Prospective Home Sellers and Buyers Retreated as Mortgage Rates Approached 6%

by Real estate financingMission+
35 minutes read

New listings fell 8% in August to their lowest level since May 2020. Prior to the onset of the pandemic, the last time so few homes hit the market was August 2012.

Seasonally-adjusted new listings of homes for sale fell 8% from July to August to their lowest level since May 2020, when the housing market was paralyzed by the onset of the COVID-19 pandemic. Prior to the pandemic, we hadn’t seen so few homes hit the market since November 2012.

Mortgage rates climbed from 5% at the beginning of August to 6% by the end of the month, pushing many homebuyers out of the market. This sharp decrease in demand gave the buyers who were left some additional negotiating power and softened home prices a bit, but caused many potential home sellers to hold off on listing. As a result, the market as a whole is relatively balanced between buyers and sellers, but there’s very little activity in terms of homes being listed and sold.

“When mortgage rates were below 3%, sales and home prices soared. The market was like a game of musical chairs with buyers vying for too few homes,” said Redfin Chief Economist Daryl Fairweather. “As mortgage rates approached 6%, almost everyone left the party. Now the market is more like a middle school dance where a small number of buyers and sellers are pairing up during a slow song.”

While we may be in a housing recession, the slowdown in sales is not a sign of a bubble bursting, Fairweather went on to explain:

“The bottom line is that homeowners don’t need to sell in this environment. They locked in rock-bottom mortgage rates last year and are sitting on piles of equity. The jobs market remains very strong, so there’s little risk that mortgage delinquencies or foreclosures will rise significantly. It would take a severe—not soft—recession to send homeowners into distress. We will have to wait and see if the broader economy steers toward normalcy or recession in the upcoming months.”

August Highlights

Market Summary August 2022 Month-Over-Month Year-Over-Year
Median sale price $406,900 -1.3% 7.1%
Homes sold, seasonally-adjusted 500,100 -1.7% -19.5%
Pending sales, seasonally-adjusted 489,200 0.2% -17.3%
New listings, seasonally-adjusted 507,400 -19.9% -21.7%
All Homes for sale, seasonally-adjusted 1,524,400 -1.1% 2.7%
Median days on market 26 5 9
Months of supply 2 -0.2 0.6
Sold above list 37.6% -9.6 pts -14.3 pts
Median Off-Market Redfin Estimate $417,800 -0.9% 18.2%
Average Sale-to-list 99.9% -1.1 pts -1.7 pts
Average 30-year fixed mortgage rate 5.22% -0.19 pp +2.38 pp
† – ‘pts’ = percentage point change

Other August Highlights

Competition

  • Indianapolis, Grand Rapids, MI and Rochester, NY were the fastest markets, with half of all homes pending sale in just 8 days. Albany, NY and Omaha, NE were the next fastest markets with 9 and 10 median days on market.
  • The most competitive market in August was Rochester, NY where 73.0% of homes sold above list price, followed by 72.4% in Buffalo, NY, 65.8% in Newark, NJ, 65.2% in Hartford, CT, and 62.8% in Worcester, MA.

Prices

  • Cape Coral, FL had the nation’s highest price growth, rising 20.6% since last year to $392,000. Knoxville, TN had the second highest growth at 20% year-over-year price growth, followed by Tampa, FL (19.7%), North Port, FL (19.5%), and West Palm Beach, FL (19.2%).
  • 4 metros saw price declines in August including San Francisco (-7.3%), Oakland, CA (-3.2%), Baton Rouge, LA (-1.1%), and Honolulu (-0.6%).

Sales

  • No metro areas had year-over-year sales growth in August. The smallest delcines were in Dayton, OH, down 1.4%, followed by Greenville, SC, down 2.7%. Rochester, NY rounded out the top three with sales down 3.7% from a year ago.
  • Las Vegas saw the largest decline in sales since last year, falling 37.2%. Home sales in San Jose, CA and Phoenix declined by 33.8% and 31.9%, respectively.

