Over Half of Homes Sold Above List Price in May for the First Time On Record

Over Half of Homes Sold Above List Price in May for the First Time On Record

by and
Updated on August 3rd, 2021

Home prices were up 24%, a record high due to the dip in home prices at the start of the pandemic a year earlier.

Note: Pandemic lockdowns significantly slowed homebuying and selling, and slightly depressed sale prices in May 2020, which means the year-over-year trends for home prices, pending sales, closed sales and new listings are exaggerated. For more context, we have added extra charts that zoom in on the last three years of home sales and new listings, without seasonal adjustments.

The housing market set new records for home-selling prices, speeds and competition. However, seasonally adjusted home sales and new listings flattened from April. Leading indicators of housing market activity are also declining into June, according to the latest weekly data, signalling that the pace of the market may be slowing. The following measures all hit new records in Redfin’s data, which goes back through 2012:

  • The national median home-sale price hit a record high of $377,200, up a record 26% year over year.
  • The number of homes for sale fell to a record low, down 27% from 2020.
  • The typical home sold in just 16 days, a record low and down from 38 days in May 2020.
  • 54% of homes sold above their list price, a record high, up from 26% a year ago.
  • The average sale-to-list ratio, a measure of how close homes are selling to their asking prices, hit a record high of 102.2%. In other words, the average home sold for 2.2% above its asking price.

“May marked the likely peak of the blazing hot pandemic housing market, as many buyers and sellers are vaccinated and returning to pre-pandemic spending patterns,” said Redfin Lead Economist Taylor Marr. “Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. The affordability boost from low mortgage rates has been offset by high home price growth.”

Market Summary May 2021 Month-Over-Month Year-Over-Year
Median sale price $377,200 2.4% 26.3%
Homes sold, seasonally adjusted 615,800 -0.7% 52.2%
Pending sales, seasonally adjusted 569,400 3.4% 39.6%
New listings, seasonally adjusted 598,700 -0.4% 12.6%
All Homes for sale, seasonally adjusted 1,329,500 -6.0% -26.9%
Median days on market 16 -3 -22
Months of supply 1.1 0 -1.9
Sold above list 53.6% 4.7 pts 28.0 pts
Median Off-Market Redfin Estimate $345,300 1.4% 15.3%
Average Sale-to-list 102.2% 0.7 pts 3.7 pts
Average 30-year fixed mortgage rate 2.96% -0.10 pts -0.27 pts
† – ‘pts’ = percentage point change

Median sale prices increased from a year earlier in all of the 85 largest metro areas Redfin tracks. This is partly due to a shift in the mix of homes that are selling toward larger, higher-end properties. The smallest increase was in San Francisco, where prices were up 2.8% from a year ago. The largest price increases were in Austin, TX (+42%), Phoenix, AZ (+33%) and Detroit (+32%). To put Austin’s price increases in context, consider that the sale price of a typical 3 bedroom, 2 bathroom suburban Austin home has increased from around $330,000 in May 2020 to $470,000 in May of 2021.

In Riverside, CA, part of southern California’s Inland Empire just east of Los Angeles, home prices have risen 27% from a year ago, to a median of $503,000.

“Homes in the Inland Empire are still affordable compared to nearby coastal areas like Santa Monica, OC, or San Diego, but they’re nearly double what they used to be just a few years ago,” said Inland Empire, CA Redfin real estate agent Keith Thomas. “Locals are scratching their heads and wondering how they can afford a home as people move into Riverside County and the high desert from LA, Burbank, and other more expensive areas. Many are remote workers looking for something more affordable.”

Home Prices Up 26% in May, a Record High

Home Prices Up 26% in May, a Record High

The number of homes sold in May was up 46% from a year earlier, but was down 0.7% from April. Compared to May 2020, home sales rose in all of the 85 largest metro areas Redfin tracks. The largest gains in sales were in places that had the most abrupt slowdown of home sales in May 2020, including San Francisco (+171%), San Jose (+167%) and Warren, MI (+154%).

Home Sales Up 46% Year Over Year

Seasonally adjusted active listings—the count of all homes that were for sale at any time during the month—fell 27% year over year to their lowest level on record.

Seasonally Adjusted Homes for Sale Fell 27%

Only seven of the 85 largest metros tracked by Redfin posted a year-over-year increase in the number of seasonally adjusted active listings of homes for sale. Philadelphia (+14%), New York (+13%) and San Francisco (+12%) experienced the biggest gains, all areas that saw a more abrupt decline in listings a year ago.

