Real Estate

Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent

Home prices in August surged 7.7 percent, the largest year-over-year price gain since May 2015. The national median sale price was $293,000, flat from July. None of the metro areas Redfin tracks saw prices decline in August. The median value of off-market homes in August was $251,000, as measured by the Redfin Estimate, up 0.7 percent from July.

Sales in August fell 5.5 percent compared to last year, the largest decline posted since July 2016. This follows the 5 percent decline posted in July by the Redfin Housing Demand Index.

The number of homes for sale plunged 12.4 percent, the largest year-over-year decline in a 23-month streak of declining inventory. The number of new listings in August was down 1 percent from a year ago, leaving just 2.8 months of supply. Less than six months of supply signals the market is tilted in favor of sellers.

In the San Jose, Calif. metro area, inventory plummeted 50 percent in August compared to a year ago, leaving less than a one-month supply, the lowest of all markets Redfin tracks.

Nearly a quarter (24.9%) of homes sold above their list price. The average sale-to-list ratio was 98.5 percent. The typical home that sold in August went under contract in 39 days, two days longer than July’s record-setting pace, typical of a seasonal slowdown.

“The real estate market still favors sellers, with strong demand and rising prices, but perhaps less so now than earlier in the year,” said Redfin CEO Glenn Kelman. “Newly listed homes are selling faster in 2017 than in 2016, but whereas in April the market was nine days faster than the 2016 market, in August it was five; the gap between 2016 and 2017 is narrowing slightly. Normally such differences wouldn’t be worth mentioning, but Redfin managers of coastal markets where demand has been strongest are now reporting that some buyers are stepping back from higher prices.”

Forty-three percent of homes listed for sale in July were priced higher than their concurrent Redfin Estimate, a measure of a home’s value and prediction of its eventual sale price, compared to 46 percent in July. The median list price-to-Redfin Estimate ratio was 100.2 percent, which means the typical home for sale last month was priced in line with its estimated value.

Market Summary August 2017 Month-Over-Month Year-Over-Year
Median sale price $292,900 0.0% 7.7%
Homes sold 268,800 2.3% -5.5%
New listings 302,400 -2.2% -1.0%
All Homes for sale 749,100 -4.4% -12.4%
Median days on market 39 2 -5
Months of supply 2.8 -0.2 -0.2
Sold above list 24.9% -1.7% 1.3%
Median Off-Market Redfin Estimate $250,600 0.7%
Average Sale-to-list 98.5% -0.1% 0.4%

Harvey Hits the Houston Housing Market, But Inventory Still High by Comparison

Hurricane Harvey slammed Houston in the last week of August, when many of the month’s pending home sales were scheduled to close. While most real estate activity halted for a few days immediately following the storm, Redfin agents reported rebounding buyer interest, tours and offers in the final days of the month.

Houston sales fell 29 percent year over year, as buyers backed out of purchasing homes due to flood damage. Lenders also required homes to be reinspected before allowing homes closings to move forward, causing some home settlements to be delayed. Flood damage is limiting the number of homes being listed for sale. New listings declined 12.2 percent compared to last August. Despite the decline in new listings, inventory was still up 5.7 percent compared to last year.

Prices grew 4 percent from last August and Redfin chief economist Nela Richardson predicts homes prices will rise at a faster pace due to the storm.

“Houston has been one of the few big-growth cities gaining inventory this year, but the flooding abruptly wiped out a sizable chunk of the housing stock” said Richardson. “As seen from other weather events, the lack of supply will cause both rents and home prices to rise in the near term.”

“Looking ahead to Irma’s impact in the Southeast, we are just now starting to gather information as power is being restored to parts of the region. Based on Redfin home tour request data, we know that touring has all but halted in Florida in the past week,” said Richardson.

