Home price
changes in major U.S. markets
By Julie
G. Bandy Bankrate.com
In
most parts of the country, single-family homes are solid financial
investments. The median price for an existing home has increased
7.4 percent the past year.
Housing prices vary from region
to region, but according to the National Association of Realtors
quarterly survey, the median home price across the nation was $150,900
in the first quarter of 2002, up from $139,700 in the first quarter
last year.
The highest jump in home
values occurred in Worcester, Mass. Single-family
home prices increased 25.2 percent, followed
by Atlantic City, N.J., at 21.8 percent
and Providence, R.I., at 19.3 percent.
Home values fell the sharpest in Beaumont,
Texas. Values in this Texas city, the
hometown of country star George Jones,
fell 8.1 percent followed by declines
of 7.6 percent in Peoria, Ill., and 6.3
percent in Springfield, Mo.
Want to see how home values fared
in your neighborhood? This chart
shows the median price in thousands of dollars. It compares home
values from the first quarter of 2001 with the first quarter of
2002. Not all cities reported their information, so some major metropolitan
areas are left out.
|
Median home prices:
2001 - 2002
|
| ALABAMA |
|
2002
($000s)
|
%
Change
|
| Mobile |
94.7
|
115.4
|
21.9%
|
| ARKANSAS |
|
2002
($000s)
|
%
Change
|
| Little
Rock/N. Little Rock |
91.9
|
91.9
|
0%
|
| ARIZONA |
|
2002
($000s)
|
%
Change
|
| Phoenix |
135.5
|
141.7
|
4.6%
|
| Tucson |
117.2
|
137.6
|
17.4%
|
| CALIFORNIA |
|
2002
($000s)
|
%
Change
|
| Orange
County (Anaheim/Santa Ana MSA) |
337.5
|
372.0
|
10.2%
|
| Los
Angeles area |
225.2
|
265.0
|
17.7%
|
| Riverside/San
Bernardino |
143.8
|
164.7
|
14.5%
|
| Sacramento |
161.5
|
185.7
|
15.0%
|
| San
Francisco Bay Area |
484.3
|
482.3
|
-0.4%
|
| COLORADO |
|
2002
($000s)
|
%
Change
|
| Denver |
210.0
|
233.8
|
6.6%
|
| CONNECTICUT |
|
2002
($000s)
|
%
Change
|
| Hartford |
145.0
|
156.5
|
7.9%
|
| New
Haven/Meriden |
159.1
|
173.5
|
9.1%
|
| DELAWARE |
|
2002
($000s)
|
%
Change
|
| Wilmington |
133.6
|
136.2
|
1.9%
|
| DISTRICT
OF COLUMBIA |
|
2002
($000s)
|
%
Change
|
| Washington,
D.C. |
183.7
|
229.1
|
19.8%
|
| FLORIDA |
|
2002
($000s)
|
%
Change
|
| Daytona
Beach |
90.4
|
103.0
|
13.9%
|
| Fort
Lauderdale/Hollywood/Pompano Beach |
157.4
|
181.2
|
15.1%
|
| Fort
Myers/Cape Coral |
110.4
|
124.7
|
13.0%
|
| Gainesville |
114.0
|
124.7
|
9.4%
|
| Jacksonville |
101.1
|
108.5
|
7.3%
|
| Melbourne/Titusville/Palm
Bay |
99.0
|
99.6
|
0.6%
|
| Miami/Hialeah |
152.0
|
172.5
|
13.5%
|
| Orlando |
118.0
|
127.5
|
8.1%
|
| Pensacola |
98.9
|
109.5
|
10.7%
|
| Tallahassee |
128.7
|
133.1
|
3.4%
|
| Tampa/St.