The biggest year-over-year declines in active housing supply in May were in Baton Rouge, LA (-60%) and North Port, FL (-51%).

Seasonally adjusted new listings of homes for sale were up 12% in May from a year earlier, but down 14% from the same time in 2019, providing little hope for homebuyers anxious to see more homes to choose from.

New listings fell from a year ago in 18 of the 85 largest metro areas. The biggest declines were in Baton Rouge (-47%) and St. Louis, MO (43%). New listings rose the most from a year ago in New York (+77%), Nassau County (+63%) and Philadelphia (+52%).

Seasonally Adjusted New Listings Up 13% Year Over Year

Seasonally Adjusted New Listings of Homes for Sale Down 9% From 2019

Although sales slowed slightly, the housing market was once again more competitive in May than any time since Redfin began tracking national housing data in 2012.

The typical home that sold in May went under contract in 16 days—less than half as much time as a year earlier, when homes sold in a median 38 days.

Time on Market Falls to Record Low 16 Days in May

Time on Market Falls to Record Low 16 Days in May

In May, 54% of homes sold above list price, the largest share on record.

Record High 54% of Homes Sold Over List Price in May

Record High 54% of Homes Sold Over List Price in May

The average sale-to-list price ratio continued to surge in May, hitting a record high of 102.2%. This measure typically peaks in June, so the market is likely to post an additional record high this month.

Average Sale to List Price Ratio Climbed to Over 102% in May, a Record High

Average Sale-to-List Price Ratio Passed 102% in May


Other May Highlights

Competition

  • Indianapolis was the fastest market, with half of all homes pending sale in just 4 days, down from 10 days a year earlier. Denver and Elgin, IL were the next fastest markets with 5 and 5 median days on market, followed by Oklahoma City (5) and Portland, OR (5).
  • The most competitive market in May was Oakland, CA where 84.6% of homes sold above list price, followed by 80.0% in San Jose, CA, 73.9% in Sacramento, CA, 73.3% in Rochester, NY, and 73.0% in Denver.

Prices

  • Austin, TX had the nation’s highest price growth, rising 42.4% since last year to $470,000. Phoenix had the second highest growth at 33.3% year-over-year price growth, followed by Detroit (32.3%), Oakland, CA (30.1%), and Sacramento, CA (29.3%).
  • No metro areas saw price declines in May.

Sales

  • San Jose, CA led the nation in year-over-year sales growth, up 172%, followed by San Francisco, up 167%. Warren, MI rounded out the top three with sales up 154% from a year ago.
  • No metro areas saw a decline in sales from last year in May.

Inventory

  • Philadelphia had the highest increase in the number of homes for sale, up 14.4% year over year, followed by New York (13.4%) and San Francisco (12.0%).
  • Baton Rouge, LA had the largest decrease in overall active listings, falling 59.7% since last May. North Port, FL (-51.1%) and Greensboro, NC (-45.0%) also saw far fewer homes available on the market than a year ago.

Redfin Estimate

  • Miami (89.8%) had the largest share of homes predicted to sell for below list price, according to Redfin Estimate data, followed by West Palm Beach, FL (86.3%) and Fort Lauderdale, FL (84.8%).
  • Oakland, CA (93.0%) had the largest share of homes predicted to sell at or above list price, followed by San Jose, CA (91.5%) and Tacoma, WA (84.1%).

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. Refer to our metrics definition page for explanations of all the metrics used in this report.