Other August Highlights

Competition

  • Seattle, WA was the fastest market, with nearly half of all homes pending sale in just 8 days, down from 10 days from a year earlier. Portland, OR and Denver, CO were the next fastest markets with 11 and 12 median days on market, followed by Boston, MA (13) and Tacoma, WA (13).
  • The most competitive market in August was San Jose, CA where 73.8% of homes sold above list price, followed by 72.3% in San Francisco, CA, 67.3% in Oakland, CA, 51.3% in Seattle, WA, and 48.1% in Tacoma, WA.

Prices

  • Seattle, WA had the nation’s highest price growth, rising 16% since last year to $522,000. Fort Lauderdale, FL had the second highest growth at 15.6% year-over-year price growth, followed by Cincinnati, OH (14.5%), Las Vegas, NV (14%), and San Jose, CA (13.4%).
  • No metros saw a price decline in August.
  • Detroit, MI had the highest month-over-month increase in the value of off-market homes up 3%, as measured by the Redfin Estimate, this mirrored price growth for on-market homes, up 5.3% year over year.

Sales

  • Columbia, SC saw the largest decline in sales since last year, falling 93.2%. Home sales in Newark, NJ and Houston, TX declined by 75.3% and 29.1%, respectively.
  • 4 out of 75 metros saw sales surge by double digits from last year. Camden, NJ led the nation in year-over-year sales growth, up 22%, followed by Baton Rouge, LA, up 21%. Baltimore, MD rounded out the top three with sales up 19% from a year ago.

Inventory

  • San Jose, CA had the largest decrease in overall inventory, falling 49.9% since last August. Oakland, CA (-31.8%), San Francisco, CA (-30.9%), and Tampa, FL (-26.8%) also saw far fewer homes available on the market than a year ago.
  • Austin, TX had the highest increase in the number of homes for sale, up 13.9% year over year, followed by New Orleans, LA (8.3%) and Houston, TX (5.7%).

Redfin Estimate

  • The median list price-to-Redfin Estimate ratio was 94.1% in San Francisco, the lowest of any market. This indicates the typical home for sale in August was listed at a price 5.9% below its estimated value. Only 8.9% of homes in San Francisco were listed for more than their Redfin Estimate.
  • Conversely, the median list price-to-Redfin Estimate ratio was 103% in Miami, FL and 102.6% in West Palm Beach, which means sellers are listing their homes for more than the estimated value in those metro areas. In Miami, 64.6% of homes were listed above their Redfin Estimate.

