Sunday, October 14, 2007

Zillow's numbers show slight price-drop

U.S. home values have declined slightly on a year-over-year basis for the second consecutive quarter, according to numbers tracked by home valuation site Zillow.com.The site's online analysis measures national values as well as those in 46 metropolitan areas, including the value of all homes in an area, not just those sold.Only the Pacific Northwest is largely bucking the decline. Four of the top five highest-appreciating metropolitan areas are located in Washington State or Oregon. Areas with the most depreciation are on the Gulf Coast of Florida.Zillow for the first time has compared what the "average" American home (3 bedrooms, 2 bathrooms, 1,500 square feet) is worth in 46 metropolitan areas. The price is highest in various California cities, with Santa Barbara's typical home value topping the list at $816,022. The most affordable typical homes are in the Midwest and South, with Tulsa, Okla., posting the most affordable value at $97,059. 5 highest-appreciating metro areas (year-over-year):

Corvallis, Ore.: 17.26 %
Grand Junction, Colo.: 16.57%
Seattle-Tacoma-Bremerton, Wash.: 12.03%
Bellingham, Wash.: 11.68%
Portland-Salem, Ore.: 10.72 %5

Metro areas that lost the most value (year-over-year):

Sarasota-Bradenton, Fla.: -15%
Punta Gorda, Fla.: -12.43%
Santa Barbara-Santa Maria-Lompoc, Calif.: -11.83%
Pittsfield, Mass.: -8.62%
Reno, Nev.: -8.5%
REALTOR® Magazine Online

1 comment:

Anonymous said...

People should read this.