Median Sale Price

Redfin Metro Median Sale Price Month-Over-Month Year-Over-Year
Albany, NY $254,900 2.0% 8.5%
Allentown, PA $250,000 1.6% 11.1%
Anaheim, CA $900,000 0.6% 23.3%
Atlanta, GA $325,000 4.5% 24.5%
Austin, TX $470,000 0.9% 42.4%
Bakersfield, CA $311,000 3.7% 20.1%
Baltimore, MD $340,000 4.6% 13.5%
Baton Rouge, LA $235,000 -2.5% 11.4%
Birmingham, AL $260,000 4.0% 8.8%
Boston, MA $624,900 3.5% 17.9%
Bridgeport, CT $533,500 10.0% 19.9%
Buffalo, NY $205,000 13.3% 22.3%
Camden, NJ $260,000 4.7% 23.8%
Charleston, SC $352,000 0.9% 21.4%
Charlotte, NC $330,800 2.4% 21.2%
Chicago, IL $316,000 0.6% 19.2%
Cincinnati, OH $240,000 2.1% 20.0%
Cleveland, OH $185,000 5.7% 12.1%
Columbus, OH $284,000 7.2% 18.3%
Dallas, TX $376,000 4.4% 25.4%
Dayton, OH $189,000 5.6% 20.4%
Denver, CO $532,000 1.8% 22.3%
Detroit, MI $179,000 2.3% 32.3%
El Paso, TX $195,000 2.1% 14.7%
Elgin, IL $271,000 -2.4% 12.1%
Fort Lauderdale, FL $328,000 -0.6% 15.1%
Fort Worth, TX $310,000 5.8% 24.0%
Frederick, MD $500,000 3.1% 13.6%
Fresno, CA $352,500 3.1% 21.6%
Grand Rapids, MI $270,000 0.0% 20.5%
Greensboro, NC $218,400 1.6% 16.4%
Greenville, SC $263,000 5.2% 14.6%
Hartford, CT $275,000 2.6% 17.0%
Houston, TX $300,000 2.0% 20.2%
Indianapolis, IN $250,000 6.4% 16.6%
Jacksonville, FL $293,000 1.0% 17.2%
Kansas City, MO $280,000 3.7% 16.9%
Knoxville, TN $270,000 1.9% 20.5%
Lake County, IL $300,000 -3.3% 24.0%
Las Vegas, NV $355,000 2.9% 18.4%
Los Angeles, CA $815,000 2.5% 28.3%
Louisville, KY $231,000 2.2% 6.6%
McAllen, TX $182,000 0.5% 13.7%
Memphis, TN $250,000 6.4% 16.3%
Miami, FL $409,000 0.0% 24.3%
Milwaukee, WI $270,000 5.9% 12.5%
Minneapolis, MN $345,000 1.8% 16.9%
Montgomery County, PA $383,900 2.9% 11.3%
Nashville, TN $375,000 5.4% 19.0%
Nassau County, NY $565,000 2.4% 17.7%
New Brunswick, NJ $415,000 3.8% 18.6%
New Haven, CT $279,900 8.5% 20.6%
New Orleans, LA $275,000 2.2% 17.5%
New York, NY $640,000 0.0% 12.3%
Newark, NJ $457,400 2.8% 20.4%
North Port, FL $360,600 1.6% 26.1%
Oakland, CA $980,000 3.2% 30.1%
Oklahoma City, OK $225,000 4.7% 14.7%
Omaha, NE $253,000 2.0% 11.0%
Orlando, FL $315,000 1.6% 14.1%
Oxnard, CA $750,000 -3.8% 22.0%
Philadelphia, PA $269,900 1.8% 14.9%
Phoenix, AZ $400,000 4.2% 33.3%
Pittsburgh, PA $215,000 6.2% 14.7%
Portland, OR $510,000 4.1% 22.0%
Providence, RI $363,000 3.7% 17.5%
Raleigh, NC $360,000 2.9% 18.0%
Richmond, VA $311,000 0.6% 13.1%
Riverside, CA $503,000 3.7% 27.3%
Rochester, NY $193,500 7.6% 20.9%
Sacramento, CA $550,000 3.8% 29.3%
Salt Lake City, UT $455,000 3.3% 27.8%
San Antonio, TX $282,500 2.7% 16.3%
San Diego, CA $760,000 4.8% 27.1%
San Francisco, CA $1,540,000 1.9% 2.8%
San Jose, CA $1,375,000 1.9% 14.6%
Seattle, WA $737,800 2.5% 26.1%
St. Louis, MO $230,000 7.0% 15.0%
Tacoma, WA $501,000 1.2% 26.8%
Tampa, FL $300,000 3.4% 20.0%
Tucson, AZ $301,000 3.8% 25.9%
Tulsa, OK $214,300 -2.2% 11.9%
Honolulu, HI $662,000 5.1% 7.6%
Virginia Beach, VA $285,000 1.8% 9.6%
Warren, MI $275,000 5.8% 23.8%
Washington, DC $512,500 1.7% 16.5%
West Palm Beach, FL $371,000 5.9% 21.6%
Worcester, MA $360,000 5.9% 16.5%
National $377,200 2.4% 26.3%