Below are market-by-market breakdowns for prices, inventory, new listings and sales for markets with populations of 750 thousand 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 $213,500 1.7% 4.1%
Allentown, PA $200,000 5.9% 0.1%
Atlanta, GA $218,000 -3.1% 4.8%
Austin, TX $296,000 -0.9% 3.1%
Bakersfield, CA $220,000 -3.5% 6.8%
Baltimore, MD $265,000 -4.8% 1.0%
Baton Rouge, LA $199,000 -0.5% 3.6%
Birmingham, AL $189,200 -3.0% 7.2%
Boston, MA $463,000 -1.5% 6.2%
Buffalo, NY $150,000 1.1% 10.0%
Camden, NJ $185,000 2.5% 0.5%
Charlotte, NC $230,000 -3.0% 4.5%
Chicago, IL $238,000 -4.0% 2.6%
Cincinnati, OH $177,500 -0.3% 14.5%
Cleveland, OH $146,000 0.6% 6.6%
Columbia, SC $152,000 25.6% 0.0%
Columbus, OH $191,000 -4.5% 5.5%
Dallas, TX $280,000 -1.8% 8.3%
Denver, CO $375,000 -1.3% 8.4%
Detroit, MI $129,900 -0.1% 5.3%
Fort Lauderdale, FL $260,000 4.0% 15.6%
Fort Worth, TX $225,000 0.0% 12.5%
Fresno, CA $255,000 0.6% 8.2%
Grand Rapids, MI $183,000 -2.0% 8.9%
Greenville, SC $194,600 -2.2% 8.6%
Hampton Roads, VA $224,900 -1.4% 0.0%
Honolulu, HI $565,000 -1.7% 5.6%
Houston, TX $234,000 1.7% 4.0%
Indianapolis, IN $162,000 -3.3% 5.9%
Jacksonville, FL $208,000 -6.3% 5.3%
Kansas City, MO $199,000 -0.5% 4.8%
Knoxville, TN $184,000 -0.5% 7.0%
Las Vegas, NV $245,000 0.0% 14.0%
Long Island, NY $438,000 -1.0% 5.7%
Los Angeles, CA $589,900 0.0% 8.2%
Louisville, KY $179,000 -3.0% 2.3%
Memphis, TN $169,900 0.1% 6.9%
Miami, FL $280,000 1.8% 7.7%
Milwaukee, WI $212,000 0.5% 8.7%
Minneapolis, MN $252,000 0.4% 5.0%
Montgomery County, PA $309,000 -0.7% 4.7%
Nashville, TN $274,600 1.0% 13.3%
New Orleans, LA $200,000 -9.1% 5.6%
Newark, NJ $389,200 8.4% 0.1%
Oakland, CA $698,100 0.5% 13.1%
Oklahoma City, OK $165,000 -0.5% 3.1%
Omaha, NE $185,000 0.8% 2.8%
Orange County, CA $665,000 -2.1% 4.2%
Orlando, FL $226,800 0.8% 8.5%
Oxnard, CA $580,000 0.9% 5.5%
Philadelphia, PA $189,900 -5.0% 6.7%
Phoenix, AZ $245,000 0.0% 6.5%
Pittsburgh, PA $165,000 1.9% 7.0%
Portland, OR $376,000 -1.1% 8.5%
Providence, RI $256,000 -3.4% 6.3%
Raleigh, NC $265,000 -0.2% 8.6%
Richmond, VA $242,000 0.0% 6.6%
Riverside, CA $340,000 -2.0% 6.2%
Rochester, NY $145,000 3.6% 8.2%
Sacramento, CA $377,000 0.5% 7.7%
Salt Lake City, UT $287,500 -0.8% 8.5%
San Antonio, TX $215,000 2.4% 4.9%
San Diego, CA $550,000 1.5% 10.0%
San Francisco, CA $1,250,000 -1.9% 10.0%
San Jose, CA $975,000 -0.1% 13.4%
Seattle, WA $522,000 -1.4% 16.0%
St. Louis, MO $174,600 -3.5% 4.0%
Tacoma, WA $310,000 -1.6% 8.8%
Tampa, FL $214,000 -0.5% 9.7%
Tucson, AZ $195,500 0.3% 4.5%
Tulsa, OK $159,900 -4.2% 2.5%
Warren, MI $194,900 -2.5% 3.1%
Washington, DC $390,000 0.0% 1.3%
West Palm Beach, FL $263,000 0.4% 6.2%
Worcester, MA $269,900 2.8% 9.3%
National $292,900 0.0% 7.7%

