5.4% 2.2%
Richmond, VA 1,782 3.0% 1.0%
Riverside, CA 5,284 -0.7% -8.3%
Rochester, NY 1,181 -1.1% -0.5%
Sacramento, CA 3,032 1.2% -0.9%
Salt Lake City, UT 1,131 -16.9% -39.8%
San Antonio, TX 3,193 -10.7% -7.7%
San Diego, CA 3,234 -2.0% -8.3%
San Francisco, CA 975 -6.0% -14.2%
San Jose, CA 1,229 -0.9% -12.6%
Seattle, WA 4,120 0.2% -4.7%
St. Louis, MO 3,152 -3.1% -27.8%
Tacoma, WA 1,277 -6.7% -12.0%
Tampa, FL 5,870 -0.6% -6.9%
Tucson, AZ 1,586 1.9% -2.0%
Tulsa, OK 795 -32.9% -40.6%
Honolulu, HI 816 -1.9% -26.8%
Virginia Beach, VA 2,533 4.0% 2.0%
Warren, MI 3,935 1.5% -5.8%
Washington, D.C. 6,954 3.5% 4.0%
West Palm Beach, FL 3,398 -2.3% -9.7%
Worcester, MA 1,162 10.9% 3.4%
National 311,400 -0.4% -4.5%

Active listings

Redfin Metro All Homes for Sale, seasonally adjusted Month-Over-Month Year-Over-Year
Albany, NY 3,673 -2.9% -12.0%
Allentown, PA 2,531 -5.0% -33.1%
Anaheim, CA 9,612 -3.2% -17.8%
Atlanta, GA 35,345 -0.4% -5.8%
Austin, TX 10,014 -0.5% -11.7%
Bakersfield, CA 2,611 -2.9% -14.0%
Baltimore, MD 13,624 -2.0% -7.2%
Baton Rouge, LA 4,165 -2.8% -18.7%
Boston, MA 12,941 -2.2% -8.7%
Bridgeport, CT 6,534 -4.9% -6.0%
Buffalo, NY 3,079 0.6% -11.6%
Camden, NJ 7,113 -2.3% -19.5%
Charlotte, NC 14,014 -0.4% -11.4%
Chicago, IL 40,932 1.2% 5.4%
Cincinnati, OH 9,835 -0.9% -10.9%
Cleveland, OH 9,955 -2.7% -10.3%
Columbus, OH 8,842 -0.1% -1.3%
Dallas, TX 25,038 -0.2% -1.6%
Dayton, OH 3,350 0.7% -10.3%
Denver, CO 11,456 -3.2% -12.9%
Detroit, MI 7,358 -0.1% -0.9%
El Paso, TX 3,561 3.4% 5.0%
Elgin, IL 4,368 2.5% 6.1%
Fort Lauderdale, FL 16,164 -2.8% -11.8%
Fort Worth, TX 10,804 -0.8% -0.2%
Frederick, MD 5,014 0.0% -1.5%
Fresno, CA 2,261 -4.6% -17.4%
Grand Rapids, MI 3,805 -0.5% -2.6%
Greensboro, NC 2,389 -5.4% -25.8%
Greenville, SC 5,126 -3.2% -0.8%
Hartford, CT 6,122 -5.0% -5.1%
Houston, TX 36,723 -0.4% -0.7%
Indianapolis, IN 8,017 -0.7% -8.8%
Jacksonville, FL 9,940 -1.2% -10.5%
Kansas City, MO 7,701 -6.4% -28.9%
Knoxville, TN 4,572 -3.6% -2.7%
Lake County, IL 5,846 2.1% 3.1%
Las Vegas, NV 13,221 -3.1% -13.0%
Los Angeles, CA 21,447 -4.3% -20.1%
Louisville, KY 4,479 0.6% -5.5%
McAllen, TX 2,222 0.6% -5.7%
Memphis, TN 4,022 -0.7% -6.3%
Miami, FL 20,682 -2.5% -9.5%
Milwaukee, WI 6,382 -1.4% -5.3%
Minneapolis, MN 15,319 -0.7% -7.0%
Montgomery County, PA 7,783 -1.4% -12.4%
Nashville, TN 14,265 -0.8% -4.8%
Nassau County, NY 13,536 -1.8% -8.6%
New Brunswick, NJ 15,159 -0.5% -11.2%
New Haven, CT 4,297 -3.1% -10.1%
New Orleans, LA 5,665 0.9% -0.2%
New York, NY 39,260 1.5% -12.4%
Newark, NJ 10,669 -0.4% -6.5%
North Port, FL 8,563 -1.1% -14.0%
Oakland, CA 5,039 -3.1% -23.3%
Oklahoma City, OK 6,902 1.3% -5.6%
Omaha, NE 2,878 -0.1% -8.2%
Orlando, FL 13,470 -1.8% -12.5%
Oxnard, CA 2,695 -3.3% -6.3%
Philadelphia, PA 9,027 -1.5% -2.2%
Phoenix, AZ 22,708 -3.8% -23.4%
Pittsburgh, PA 10,716 -0.4% -2.7%
Portland, OR 9,128 -1.9% -16.4%
Providence, RI 7,318 0.3% -10.2%
Raleigh, NC 8,819 -0.3% -6.6%
Richmond, VA 4,797 1.2% -7.1%
Riverside, CA 19,205 -3.0% -16.3%
Rochester, NY 2,764 -2.6% -12.6%
Sacramento, CA 7,403 0.3% -17.9%
Salt Lake City, UT 2,897 -11.4% -49.5%
San Antonio, TX 12,382 -2.7% -1.5%
San Diego, CA 8,576 -3.3% -24.0%
San Francisco, CA 2,447 -2.2% -10.9%
San Jose, CA 2,983 -2.8% -23.5%
Seattle, WA 9,364 -1.4% -18.0%
St. Louis, MO 11,204 -3.1% -23.9%
Tacoma, WA 2,774 -1.5% -24.4%
Tampa, FL 17,866 -2.2% -15.5%
Tucson, AZ 5,237 -1.7% -13.4%
Tulsa, OK 3,046 -11.4% -41.6%
Honolulu, HI 4,200 -3.8% -9.2%
Virginia Beach, VA 8,128 -1.8% -14.5%
Warren, MI 12,175 -0.7% -2.1%
Washington, D.C. 18,704 0.1% -8.5%
West Palm Beach, FL 16,029 -1.8% -10.8%
Worcester, MA 3,409 -3.6% -10.7%
National 1,061,700 -1.6% -11.4%