Homes Sold

Redfin Metro Homes Sold Month-Over-Month Year-Over-Year
Albany, NY 837 -2.3% 28.2%
Allentown, PA 832 8.8% 78.9%
Anaheim, CA 3,297 -6.0% 137.2%
Atlanta, GA 10,220 -2.3% 32.5%
Austin, TX 3,746 5.8% 41.1%
Bakersfield, CA 891 0.1% 65.3%
Baltimore, MD 4,521 3.3% 46.2%
Baton Rouge, LA 1,257 4.3% 57.7%
Birmingham, AL 1,668 -3.6% 28.5%
Boston, MA 4,737 12.6% 55.7%
Bridgeport, CT 1,268 -4.7% 36.8%
Buffalo, NY 847 4.2% 25.3%
Camden, NJ 1,742 2.0% 24.0%
Charleston, SC 1,940 0.6% 43.4%
Charlotte, NC 4,432 0.2% 25.1%
Chicago, IL 10,921 3.1% 70.4%
Cincinnati, OH 3,000 8.5% 21.1%
Cleveland, OH 2,708 9.4% 22.3%
Columbus, OH 2,869 5.2% 17.0%
Dallas, TX 6,617 3.3% 29.0%
Dayton, OH 1,090 4.8% 14.6%
Denver, CO 5,550 2.4% 65.7%
Detroit, MI 1,861 2.7% 121.3%
El Paso, TX 823 -7.5% 23.2%
Elgin, IL 1,168 7.0% 33.9%
Fort Lauderdale, FL 3,841 -9.8% 135.4%
Fort Worth, TX 3,060 -3.6% 16.1%
Frederick, MD 2,022 4.2% 58.2%
Fresno, CA 817 -1.2% 41.8%
Grand Rapids, MI 1,315 5.9% 77.0%
Greensboro, NC 1,022 8.4% 41.9%
Greenville, SC 1,337 -2.1% 19.9%
Hartford, CT 1,557 6.1% 18.9%
Houston, TX 10,151 2.1% 51.4%
Indianapolis, IN 3,387 10.0% 21.8%
Jacksonville, FL 3,328 -0.8% 53.0%
Kansas City, MO 3,586 10.8% 19.3%
Knoxville, TN 1,241 -6.8% 8.5%
Lake County, IL 1,537 11.1% 59.3%
Las Vegas, NV 4,204 -9.8% 105.5%
Los Angeles, CA 7,000 -7.0% 122.0%
Louisville, KY 1,506 4.3% 31.4%
McAllen, TX 403 1.5% 31.3%
Memphis, TN 1,214 7.3% 18.9%
Miami, FL 3,582 -15.9% 142.5%
Milwaukee, WI 2,031 7.0% 25.0%
Minneapolis, MN 5,661 7.4% 16.7%
Montgomery County, PA 2,412 8.2% 84.3%
Nashville, TN 3,768 -2.8% 18.5%
Nassau County, NY 2,338 -9.9% 47.3%
New Brunswick, NJ 3,179 0.0% 35.8%
New Haven, CT 1,057 1.0% 36.2%
New Orleans, LA 1,623 -5.2% 62.5%
New York, NY 6,447 1.6% 81.7%
Newark, NJ 2,236 2.7% 41.7%
North Port, FL 2,611 -14.3% 82.8%
Oakland, CA 3,154 -5.0% 145.3%
Oklahoma City, OK 2,254 -0.4% 21.8%
Omaha, NE 1,365 18.7% 9.3%
Orlando, FL 4,852 -6.7% 72.2%
Oxnard, CA 861 -6.9% 126.6%
Philadelphia, PA 2,627 1.0% 127.4%
Phoenix, AZ 8,923 -6.8% 35.6%
Pittsburgh, PA 2,480 5.4% 133.3%
Portland, OR 4,048 3.9% 54.5%
Providence, RI 1,819 3.0% 28.8%
Raleigh, NC 2,681 3.7% 20.3%
Richmond, VA 2,006 8.4% 22.8%
Riverside, CA 5,291 -9.4% 63.6%
Rochester, NY 907 8.1% 16.3%
Sacramento, CA 3,029 -1.3% 59.7%
San Antonio, TX 3,227 -0.5% 18.5%
San Diego, CA 3,529 -7.8% 77.4%
San Francisco, CA 1,384 -8.0% 166.7%
San Jose, CA 1,903 -7.2% 171.5%
Seattle, WA 5,203 4.0% 73.3%
St. Louis, MO 4,003 6.0% 23.0%
Tacoma, WA 1,492 -4.1% 40.2%
Tampa, FL 6,530 -8.5% 46.4%
Tucson, AZ 1,687 -7.9% 23.7%
Tulsa, OK 1,515 5.0% 24.7%
Honolulu, HI 953 -5.0% 92.5%
Virginia Beach, VA 3,025 -0.4% 33.5%
Warren, MI 3,664 7.3% 154.3%
Washington, DC 8,362 3.0% 51.8%
West Palm Beach, FL 3,855 -9.7% 128.1%
Worcester, MA 1,013 16.8% 18.8%
National 615,800 -0.7% 52.2%