Homes Sold

Redfin Metro Homes Sold Month-Over-Month Year-Over-Year
Albany, NY 995 8.3% -10.4%
Allentown, PA 841 5.7% -12.2%
Atlanta, GA 9,809 -3.7% -11.8%
Austin, TX 3,012 -4.3% -4.2%
Bakersfield, CA 773 0.9% -4.1%
Baltimore, MD 4,927 23.0% 18.8%
Baton Rouge, LA 966 -3.3% 21.2%
Birmingham, AL 1,385 -1.1% -13.7%
Boston, MA 5,657 5.1% -6.1%
Buffalo, NY 1,067 3.1% -22.9%
Camden, NJ 1,904 2.9% 22.5%
Charlotte, NC 3,849 0.5% -1.3%
Chicago, IL 11,055 2.1% -15.3%
Cincinnati, OH 2,437 7.2% -4.6%
Cleveland, OH 2,859 6.8% 3.4%
Columbia, SC 55 -45.5% -93.2%
Columbus, OH 3,116 2.9% 0.4%
Dallas, TX 5,978 2.7% -4.5%
Denver, CO 5,273 1.4% -5.3%
Detroit, MI 1,997 3.9% -10.9%
Fort Lauderdale, FL 3,118 10.4% -10.6%
Fort Worth, TX 3,198 -0.2% -7.3%
Fresno, CA 932 9.6% 4.7%
Grand Rapids, MI 1,561 -0.3% -6.8%
Greenville, SC 1,161 -0.7% 0.8%
Hampton Roads, VA 2,228 6.8% -2.4%
Honolulu, HI 935 15.9% 13.1%
Houston, TX 5,865 -22.2% -29.1%
Indianapolis, IN 3,179 0.0% -0.6%
Jacksonville, FL 2,238 -4.9% -10.9%
Kansas City, MO 3,304 0.6% -4.1%
Knoxville, TN 1,319 2.6% 2.7%
Las Vegas, NV 3,955 5.8% 3.0%
Long Island, NY 3,245 4.9% 4.3%
Los Angeles, CA 7,451 16.3% 4.4%
Louisville, KY 1,617 10.1% 4.9%
Memphis, TN 1,292 -0.9% -1.6%
Miami, FL 2,669 5.1% -10.0%
Milwaukee, WI 1,982 1.2% -13.6%
Minneapolis, MN 6,439 0.7% -8.9%
Montgomery County, PA 2,717 1.4% -6.0%
Nashville, TN 3,549 -2.2% -6.5%
New Orleans, LA 1,241 -3.1% -4.2%
Newark, NJ 598 -3.2% -75.3%
Oakland, CA 2,695 7.1% -2.6%
Oklahoma City, OK 1,807 -3.5% -9.2%
Omaha, NE 1,305 -2.0% -9.2%
Orange County, CA 3,109 12.5% 0.1%
Orlando, FL 4,101 4.4% -3.0%
Oxnard, CA 822 2.6% -4.5%
Philadelphia, PA 2,268 -1.3% -8.4%
Phoenix, AZ 8,036 3.0% 2.4%
Pittsburgh, PA 2,294 5.5% -3.1%
Portland, OR 3,682 2.6% -9.2%
Providence, RI 2,043 4.4% -0.6%
Raleigh, NC 2,570 11.1% 4.4%
Richmond, VA 1,787 3.9% -3.2%
Riverside, CA 5,566 10.3% 3.2%
Rochester, NY 1,228 5.0% -13.6%
Sacramento, CA 3,099 6.4% -6.9%
Salt Lake City, UT 1,755 2.1% -10.5%
San Antonio, TX 2,579 -3.9% -8.8%
San Diego, CA 3,441 3.9% -5.1%
San Francisco, CA 964 -1.0% -7.3%
San Jose, CA 1,543 2.2% 5.4%
Seattle, WA 5,226 6.8% -0.6%
St. Louis, MO 4,018 -1.1% -4.5%
Tacoma, WA 1,704 5.6% 8.6%
Tampa, FL 5,540 0.5% -2.9%
Tucson, AZ 1,331 -5.1% -4.7%
Tulsa, OK 1,017 1.5% -23.8%
Warren, MI 4,206 7.4% -10.6%
Washington, DC 9,031 -8.5% 5.2%
West Palm Beach, FL 2,732 -2.3% -10.2%
Worcester, MA 1,121 4.9% -5.6%
National 268,800 2.3% -5.5%