Inventory

  • North Port, FL had the highest increase in the number of homes for sale, up 51.2% year over year, followed by Austin, TX (39.5%) and Nashville, TN (38.0%).
  • Allentown, PA had the largest decrease in overall active listings, falling 44.5% since last August. Bridgeport, CT (-29.7%), Hartford, CT (-27.0%), and Montgomery County, PA (-26.8%) also saw far fewer homes available on the market than a year ago.

Redfin Estimate

  • Miami (46.1%) had the largest share of homes predicted to sell for below list price, according to Redfin Estimate data, followed by New Orleans (41.3%) and Cape Coral, FL (41.3%).
  • Hartford, CT (89.8%) had the largest share of homes predicted to sell at or above list price, followed by Worcester, MA (88.2%) and Boston (87.7%).

Scroll down for national charts and market-by-market breakdowns. 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 Home Price

Home Sales

Homes for Sale

New Listings

Days on Market

Sold Above List

Sale-to-List

Price Drops

Median Sale Price

Redfin Metro Median Sale Price Month-Over-Month Year-Over-Year
Albany, NY $305,000 3.0% 8.2%
Allentown, PA $320,000 3.2% 18.5%
Anaheim, CA $993,500 1.4% 9.8%
Atlanta, GA $381,500 -2.2% 15.6%
Austin, TX $500,000 -3.8% 5.5%
Bakersfield, CA $350,000 0.0% 11.1%
Baltimore, MD $365,000 -0.4% 7.4%
Baton Rouge, LA $250,000 -5.7% -1.1%
Birmingham, AL $280,000 -3.7% 9.8%
Boise, ID $496,000 -3.5% 3.3%
Boston, MA $675,000 -2.2% 7.5%
Bridgeport, CT $590,000 -1.1% 11.3%
Buffalo, NY $240,000 -1.6% 6.7%
Camden, NJ $305,000 -1.6% 10.9%
Cape Coral, FL $392,000 -2.0% 20.6%
Charleston, SC $398,900 -0.3% 10.8%
Charlotte, NC $400,000 1.9% 17.0%
Chicago, IL $310,000 -4.6% 1.6%
Cincinnati, OH $260,600 -1.7% 6.2%
Cleveland, OH $215,000 -1.8% 7.5%
Columbus, OH $310,000 -3.1% 8.8%
Dallas, TX $430,000 -1.1% 13.9%
Dayton, OH $196,500 -4.1% 10.4%
Denver, CO $575,000 -2.5% 8.5%
Detroit, MI $188,000 -5.5% 4.4%
El Paso, TX $240,000 0.0% 14.3%
Fort Lauderdale, FL $396,000 -5.7% 11.5%
Fort Worth, TX $370,000 -2.8% 17.5%
Frederick, MD $525,000 0.0% 5.0%
Fresno, CA $394,000 -1.5% 6.5%