New Listings

Redfin Metro New Listings Month-Over-Month Year-Over-Year
Albany, NY 1,352 4.2% 48.4%
Allentown, PA 582 -36.2% -30.2%
Anaheim, CA 3,462 -4.2% 26.8%
Atlanta, GA 10,789 -9.5% 1.1%
Austin, TX 4,291 -6.3% 9.0%
Bakersfield, CA 950 -10.7% 10.9%
Baltimore, MD 5,557 -1.1% 32.7%
Baton Rouge, LA 576 -39.0% -47.3%
Birmingham, AL 1,671 -12.1% -3.8%
Boston, MA 6,021 -12.1% 10.4%
Bridgeport, CT 2,015 -1.3% 16.8%
Buffalo, NY 1,414 12.6% 48.1%
Camden, NJ 2,457 4.5% 37.3%
Charleston, SC 1,847 -9.7% -7.3%
Charlotte, NC 3,150 -26.0% -32.3%
Chicago, IL 12,962 -8.4% 25.2%
Cincinnati, OH 3,457 -0.5% 3.0%
Cleveland, OH 3,648 9.2% 24.3%
Columbus, OH 3,538 3.1% 19.1%
Dallas, TX 7,606 -2.7% -8.7%
Dayton, OH 1,292 -4.4% 8.8%
Denver, CO 6,085 -5.0% -7.9%
Detroit, MI 2,574 9.8% 7.7%
El Paso, TX 953 -7.8% 9.3%
Elgin, IL 1,425 -0.1% 16.0%
Fort Lauderdale, FL 3,462 -9.4% 11.5%
Fort Worth, TX 3,485 -4.8% -9.8%
Frederick, MD 2,347 -6.2% 39.9%
Fresno, CA 982 0.2% 27.9%
Grand Rapids, MI 1,508 3.5% -13.9%
Greensboro, NC 694 -19.9% -29.4%
Greenville, SC 1,381 -5.7% 6.8%
Hartford, CT 2,255 6.8% 30.0%
Houston, TX 11,893 -1.1% 12.2%
Indianapolis, IN 3,843 -3.7% 3.6%
Jacksonville, FL 3,412 -11.5% 18.9%
Kansas City, MO 4,123 -8.1% 6.3%
Knoxville, TN 1,302 -3.8% -7.4%
Lake County, IL 1,810 -6.5% 38.0%
Las Vegas, NV 4,808 0.2% 33.4%
Los Angeles, CA 8,211 -1.5% 28.4%
Louisville, KY 1,696 -0.5% 6.7%
McAllen, TX 506 -1.9% 8.8%
Memphis, TN 1,485 -0.8% 17.7%
Miami, FL 4,357 0.6% 36.6%
Milwaukee, WI 2,524 1.4% 14.6%
Minneapolis, MN 7,283 1.0% 8.1%
Montgomery County, PA 3,429 1.9% 35.5%
Nashville, TN 3,718 -2.6% -16.5%
Nassau County, NY 3,986 -2.1% 63.5%
New Brunswick, NJ 4,490 1.4% 31.4%
New Haven, CT 1,522 4.2% 37.9%
New Orleans, LA 1,767 -5.5% 11.3%
New York, NY 9,812 -9.5% 77.0%
Newark, NJ 3,234 -2.9% 23.1%
North Port, FL 2,448 -10.2% 29.9%
Oakland, CA 3,321 -10.4% 23.5%
Oklahoma City, OK 2,618 1.6% 2.6%
Omaha, NE 1,408 -13.4% -9.7%
Orlando, FL 5,063 -2.6% 14.4%
Oxnard, CA 937 -3.9% 23.3%
Philadelphia, PA 3,528 -7.0% 51.9%
Phoenix, AZ 9,028 -11.4% 13.6%
Pittsburgh, PA 3,399 4.7% 20.8%
Portland, OR 4,517 -5.0% 19.6%
Providence, RI 2,517 4.0% 20.2%
Raleigh, NC 2,418 -14.2% -10.7%
Richmond, VA 2,388 -1.4% 33.4%
Riverside, CA 6,263 -1.8% 26.6%
Rochester, NY 1,355 -4.0% 20.3%
Sacramento, CA 3,353 -5.8% 2.6%
San Antonio, TX 3,851 3.3% 6.4%
San Diego, CA 4,046 0.8% 15.0%
San Francisco, CA 1,234 -20.3% -0.1%
San Jose, CA 2,074 -2.7% 48.2%
Seattle, WA 5,901 -6.4% 25.3%
St. Louis, MO 2,348 -39.4% -43.3%
Tacoma, WA 1,865 -0.4% 27.7%
Tampa, FL 6,913 -3.5% 15.4%
Tucson, AZ 1,701 -11.2% 11.0%
Tulsa, OK 1,711 -2.5% 11.9%
Honolulu, HI 778 -15.2% 1.8%
Virginia Beach, VA 3,642 -1.1% 39.8%
Warren, MI 4,685 2.8% -2.6%
Washington, DC 9,919 -5.6% 46.3%
West Palm Beach, FL 3,816 -5.6% 22.0%
Worcester, MA 1,349 -6.1% 7.9%
National 598,700 -0.4% 12.6%