New Listings

Redfin Metro New Listings Month-Over-Month Year-Over-Year
Albany, NY 1,143 1.3% -3.5%
Albuquerque, NM 1,441 -0.8% 5.9%
Allentown, PA 1,031 -2.7% -4.1%
Atlanta, GA 10,144 -1.9% 3.4%
Austin, TX 3,332 -13.3% 7.8%
Bakersfield, CA 1,030 1.7% -1.9%
Baltimore, MD 4,133 -8.0% -1.8%
Baton Rouge, LA 1,147 -9.0% 16.2%
Birmingham, AL 1,547 0.7% -0.3%
Boston, MA 4,833 -3.5% 1.2%
Buffalo, NY 1,420 -0.7% 11.3%
Camden, NJ 2,197 3.4% 7.4%
Charlotte, NC 4,183 -1.2% 6.1%
Chicago, IL 12,215 -3.6% -4.0%
Cincinnati, OH 2,633 0.7% -0.5%
Cleveland, OH 3,184 -0.5% 4.7%
Columbia, SC 1,199 -4.3% -5.1%
Columbus, OH 3,366 -2.4% 12.5%
Dallas, TX 6,755 -7.7% 4.3%
Denver, CO 5,601 -2.5% -7.5%
Detroit, MI 2,680 0.6% 2.4%
Fort Lauderdale, FL 3,915 6.2% -4.7%
Fort Worth, TX 3,567 -8.3% -1.6%
Fresno, CA 1,029 2.4% 9.2%
Grand Rapids, MI 1,906 8.8% 3.3%
Greenville, SC 1,273 1.5% 1.8%
Hampton Roads, VA 2,539 1.1% -0.4%
Honolulu, HI 1,055 0.2% 6.8%
Houston, TX 8,020 -23.8% -12.2%
Indianapolis, IN 3,428 -1.1% 3.8%
Jacksonville, FL 2,854 9.3% 7.0%
Kansas City, MO 3,533 -4.4% 3.9%
Knoxville, TN 1,439 -0.6% 8.5%
Las Vegas, NV 4,201 1.7% -1.8%
Long Island, NY 3,033 -12.0% 2.3%
Los Angeles, CA 8,032 -3.7% -14.2%
Louisville, KY 1,632 -7.3% 1.2%
Memphis, TN 1,488 7.3% 4.3%
Miami, FL 4,232 5.3% 0.9%
Milwaukee, WI 2,109 0.2% -5.6%
Minneapolis, MN 6,249 -2.3% -1.8%
Montgomery County, PA 2,511 -1.0% 5.7%
Nashville, TN 4,076 1.3% -1.5%
New Orleans, LA 1,464 -10.2% -5.2%
Newark, NJ 2,747 -2.6% 9.1%
Oakland, CA 2,766 -6.2% -4.9%
Oklahoma City, OK 2,147 -4.6% -4.2%
Omaha, NE 1,305 -1.8% -3.0%
Orange County, CA 3,180 -3.8% -14.5%
Orlando, FL 4,479 1.4% 0.6%
Oxnard, CA 936 3.7% -0.5%
Philadelphia, PA 2,648 1.6% 2.0%
Phoenix, AZ 8,726 9.4% 4.0%
Pittsburgh, PA 2,755 0.5% 1.5%
Portland, OR 3,915 -4.4% -10.2%
Providence, RI 2,370 5.9% -0.8%
Raleigh, NC 2,425 -5.5% -3.8%
Richmond, VA 1,816 -0.9% 1.5%
Riverside, CA 6,062 -2.6% -16.9%
Rochester, NY 1,324 -0.4% 8.4%
Sacramento, CA 3,777 1.5% 1.8%
Salt Lake City, UT 2,300 11.6% 1.8%
San Antonio, TX 3,122 -8.4% 2.5%
San Diego, CA 3,743 -2.4% -6.2%
San Francisco, CA 972 -3.1% -2.1%
San Jose, CA 1,422 -2.4% -8.6%
Seattle, WA 5,337 -5.3% 0.6%
St. Louis, MO 4,427 -4.9% -0.6%
Tacoma, WA 1,786 -10.4% -4.8%
Tampa, FL 5,986 1.2% 0.3%
Tucson, AZ 1,560 8.0% 5.5%
Tulsa, OK 1,317 -4.8% -10.8%
Warren, MI 5,079 -0.2% 3.8%
Washington, DC 8,587 -5.0% 4.7%
West Palm Beach, FL 3,608 6.3% 0.0%
Worcester, MA 1,200 6.1% 3.7%
National 302,400 -2.2% -1.0%