Median Off-Market Redfin Estimate

Redfin Metro Estimate Month-Over-Month Year-Over-Year
Albany, NY $194,700 -0.2% -9.1%
Allentown, PA $208,400 0.1% -0.1%
Atlanta, GA $228,000 0.5% 4.3%
Austin, TX $294,800 0.2% -1.7%
Bakersfield, CA $189,500 0.0% -12.2%
Baltimore, MD $265,900 -0.1% 5.0%
Baton Rouge, LA $127,100 0.3% -16.2%
Birmingham, AL $131,300 0.5% -11.5%
Boston, MA $515,700 0.0% 6.1%
Bridgeport, CT $388,300 -0.1% -36.4%
Buffalo, NY $147,400 -0.1% -5.5%
Camden, NJ $202,400 0.2% 5.2%
Charlotte, NC $201,500 0.4% -2.0%
Chicago, IL $258,900 -0.2% 7.0%
Cincinnati, OH $161,700 0.2% -3.6%
Cleveland, OH $138,000 -0.2% -0.1%
Columbus, OH $193,200 0.1% 2.3%
Dallas, TX $255,600 0.2% -0.3%
Dayton, OH $121,900 0.0% 4.6%
Denver, CO $408,300 0.8% -0.4%
Detroit, MI $102,100 0.0% -3.5%
Fort Lauderdale, FL $267,200 0.4% 1.1%
Fort Worth, TX $217,000 0.3% 1.8%
Fresno, CA $255,800 0.3% 0.9%
Grand Rapids, MI $166,900 0.4% 4.5%
Greenville, SC $156,400 0.5% -7.7%
Hartford, CT $221,400 0.0% -23.2%
Houston, TX $197,000 0.9% -5.3%
Indianapolis, IN $161,400 0.5% 0.8%
Jacksonville, FL $207,500 0.6% -4.4%
Kansas City, MO $180,800 0.9% -2.7%
Knoxville, TN $174,400 0.2% 15.9%
Las Vegas, NV $280,800 0.2% 2.8%
Los Angeles, CA $635,300 0.2% 1.0%
Louisville, KY $173,500 0.2% 15.0%
Memphis, TN $142,800 0.4% 5.2%
Miami, FL $309,400 -1.0% 4.3%
Milwaukee, WI $194,100 -0.4% -6.7%
Minneapolis, MN $269,000 0.0% 4.1%
Montgomery County, PA $320,500 0.1% 1.4%
Nashville, TN $271,400 0.7% 9.3%
New Haven, CT $219,700 0.0% -13.8%
New Orleans, LA $167,200 -0.3% -1.6%
Newark, NJ $361,900 0.2% -2.7%
Oakland, CA $761,000 0.0% 0.1%
Oklahoma City, OK $142,500 0.0% 0.8%
Omaha, NE $186,800 0.2% 10.5%
Orlando, FL $231,500 0.6% -0.1%
Oxnard, CA $594,500 0.4% -0.9%
Philadelphia, PA $186,600 0.4% -6.2%
Phoenix, AZ $266,400 0.7% -0.6%
Pittsburgh, PA $131,300 0.1% -9.1%
Portland, OR $393,000 -0.1% 0.6%
Providence, RI $288,500 0.3% -2.0%
Raleigh, NC $252,100 0.2% -3.0%
Richmond, VA $232,100 0.1% 4.3%
Riverside, CA $325,100 0.1% -10.8%
Rochester, NY $142,100 -0.3% -1.1%
Sacramento, CA $406,600 0.1% 1.6%
Salt Lake City, UT $347,100 0.4% 6.8%
San Antonio, TX $182,100 0.2% -5.3%
San Diego, CA $592,800 0.3% 0.4%
San Francisco, CA $1,341,500 -0.8% 1.0%
San Jose, CA $1,116,100 0.0% -7.7%
Seattle, WA $544,600 0.2% -2.2%
St. Louis, MO $155,700 0.2% 0.1%
Tacoma, WA $353,000 1.1% 2.5%
Tampa, FL $215,300 0.2% -1.6%
Tucson, AZ $198,800 0.5% -4.3%
Tulsa, OK $128,000 -0.4% -7.9%
Warren, MI $208,000 0.0% -1.4%
Washington, D.C. $395,500 0.0% 2.2%
West Palm Beach, FL $273,000 0.5% 2.9%
Worcester, MA $274,200 -0.2% -3.3%
National $297,100 4.7% 3.0%

The post Home Prices Rose 7% in January, Housing Supply Fell 11% appeared first on Redfin Blog.

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