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HomeSubject AreaAppraisal & Valuation11 Metros Break $500K Median Dwelling Value

11 Metros Break $500K Median Dwelling Value


A picture of a residential block with a row of houses along the street extending out of frame.

© RoschetzkyIstockPhoto – iStock / Getty Pictures Plus

The Austin, Texas, metro space in March turned the newest market to hitch the half-million-dollar membership, in response to a brand new evaluation by Movoto by OJO Labs, an actual property search website. In Austin, the median residence offered value was not less than $500,000, becoming a member of 10 different massive metros at that degree.

Different markets with a median sale value of $500,000 or extra embrace Boston ($560,000), Denver ($565,000), Los Angeles ($720,000), New York ($520,000), Portland, Ore. ($505,000), Sacramento, Calif. ($550,000), Salt Lake Metropolis ($503,000), San Diego ($825,000), San Francisco ($1.3 million), and Seattle ($626,000).

Many areas of the nation have seen residence costs rise by double-digit percentages over the previous 12 months. Memphis, Tenn., noticed the biggest residence value improve of any metro space, leaping 34.6% 12 months over 12 months, in response to OJO Labs’ research. Phoenix adopted with the second-highest year-over-year improve at 29.9%, reaching a $435,000 median residence offered value.

 



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