All Homes for Sale

Redfin Metro All Homes for Sale Month-Over-Month Year-Over-Year
Albany, NY 3,176 -1.4% -23.0%
Albuquerque, NM 3,616 -29.0% -13.8%
Allentown, PA 2,811 -13.9% -24.5%
Atlanta, GA 30,461 6.0% -12.0%
Austin, TX 8,278 -4.9% 13.9%
Bakersfield, CA 2,157 -3.0% -16.7%
Baltimore, MD 10,516 -5.7% -18.8%
Baton Rouge, LA 3,221 -10.0% 2.0%
Birmingham, AL 5,503 -5.0% -12.9%
Boston, MA 7,596 -9.1% -21.3%
Buffalo, NY 2,402 -8.1% -26.3%
Camden, NJ 7,650 -1.5% -8.3%
Charlotte, NC 12,846 -0.8% -5.2%
Chicago, IL 40,714 -4.2% -12.6%
Cincinnati, OH 8,099 -1.8% -14.1%
Cleveland, OH 9,124 -3.0% -14.6%
Columbia, SC 3,610 -6.5% -15.9%
Columbus, OH 7,297 -1.2% -7.8%
Dallas, TX 13,696 -7.3% 4.9%
Denver, CO 7,205 -4.1% -11.3%
Detroit, MI 4,627 -2.0% -18.6%
Fort Lauderdale, FL 12,523 -8.4% -11.1%
Fort Worth, TX 6,340 -9.2% -10.0%
Fresno, CA 1,585 -6.3% -17.1%
Grand Rapids, MI 2,847 3.6% -12.0%
Greenville, SC 3,949 -3.1% -10.2%
Hampton Roads, VA 7,981 -4.7% -9.2%
Honolulu, HI 3,079 -6.4% -3.7%
Houston, TX 27,242 -6.4% 5.7%
Indianapolis, IN 7,498 -2.4% -17.9%
Jacksonville, FL 6,559 -3.5% -16.8%
Knoxville, TN 4,719 -4.5% -14.2%
Las Vegas, NV 10,037 -4.0% -26.8%
Long Island, NY 10,749 -5.9% -17.5%
Los Angeles, CA 15,976 -8.3% -17.8%
Louisville, KY 3,280 -3.7% -11.8%
Memphis, TN 3,259 -3.4% -21.3%
Miami, FL 17,100 -3.1% -7.6%
Milwaukee, WI 6,350 -3.6% -13.8%
Minneapolis, MN 12,336 -3.7% -14.5%
Montgomery County, PA 7,373 -0.8% -13.6%
Nashville, TN 9,643 -1.8% 4.4%
New Orleans, LA 6,075 2.9% 8.3%
Newark, NJ 10,199 -5.6% -10.8%
Oakland, CA 2,698 -13.6% -31.8%
Oklahoma City, OK 6,152 -4.0% -5.2%
Omaha, NE 2,022 0.0% -16.1%
Orange County, CA 7,336 -7.4% -21.2%
Orlando, FL 9,769 -7.8% -20.4%
Oxnard, CA 1,614 -7.2% -19.6%
Philadelphia, PA 7,556 0.1% -10.1%
Phoenix, AZ 18,741 -4.2% -14.2%
Pittsburgh, PA 10,340 -1.2% -8.8%
Portland, OR 6,264 -3.1% -6.1%
Providence, RI 5,800 -0.6% -18.8%
Raleigh, NC 6,262 -16.4% -11.0%
Richmond, VA 3,598 -4.2% -14.0%
Riverside, CA 14,320 -6.7% -19.9%
Rochester, NY 2,500 -4.5% -25.9%
Sacramento, CA 5,519 -3.1% -18.5%
Salt Lake City, UT 3,555 -15.3% -10.5%
San Antonio, TX 8,195 -5.6% -3.7%
San Diego, CA 5,690 -6.7% -24.6%
San Francisco, CA 1,136 -13.1% -30.9%
San Jose, CA 1,261 -19.3% -49.9%
Seattle, WA 5,092 -4.9% -23.9%
St. Louis, MO 12,747 -7.4% -10.5%
Tacoma, WA 2,549 -5.1% -22.0%
Tampa, FL 11,877 -8.6% -26.8%
Tucson, AZ 4,455 -1.7% -8.3%
Tulsa, OK 4,119 -12.6% -4.0%
Warren, MI 8,713 0.2% -18.7%
Washington, DC 17,721 -6.1% -12.5%
West Palm Beach, FL 13,038 -3.3% -4.3%
Worcester, MA 2,158 -2.0% -24.0%
National 749,100 -4.4% -12.4%