Petersburg/Clearwater |
118.5
|
127.9
|
9.5%
|
| West
Palm Beach/Boca Raton/Delray Beach |
139.4
|
159.1
|
14.1%
|
| GEORGIA |
|
2002
($000s)
|
%
Change
|
| Atlanta |
136.0
|
140.6
|
3.4%
|
| HAWAII |
|
2002
($000s)
|
%
Change
|
| Honolulu |
280.0
|
310.0
|
10.7%
|
| IDAHO |
|
2002
($000s)
|
%
Change
|
| Boise
City |
130.2
|
130.0
|
-0.2%
|
| ILLINOIS |
|
2002
($000s)
|
%
Change
|
| Aurora/Elgin |
175.9
|
185.5
|
5.5%
|
| Champaign/Urbana/Rantoul |
92.5
|
95.1
|
2.8%
|
| Chicago |
184.3
|
198.0
|
7.4%
|
| Lake
County |
169.8
|
184.5
|
8.7%
|
| Peoria |
87.5
|
81.2
|
-7.2%
|
| Rockford |
95.4
|
97.9
|
2.6%
|
| Springfield |
80.3
|
83.9
|
4.5%
|
| INDIANA |
|
2002
($000s)
|
%
Change
|
| Fort
Wayne |
91.7
|
89.9
|
-2.0%
|
| Gary/Hammond |
104.9
|
104.2
|
-0.7%
|
| Indianapolis |
111.0
|
111.9
|
0.8%
|
| South
Bend/Mishawaka |
85.1
|
84.3
|
-0.9%
|
| IOWA |
|
2002
($000s)
|
%
Change
|
| Cedar
Rapids |
112.5
|
113.2
|
0.6%
|
| Davenport/Moline/Rock
Island |
88.9
|
89.0
|
0.1%
|
| KANSAS |
|
2002
($000s)
|
%
Change
|
| Topeka |
76.8
|
91.0
|
18.5%
|
| Wichita |
91.7
|
95.7
|
4.4%
|
| KENTUCKY |
|
2002
($000s)
|
%
Change
|
| Lexington/Fayette |
116.8
|
125.3
|
7.3%
|
| LOUISIANA |
|
2002
($000s)
|
%
Change
|
| Baton
Rouge |
111.5
|
110.4
|
-1.0%
|
| New
Orleans |
111.4
|
116.5
|
4.6%
|
| Shreveport |
85.0
|
87.5
|
2.9%
|
| MAINE |
|
2002
($000s)
|
%
Change
|
| Portland |
118.9
|
128.0
|
7.7%
|
|
| MARYLAND |
|
2002
($000s)
|
%
Change
|
| Baltimore |
147.6
|
165.0
|
11.8%
|
| MASSACHUSETTS |
|
2002
($000s)
|
%
Change
|
| Boston |
345.1
|
358.0
|
3.7%
|
| Springfield |
119.4
|
129.7
|
8.6%
|
| Worcester |
136.0
|
170.3
|
25.2%
|
| MICHIGAN |
|
2002
($000s)
|
%
Change
|
| Grand
Rapids |
121.7
|
121.6
|
-0.1%
|
| Kalamazoo |
114.1
|
110.7
|
-3.0%
|
| Saginaw/
Bay City/Midland |
80.6
|
83.1
|
3.1%
|
| MINNESOTA |
|
2002
($000s)
|
%
Change
|
| Minneapolis/St.