All Homes for Sale

Redfin Metro All Homes for Sale Month-Over-Month Year-Over-Year
Albany, NY 2,837 4.0% -7.8%
Allentown, PA 1,457 -18.2% -38.2%
Anaheim, CA 7,730 -4.2% -10.5%
Atlanta, GA 21,461 -3.9% -39.6%
Austin, TX 8,395 5.9% -21.5%
Bakersfield, CA 1,977 -1.5% -21.6%
Baltimore, MD 10,376 4.9% -15.9%
Baton Rouge, LA 1,848 -22.3% -59.7%
Birmingham, AL 4,404 -5.0% -24.0%
Boston, MA 12,178 -0.2% -3.1%
Bridgeport, CT 5,831 5.4% -5.7%
Buffalo, NY 2,314 13.0% -1.9%
Camden, NJ 4,876 6.5% -17.4%
Charleston, SC 5,414 -2.3% -27.1%
Charlotte, NC 8,875 -11.7% -42.5%
Chicago, IL 28,513 -0.2% -15.1%
Cincinnati, OH 8,533 5.4% -9.9%
Cleveland, OH 7,291 5.7% -13.7%
Columbus, OH 7,680 7.9% -6.4%
Dallas, TX 14,632 0.3% -39.6%
Dayton, OH 2,558 1.2% -16.1%
Denver, CO 8,905 4.0% -34.6%
Detroit, MI 4,985 6.5% -26.1%
El Paso, TX 2,443 -4.8% -30.4%
Elgin, IL 2,306 5.2% -34.6%
Fort Lauderdale, FL 12,036 -9.1% -25.4%
Fort Worth, TX 6,648 -1.2% -39.5%
Frederick, MD 4,315 4.5% -3.8%
Fresno, CA 1,610 0.9% -23.6%
Grand Rapids, MI 2,369 4.0% -34.4%
Greensboro, NC 1,764 -14.3% -45.0%
Greenville, SC 3,804 -3.4% -27.6%
Hartford, CT 5,224 5.1% -10.1%
Houston, TX 24,853 -1.4% -31.8%
Indianapolis, IN 6,160 -0.5% -23.7%
Jacksonville, FL 7,404 -3.6% -30.4%
Kansas City, MO 7,589 0.3% -18.3%
Knoxville, TN 3,551 -0.1% -29.1%
Lake County, IL 3,469 1.6% -27.0%
Las Vegas, NV 9,557 -0.1% -25.9%
Los Angeles, CA 20,754 -1.2% 2.9%
Louisville, KY 3,178 1.0% -22.2%
McAllen, TX 1,756 -4.8% -36.7%
Memphis, TN 3,193 4.7% -13.4%
Miami, FL 16,579 -4.4% -16.4%
Milwaukee, WI 6,265 7.6% -2.2%
Minneapolis, MN 12,892 6.1% -18.6%
Montgomery County, PA 6,409 6.9% -6.5%
Nashville, TN 8,171 -0.6% -43.9%
Nassau County, NY 10,043 4.7% -6.0%
New Brunswick, NJ 9,772 4.9% -20.8%
New Haven, CT 3,853 5.1% -3.8%
New Orleans, LA 4,139 -4.8% -26.2%
New York, NY 37,758 2.4% 13.4%
Newark, NJ 8,388 6.3% -7.2%
North Port, FL 4,182 -9.6% -51.1%
Oakland, CA 5,300 -1.9% -3.8%
Oklahoma City, OK 4,375 0.3% -34.8%
Omaha, NE 2,282 -4.3% -28.6%
Orlando, FL 9,238 -3.2% -34.3%
Oxnard, CA 2,135 1.9% -10.4%
Philadelphia, PA 8,988 0.2% 14.4%
Phoenix, AZ 18,272 -4.3% -26.5%
Pittsburgh, PA 9,492 8.6% 4.9%
Portland, OR 7,302 4.3% -22.9%
Providence, RI 4,993 1.4% -16.6%
Raleigh, NC 5,732 -5.9% -36.3%
Richmond, VA 4,063 7.3% -12.9%
Riverside, CA 13,110 0.2% -25.6%
Rochester, NY 2,156 5.4% -12.6%
Sacramento, CA 5,503 1.8% -29.3%
San Antonio, TX 7,372 -0.8% -40.1%
San Diego, CA 6,832 3.1% -22.5%
San Francisco, CA 3,037 -10.2% 12.0%
San Jose, CA 3,634 -1.2% 11.2%
Seattle, WA 8,861 3.7% -6.8%
St. Louis, MO 6,619 -18.1% -44.1%
Tacoma, WA 2,677 10.6% -8.9%
Tampa, FL 11,663 -2.8% -38.5%
Tucson, AZ 4,239 -5.2% -20.4%
Tulsa, OK 2,905 -1.9% -30.9%
Honolulu, HI 2,926 -9.6% -26.2%
Virginia Beach, VA 6,858 1.6% -11.0%
Warren, MI 8,312 9.1% -25.2%
Washington, DC 19,047 4.8% 3.5%
West Palm Beach, FL 10,979 -2.6% -29.9%
Worcester, MA 2,580 4.7% -16.0%
National 1,329,500 -6.0% -26.9%