Grand Rapids, MI $309,000 -0.3% 14.5%
Greensboro, NC $265,000 -3.6% 18.1%
Greenville, SC $315,000 -1.6% 14.5%
Hartford, CT $310,000 -2.1% 8.8%
Honolulu, HI $695,000 -2.1% -0.6%
Houston, TX $340,000 -1.4% 11.0%
Indianapolis, IN $280,000 -3.4% 12.0%
Jacksonville, FL $365,000 -2.7% 17.3%
Kansas City, MO $305,000 -3.2% 10.9%
Knoxville, TN $345,000 1.5% 20.0%
Lake County, IL $315,000 -1.7% 8.6%
Las Vegas, NV $416,000 -3.3% 10.9%
Los Angeles, CA $845,000 -2.0% 2.8%
Louisville, KY $260,000 1.6% 9.5%
McAllen, TX $220,000 -6.1% 16.4%
Memphis, TN $290,000 0.0% 13.7%
Miami, FL $460,000 -3.2% 12.2%
Milwaukee, WI $289,900 -3.4% 8.4%
Minneapolis, MN $370,000 -1.3% 5.7%
Montgomery County, PA $435,000 -3.3% 7.4%
Nashville, TN $444,700 -3.1% 12.6%
Nassau County, NY $630,000 0.0% 5.0%
New Brunswick, NJ $479,800 0.8% 12.9%
New Haven, CT $320,000 0.0% 13.9%
New Orleans, LA $279,400 -0.2% 3.9%
New York, NY $700,000 -1.4% 3.6%
Newark, NJ $526,600 -1.6% 8.6%
North Port, FL $450,000 -5.3% 19.5%
Oakland, CA $910,000 -4.2% -3.2%
Oklahoma City, OK $257,000 1.0% 16.8%
Omaha, NE $280,000 -3.4% 12.0%
Orlando, FL $391,800 -0.3% 16.9%
Oxnard, CA $805,000 -3.6% 3.9%
Philadelphia, PA $280,000 0.0% 3.7%
Phoenix, AZ $455,900 -2.4% 10.7%
Pittsburgh, PA $225,200 -4.1% 2.4%
Portland, OR $550,000 -1.8% 6.4%
Providence, RI $415,000 -1.2% 6.4%
Raleigh, NC $435,000 -3.0% 16.0%
Richmond, VA $350,000 -4.1% 7.7%
Riverside, CA $549,000 -0.2% 8.7%
Rochester, NY $215,000 -2.7% 7.5%
Sacramento, CA $570,000 -3.2% 3.6%
Salt Lake City, UT $525,000 0.0% 11.7%
San Antonio, TX $329,900 -1.0% 11.8%
San Diego, CA $800,000 -3.6% 6.8%
San Francisco, CA $1,400,000 -6.7% -7.3%
San Jose, CA $1,375,000 -1.8% 1.9%
Seattle, WA $775,000 -1.9% 6.9%
St. Louis, MO $250,000 -0.4% 8.7%
Stockton, CA $535,000 0.0% 5.9%
Tacoma, WA $543,000 -3.4% 7.5%
Tampa, FL $377,000 -2.4% 19.7%
Tucson, AZ $350,000 -4.1% 12.8%
Tulsa, OK $244,500 -2.6% 6.3%
Virginia Beach, VA $312,600 -2.3% 5.2%
Warren, MI $290,000 -1.7% 5.5%
Washington, D.C. $519,000 -2.1% 5.9%
West Palm Beach, FL $435,000 1.2% 19.2%
Worcester, MA $405,000 -3.6% 8.3%
National $406,900 -1.3% 7.1%

