Rising Real Estate Values
January 12, 2012
The good news is that a few metro areas that are not on the main drag such as Oklahoma City and Tulsa are seen at the top of the list of markets with the highest year over year median home/value increases seen from October 2010 to October 2011. The information was compiled by Zillow. The top 20 United States metro areas by the size of their population are nowhere to be found on this top 9 list.
The Tulsa metro area is at the top of the list with a 6.2% median home value that increased to $101,000, which is the lowest value in one year found on the top 9 list with Oklahoma City coming in 2nd with 3.1%.
Pittsburgh found at #22 by the size of their population with 2.35 million people in 2010, as reported by the U.S. Census data, was the largest populated area found on this new list and is in 8th place with a median home/value increase of 0.4%. This area also saw a drop in population from 2000 to 2010.
The average of median home/value increases over the past year for these markets was 1.6% and 5 of the 9 were holding steady around $100,000. At the high end of the list were Madison, Fort Collins, Honolulu, and Boulder with the median home values at $192,400 for Madison, $217,300 for Fort Collins, $474,200 for Honolulu, and $304,000 for Boulder.
The list includes these metro areas:
1. Tulsa, Oklahoma Median Home Value: $101,000 Change from October 2010 to October 2011: 6.2%
2. Oklahoma City, Oklahoma Median Home Value: $105,900 Change from October 2010 to October 2011: 3.1%
3. Lincoln, Nebraska Median Home Value: $127,400 Change from October 2010 to October 2011: 2.7%
4. Madison, Wisconsin Median Home Value: $192,400
Change from October 2010 to October 2011: 1.3%
5. Honolulu, Hawaii Median Home Value: $474,200 Change from October 2010 to October 2011: 1.3%
6. Fort Collins, Colorado Median Home Value: $217,300 Change from October 2010 to October 2011: 1.3%
7. Fort Myers, Florida Median Home Value: $127,400 Change from October 2010 to October 2011: 0.4%
8. Pittsburgh, Pennsylvania Median Home Value: $106,500 Change from October 2010 to October 2011: 0.4%
9. Boulder, Colorado Median Home Value: $304,000 Change from October 2010 to October 2011: 0.2%