Median Off-Market Redfin Estimate

Redfin Metro Estimate Month-Over-Month Year-Over-Year
Albany, NY $219,700 1.0% 11.0%
Allentown, PA $238,400 1.1% 12.2%
Anaheim, CA $830,000 1.9% 12.8%
Atlanta, GA $265,900 1.7% 14.2%
Austin, TX $369,100 4.2% 22.7%
Bakersfield, CA $217,000 0.1% 10.5%
Baltimore, MD $302,200 1.3% 11.4%
Baton Rouge, LA $143,300 1.5% 10.4%
Birmingham, AL $150,900 0.9% 11.6%
Boston, MA $579,000 1.4% 10.1%
Bridgeport, CT $424,200 1.0% 8.6%
Buffalo, NY $170,800 1.4% 12.7%
Camden, NJ $237,600 1.4% 15.3%
Charleston, SC $266,300 1.5% 11.7%
Charlotte, NC $248,500 2.0% 17.9%
Chicago, IL $279,600 1.2% 6.7%
Cincinnati, OH $186,400 1.4% 12.2%
Cleveland, OH $158,800 1.2% 12.5%
Columbus, OH $221,600 0.1% 11.1%
Dallas, TX $290,300 1.7% 12.6%
Dayton, OH $142,000 1.4% 12.6%
Denver, CO $464,400 1.7% 10.4%
Detroit, MI $116,900 1.3% 11.5%
Elgin, IL $250,400 1.2% 8.6%
Fort Lauderdale, FL $303,000 1.1% 10.1%
Fort Worth, TX $247,200 1.6% 12.0%
Frederick, MD $456,200 1.5% 9.7%
Fresno, CA $300,600 1.9% 15.1%
Grand Rapids, MI $202,800 1.8% 17.8%
Greensboro, NC $159,100 1.6% 15.1%
Greenville, SC $181,000 1.4% 12.6%
Hartford, CT $241,700 1.0% 7.8%
Houston, TX $221,900 1.5% 11.6%
Indianapolis, IN $186,100 0.7% 12.4%
Jacksonville, FL $241,900 1.5% 13.7%
Kansas City, MO $205,700 1.5% 11.4%
Knoxville, TN $206,000 2.0% 15.4%
Lake County, IL $237,200 1.2% 9.4%
Las Vegas, NV $318,300 1.9% 11.3%
Los Angeles, CA $726,100 1.6% 11.9%
Louisville, KY $195,800 1.0% 10.6%
Memphis, TN $171,200 1.3% 16.5%
Miami, FL $347,700 1.2% 10.2%
Milwaukee, WI $228,300 1.5% 10.4%
Minneapolis, MN $300,400 1.1% 9.7%
Montgomery County, PA $360,400 1.1% 10.9%
Nashville, TN $308,500 1.6% 10.6%
Nassau County, NY $541,900 0.7% 12.6%
New Brunswick, NJ $390,300 1.1% 12.9%
New Haven, CT $246,800 1.2% 10.7%
New Orleans, LA $189,100 1.4% 10.8%
Newark, NJ $415,400 0.8% 13.2%
North Port, FL $269,500 1.8% 13.4%
Oakland, CA $896,200 2.6% 14.5%
Oklahoma City, OK $161,700 0.9% 11.4%
Omaha, NE $213,300 1.2% 12.3%
Orlando, FL $261,600 1.4% 10.6%
Oxnard, CA $673,700 1.8% 11.5%
Philadelphia, PA $217,100 1.3% 12.8%
Phoenix, AZ $327,800 2.4% 19.4%
