Nearly every metro area tracked by the National Association of Realtors recorded year-over-year price increases in the first quarter of 2021, according to the latest quarterly report released by NAR. Additionally, 89 percent of metro areas had double-digit price gains.
The 11 metro areas with the highest price increases saw median sales prices ranging from the $100K-$600K. Those cities include: Kingston, N.Y. (35.5 percent; $303,100); Bridgeport-Stamford-Norwalk, Conn. (34.3 percent; $580,400); Atlantic City-Hammonton, N.J. (34.0 percent; $277,200); Barnstable Town, Mass. (33.1 percent; $567,600); Boise City-Nampa, Idaho (32.8 percent; $422,600); Sherman-Denison, Texas (29.8 percent; $234,800); Elmira, N.Y. (29.1 percent; $126,900); Austin-Round Rock, Texas (28.2 percent; $437,900); Youngstown-Warren-Boardman, Ohio-Pa. (27.7 percent; $119,500); Decatur, Ill. (27.5 percent; $102,400); and Glens Falls, N.Y. (27.5 percent; $214,600).
The most expensive markets also continued to experience double-digit price growth. Those metros include San Jose-Sunnyvale-Santa Clara, Calif. ($1.5 million; 11.1 percent); San Francisco-Oakland-Hayward, Calif. ($1.2 million; 21.8 percent); Anaheim-Santa Ana-Irvine, Calif. ($1.0 million; 14.3 percent); Urban Honolulu, Hawaii ($940,400; 19.2 percent); San Diego-Carlsbad, Calif. ($763,500; 14.0 percent); Boulder, Colo.($726,600; 16.7 percent); Los Angeles-Long Beach-Glendale, Calif. ($682,400; 15.1 percent); Seattle-Tacoma-Bellevue, Wash. ($653,400; 17.9 percent); Naples-Immokalee-Marco Island, Fla. ($599,500; 24.9 percent); and Nassau County-Suffolk County, N.Y. ($598,600; 22.7 percent).
Nationally, the median existing-home sales price rose 16.2 percent on a year-over-year basis to $319,200, a record high since 1989.