Homes Sold

Redfin Metro Homes Sold Month-Over-Month Year-Over-Year
Albany, NY 1,016 6.6% -10.9%
Allentown, PA 911 -4.3% -17.5%
Anaheim, CA 2,220 10.5% -30.1%
Atlanta, GA 8,507 -0.8% -23.4%
Austin, TX 2,755 -0.2% -27.1%
Bakersfield, CA 798 12.6% -13.2%
Baltimore, MD 3,927 6.7% -19.2%
Baton Rouge, LA 948 -5.0% -9.2%
Birmingham, AL 1,505 6.9% -19.6%
Boise, ID 1,143 4.8% -29.1%
Boston, MA 4,380 3.8% -16.8%
Bridgeport, CT 1,358 3.3% -16.2%
Buffalo, NY 1,166 1.8% -9.7%
Camden, NJ 1,756 1.7% -17.4%
Cape Coral, FL 1,689 -0.7% -17.3%
Charleston, SC 1,397 -2.3% -29.1%
Charlotte, NC 4,139 2.3% -18.4%
Chicago, IL 8,883 -0.3% -20.6%
Cincinnati, OH 2,922 3.5% -11.7%
Cleveland, OH 3,120 12.4% -5.0%
Columbus, OH 2,960 0.1% -17.6%
Dallas, TX 5,958 4.9% -13.9%
Dayton, OH 1,195 3.3% -1.4%
Denver, CO 4,477 -0.4% -25.7%
Detroit, MI 1,881 1.0% -15.0%
El Paso, TX 910 12.6% -10.7%
Fort Lauderdale, FL 2,798 1.9% -24.2%
Fort Worth, TX 3,020 4.3% -15.1%
Frederick, MD 1,544 -2.5% -26.1%
Fresno, CA 711 10.4% -21.6%
Grand Rapids, MI 1,389 -7.0% -12.5%
Greensboro, NC 1,003 3.6% -12.9%
Greenville, SC 1,326 8.6% -2.7%
Hartford, CT 1,633 7.3% -15.0%
Honolulu, HI 809 -0.6% -24.6%
Houston, TX 8,457 0.0% -18.3%
Indianapolis, IN 3,475 1.3% -11.5%
Jacksonville, FL 2,541 4.1% -25.4%
Kansas City, MO 3,347 -2.4% -17.3%
Knoxville, TN 1,320 -2.6% -12.0%
Lake County, IL 1,283 7.8% -21.7%
Las Vegas, NV 2,672 -2.7% -37.2%
Los Angeles, CA 5,121 2.9% -27.2%
Louisville, KY 1,782 -0.8% -7.9%
McAllen, TX 383 3.8% -8.2%
Memphis, TN 1,528 -0.4% -17.7%
Miami, FL 2,581 -0.1% -26.3%
Milwaukee, WI 2,063 -1.5% -16.4%
Minneapolis, MN 5,672 0.7% -19.7%
Montgomery County, PA 2,595 7.0% -20.2%
Nashville, TN 3,382 3.6% -17.9%
Nassau County, NY 2,997 17.2% -11.8%
New Brunswick, NJ 3,294 4.4% -17.6%
New Haven, CT 1,121 7.1% -14.2%
New Orleans, LA 1,208 -8.3% -8.3%
New York, NY 7,143 0.9% -19.7%
Newark, NJ 2,442 4.1% -15.4%
North Port, FL 1,817 2.0% -16.5%
Oakland, CA 2,283 10.1% -27.2%
Oklahoma City, OK 2,329 7.0% -8.2%
Omaha, NE 1,367 -2.2% -11.9%
Orlando, FL 3,966 4.2% -16.8%
Oxnard, CA 684 5.4% -21.6%
Philadelphia, PA 2,172 -1.2% -14.9%
Phoenix, AZ 5,764 0.9% -31.9%
Pittsburgh, PA 2,542 0.6% -12.9%
Portland, OR 3,254 5.8% -23.4%
Providence, RI 1,887 2.1% -13.8%
Raleigh, NC 2,418 4.4% -11.5%
Richmond, VA 1,865 -1.0% -18.7%
Riverside, CA 4,423 7.6% -24.3%
Rochester, NY 1,350 15.4% -3.7%
Sacramento, CA 2,355 8.5% -25.4%
Salt Lake City, UT 1,246 13.3% -27.1%
San Antonio, TX 2,915 -6.5% -21.0%
San Diego, CA 2,623 15.9% -29.1%
San Francisco, CA 897 1.1% -29.6%
San Jose, CA 1,159 10.6% -33.8%
Seattle, WA 3,805 5.5% -30.8%
St. Louis, MO 3,946 2.9% -15.0%
Stockton, CA 588 19.3% -18.0%
Tacoma, WA 1,337 6.5% -25.6%
Tampa, FL 5,371 5.0% -18.3%
Tucson, AZ 1,018 -0.4% -12.2%
Tulsa, OK 1,448 7.2% -13.1%
Virginia Beach, VA 2,934 3.6% -17.6%
Warren, MI 3,826 7.2% -10.9%
Washington, D.C. 5,782 -3.5% -28.5%
West Palm Beach, FL 2,365 0.0% -28.7%
Worcester, MA 1,244 10.6% -6.0%
National 500,100 -1.7% -19.5%