Pittsburgh, PA $147,900 -0.7% 11.8%
Portland, OR $447,900 1.6% 11.6%
Providence, RI $337,000 1.2% 14.2%
Raleigh, NC $288,900 1.6% 11.4%
Richmond, VA $260,300 1.3% 9.8%
Riverside, CA $391,800 2.0% 18.0%
Rochester, NY $161,300 1.3% 10.7%
Sacramento, CA $478,600 2.0% 15.4%
Salt Lake City, UT $413,500 2.0% 16.1%
San Antonio, TX $205,700 1.2% 11.5%
San Diego, CA $706,800 3.0% 16.4%
San Francisco, CA $1,419,200 1.8% 3.4%
San Jose, CA $1,315,100 2.6% 12.9%
Seattle, WA $657,200 2.3% 16.0%
St. Louis, MO $166,700 -0.2% 5.0%
Tacoma, WA $436,800 2.0% 18.1%
Tampa, FL $252,900 1.7% 14.1%
Tucson, AZ $241,200 2.4% 17.8%
Tulsa, OK $145,900 0.7% 10.0%
Honolulu, HI $760,700 1.5% 8.4%
Virginia Beach, VA $255,700 0.8% 9.6%
Warren, MI $235,600 1.4% 12.0%
Washington, DC $443,200 1.3% 10.4%
West Palm Beach, FL $308,300 1.5% 10.8%
Worcester, MA $318,600 1.7% 13.2%
National $345,300 1.4% 15.3%
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Tim Ellis

Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the "Dispatches from the Multiverse" improvised comedy sci-fi podcast.

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Taylor Marr

Taylor Marr is the deputy chief economist on the research team at Redfin. He is passionate about housing and urban policy and an advocate for increased mobility and affordability. He laid the framework for our migration data and reports and diligently tracks the housing market and economy. Before Redfin, Taylor built financial market index funds for Vanguard at the University of Chicago. Taylor went to graduate school for international economics in Berlin, where he focused on behavioral causes of the global housing bubble and subsequent policy responses. Taylor’s research has been featured in the New York Times, the Wall Street Journal, and The Economist. He was also recently the President of the Seattle Economics Council and collaborates frequently with the Fed, HUD, and the Census Bureau. Follow him on Twitter @tayloramarr or subscribe to his weekly newsletter on Substack here: https://taylormarr.substack.com

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