Prices continue to accelerate at record paces in a few select markets, and investors and homeowners are seeing their equity stake surge.
Realtor.com®’s research team analyzed 300 of the nation’s largest metros between September 2014 and September 2017 to find which markets have seen the largest increases in median list prices over that period. Researchers looked at the percentage change—not total dollar uptick—over one-, three-, and five-year periods.
“Price growth continues to spread into the last remaining affordable pockets in the country,” says Javier Vivas, director of economic research for realtor.com®. “Strong double-digit appreciation is more common in less expensive markets, so it’s not surprising that half of these markets are in the Midwest.”
The following markets have seen the highest home appreciation, according to realtor.com®:
1. Omaha, Neb.
- Median home list price: $259,400
- 1-year percentage change: 20.7%
- 3-year percentage change: 62.1%
- 5-year percentage change: 73.5%
2. Santa Maria, Calif.
- Median home list price: $1,363,000
- 1-year percentage change: 20.9%
- 3-year percentage change: 59.6%
- 5-year percentage change: 95%
3. Charlotte, N.C.
- Median home list price: $327,600
- 1-year percentage change: 10.7%
- 3-year percentage change: 59.4%
- 5-year percentage change: 82.9%
4. Grand Rapids, Mich.
- Median home list price: $249,900
- 1-year percentage change: 8.7%
- 3-year percentage change: 56.4%
- 5-year percentage change: 72.5%
5. College Station, Texas
- Median home list price: $314,900
- 1-year percentage change: 2.4%
- 3-year percentage change: 55.5%
- 5-year percentage change: 85.3%
6. Lexington, Ky.
- Median home list price: $269,900
- 1-year percentage change: 14.9%
- 3-year percentage change: 53.1%
- 5-year percentage change: 61.7%
7. New Orleans, La.
- Median home list price: $274,500
- 1-year percentage change: 9.8%
- 3-year percentage change: 52.5%
- 5-year percentage change: 62.4%
View the full list at realtor.com®.
Source: “Liftoff! 10 Surprising U.S. Cities Where Home Values Are Skyrocketing,” realtor.com® (Nov. 6, 2017)