Paul |
151.0
|
173.0
|
14.6%
|
| Fargo/Moorhead,
N.D./Minn. |
96.4
|
102.9
|
6.7%
|
| MISSISSIPPI |
|
2002
($000s)
|
%
Change
|
| Biloxi/Gulfport |
94.3
|
95.6
|
1.4%
|
| MISSOURI |
|
2002
($000s)
|
%
Change
|
| Kansas
City, Mo./Kan. |
130.4
|
133.5
|
2.4%
|
| Springfield |
95.8
|
89.8
|
-6.3%
|
| NEBRASKA |
|
2002
($000s)
|
%
Change
|
| Lincoln |
110.8
|
113.7
|
2.6%
|
| Omaha |
113.1
|
118.7
|
5.0%
|
| NEVADA |
|
2002
($000s)
|
%
Change
|
| Las
Vegas |
142.7
|
153.1
|
7.3%
|
| Reno |
162.4
|
175.2
|
7.9%
|
| NEW
JERSEY |
|
2002
($000s)
|
%
Change
|
| Atlantic
City |
109.8
|
133.7
|
21.8%
|
| Bergen/Passaic |
268.7
|
295.8
|
10.1%
|
| Middlesex/Somerset/Hunterdon |
231.5
|
269.5
|
16.4%
|
| Monmouth/Ocean |
196.4
|
219.1
|
11.6%
|
| Newark |
243.4
|
279.2
|
14.7%
|
| Trenton |
161.6
|
154.6
|
-4.3%
|
| NEW
MEXICO |
|
2002
($000s)
|
%
Change
|
| Albuquerque |
126.2
|
129.4
|
2.5%
|
| NEW
YORK |
|
2002
($000s)
|
%
Change
|
| Albany/Schenectady/Troy |
116.6
|
127.5
|
9.3%
|
| New
York metro (incl. N. N.J., Long Island and Conn.) |
236.3
|
285.6
|
20.9%
|
| NORTH
CAROLINA |
|
2002
($000s)
|
%
Change
|
| Charlotte/Gastonia/Rock
Hill, NC/SC |
141.0
|
145.5
|
3.2%
|
| Greensboro/Winston-Salem/High
Point |
130.3
|
134.2
|
3.0%
|
| Raleigh/Durham |
163.4
|
169.1
|
3.5%
|
| NORTH
DAKOTA |
|
2002
($000s)
|
%
Change
|
| Fargo/Moorhead,
N.D./Minn. |
96.4
|
102.9
|
6.7%
|
| OHIO |
|
2002
($000s)
|
%
Change
|
| Akron |
110.0
|
103.7
|
-5.7%
|
| Cincinnati |
127.1
|
131.3
|
3.3%
|
| Dayton/Springfield |
108.1
|
106.1
|
-1.9%
|
| OKLAHOMA |
|
2002
($000s)
|
%
Change
|
| Oklahoma
City |
92.6
|
103.1
|
11.3%
|
| Tulsa |
99.5
|
103.7
|
4.2%
|
| OREGON |
|
2002
($000s)
|
%
Change
|
| Eugene/Springfield |
132.1
|
135.9
|
2.9%
|
| Portland |
170.3
|
175.7
|
3.2%
|
| PENNSYLVANIA |
|
2002
($000s)
|
%
Change
|
| Philadelphia |
123.4
|
122.0
|
-1.1%
|
| Pittsburgh |
90.6
|
94.4
|
4.2%
|
| RHODE
ISLAND |
|
2002
($000s)
|
%
Change
|
| Providence |
142.2
|
169.6
|
19.3%
|
| SOUTH
CAROLINA |
|
2002
($000s)
|
%
Change
|
| Charleston |
147.5
|
153.8
|
4.3%
|
| Columbia |
112.0
|
116.7
|
4.2%
|
| Greenville/Spartanburg |
119.1
|
122.4
|
2.8%
|
| TENNESSEE |
|
2002
($000s)
|
%
Change
|
| Chattanooga |
99.9
|
111.9
|
12.0%
|
| Knoxville |
109.4
|
117.2
|
7.1%
|
| Memphis |
122.4
|
123.9
|
1.2%
|
| TEXAS |
|
2002
($000s)
|
%
Change
|
| Amarillo
|
87.7
|
84.7
|
-3.4%
|
| Austin/San
Marcos |
148.4
|
157.3
|
6.0%
|
| Beaumont/Port
Arthur |
83.6
|
76.8
|
-8.1%
|
| Corpus
Christi |
88.8
|
89.4
|
0.7%
|
| Dallas |
122.7
|
130.8
|
6.6%
|
| El
Paso |
86.6
|
86.4
|
-0.2%
|
| Houston |
118.3
|
126.5
|
6.9%
|
| San
Antonio |
98.0
|
104.0
|
6.1%
|
| VIRGINIA |
|
2002
($000s)
|
%
Change
|
| Richmond/Petersburg |
127.2
|
129.2
|
1.6%
|
| WASHINGTON |
|
2002
($000s)
|
%
Change
|
| Seattle |
235.7
|
247.6
|
5.0%
|
| Spokane |
100.2
|
104.6
|
4.4%
|
| WEST
VIRGINIA |
2001
| |