Median Off-Market Redfin Estimate

Redfin Metro Estimate Month-Over-Month
Albany, NY $204,600 1.0%
Allentown, PA $194,400 0.4%
Atlanta, GA $188,900 0.5%
Austin, TX $288,100 -0.3%
Bakersfield, CA $198,400 0.4%
Baltimore, MD $243,800 0.4%
Baton Rouge, LA $152,300 0.7%
Birmingham, AL $138,200 0.8%
Boston, MA $455,700 0.6%
Buffalo, NY $145,200 1.4%
Camden, NJ $185,900 0.6%
Charlotte, NC $174,000 1.3%
Chicago, IL $231,000 0.6%
Cincinnati, OH $152,700 0.6%
Cleveland, OH $129,600 0.7%
Columbia, SC $104,500 -5.7%
Columbus, OH $167,700 0.9%
Dallas, TX $233,800 0.7%
Denver, CO $373,800 0.5%
Detroit, MI $80,700 3.0%
Fort Lauderdale, FL $237,600 0.7%
Fort Worth, TX $189,700 0.8%
Fresno, CA $231,800 1.3%
Grand Rapids, MI $145,400 0.1%
Greenville, SC $151,600 0.8%
Hampton Roads, VA $212,700 0.3%
Honolulu, HI $662,600 0.2%
Houston, TX $191,700 0.4%
Indianapolis, IN $144,400 1.0%
Jacksonville, FL $193,000 1.8%
Kansas City, MO $170,600 1.3%
Knoxville, TN $135,600 0.8%
Las Vegas, NV $228,800 1.6%
Long Island, NY $410,200 1.1%
Los Angeles, CA $574,100 0.8%
Louisville, KY $154,300 0.6%
Memphis, TN $122,900 1.5%
Miami, FL $271,500 0.5%
Milwaukee, WI $189,100 0.6%
Minneapolis, MN $240,200 0.6%
Montgomery County, PA $304,300 0.5%
Nashville, TN $219,000 1.1%
New Orleans, LA $175,200 0.6%
Newark, NJ $317,100 -0.3%
Oakland, CA $701,800 0.6%
Oklahoma City, OK $135,200 -0.8%
Omaha, NE $156,800 0.2%
Orange County, CA $670,000 0.7%
Orlando, FL $207,700 0.8%
Oxnard, CA $571,000 0.7%
Philadelphia, PA $182,100 0.2%
Phoenix, AZ $244,200 0.6%
Pittsburgh, PA $134,900 0.2%
Portland, OR $369,200 -1.1%
Providence, RI $275,000 1.2%
Raleigh, NC $242,500 0.5%
Richmond, VA $205,800 0.5%
Riverside, CA $332,100 0.8%
Rochester, NY $135,400 0.8%
Sacramento, CA $375,400 0.5%
Salt Lake City, UT $292,300 0.9%
San Antonio, TX $175,200 0.6%
San Diego, CA $551,500 0.6%
San Francisco, CA $1,200,400 0.2%
San Jose, CA $1,037,700 1.4%
Seattle, WA $503,500 1.1%
St. Louis, MO $146,400 1.2%
Tacoma, WA $304,000 1.0%
Tampa, FL $195,100 0.7%
Tucson, AZ $189,000 0.7%
Tulsa, OK $133,500 -0.7%
Warren, MI $194,900 1.0%
Washington, DC $371,300 0.3%
West Palm Beach, FL $245,600 0.3%
Worcester, MA $262,600 0.9%
National $250,600 0.7%

The post Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent appeared first on Redfin Real-Time.

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