New Listings

Redfin Metro New Listings Month-Over-Month Year-Over-Year
Albany, NY 1,045 -13.9% -19.6%
Allentown, PA 509 -30.7% -55.2%
Anaheim, CA 2,062 -25.4% -34.7%
Atlanta, GA 9,758 -9.2% -17.6%
Austin, TX 3,698 -23.8% -13.8%
Bakersfield, CA 858 -13.1% -20.1%
Baltimore, MD 3,595 -16.9% -31.2%
Birmingham, AL 1,377 -25.5% -26.4%
Boise, ID 1,305 -17.9% -33.6%
Boston, MA 3,615 -17.7% -20.9%
Bridgeport, CT 1,050 -18.0% -27.0%
Buffalo, NY 1,396 -5.7% -7.7%
Camden, NJ 1,697 -12.2% -23.4%
Cape Coral, FL 1,904 -11.2% -16.4%
Charleston, SC 1,525 -8.4% -20.8%
Charlotte, NC 4,201 -15.6% -17.4%
Chicago, IL 9,012 -14.9% -25.5%
Cincinnati, OH 2,992 -4.8% -19.6%
Cleveland, OH 3,001 -14.9% -15.3%
Colorado Springs, CO 1,566 -19.5% -16.4%
Columbus, OH 2,966 -10.2% -19.6%
Dallas, TX 6,748 -20.4% -8.8%
Dayton, OH 1,154 -8.6% -19.2%
Denver, CO 4,799 -19.6% -20.0%
Detroit, MI 2,666 0.0% -9.4%
El Paso, TX 925 -5.4% -9.4%
Fort Lauderdale, FL 3,464 -11.0% -11.4%
Fort Worth, TX 3,582 -15.5% -1.9%
Frederick, MD 1,231 -28.7% -38.3%
Fresno, CA 817 -10.8% -17.5%
Grand Rapids, MI 1,347 -13.9% -18.0%
Greensboro, NC 722 -21.5% -46.0%
Greenville, SC 1,323 -9.9% -11.8%
Hartford, CT 1,486 -7.8% -22.8%
Honolulu, HI 822 -6.8% -29.7%
Houston, TX 10,275 -17.7% -12.4%
Indianapolis, IN 3,655 -7.5% -11.9%
Jacksonville, FL 3,015 -10.4% -20.1%
Kansas City, MO 3,208 -16.2% -20.8%
Knoxville, TN 1,245 -6.8% -18.7%
Lake County, IL 1,122 -12.9% -28.6%
Las Vegas, NV 4,301 -16.2% -15.4%
Los Angeles, CA 5,461 -18.2% -31.9%
Louisville, KY 1,861 -8.4% -16.3%
McAllen, TX 634 11.2% 21.5%
Memphis, TN 1,730 -7.9% -10.1%
Miami, FL 3,537 -4.6% -17.1%
Milwaukee, WI 1,823 -17.6% -27.0%
Minneapolis, MN 5,246 -12.9% -27.1%
Montgomery County, PA 1,985 -17.5% -30.9%
Nashville, TN 3,983 -12.9% 0.6%
Nassau County, NY 2,732 -10.6% -18.3%
New Brunswick, NJ 3,194 -10.8% -23.0%
New Haven, CT 1,069 -5.8% -23.8%
New Orleans, LA 1,569 -3.1% 1.9%
New York, NY 6,428 -16.5% -22.5%
Newark, NJ 1,900 -23.3% -30.3%
North Port, FL 2,097 -24.9% -12.0%
Oakland, CA 2,381 -19.1% -27.1%
Oklahoma City, OK 2,333 -16.3% -13.4%
Omaha, NE 1,298 -13.4% -15.1%
Orlando, FL 4,642 -13.7% -11.9%
Oxnard, CA 602 -27.8% -37.0%
Philadelphia, PA 2,386 -9.9% -20.3%
Phoenix, AZ 8,226 -15.8% -17.5%
Pittsburgh, PA 2,872 -7.2% -13.1%
Portland, OR 3,307 -18.2% -24.4%
Providence, RI 1,709 -15.8% -30.2%
Raleigh, NC 2,558 -8.1% -6.6%
Richmond, VA 1,632 -16.7% -26.6%
Riverside, CA 5,208 -13.7% -24.1%
Rochester, NY 1,184 -8.0% -17.4%
Sacramento, CA 2,685 -16.0% -19.8%
San Antonio, TX 3,663 -17.0% -11.7%
San Diego, CA 2,467 -23.8% -33.5%
San Francisco, CA 1,076 -9.0% -14.7%
San Jose, CA 1,238 -14.9% -29.7%
Seattle, WA 3,994 -20.2% -25.7%
St. Louis, MO 3,784 -10.5% -16.7%
Stockton, CA 767 -4.6% -23.1%
Tacoma, WA 1,420 -17.7% -22.8%
Tampa, FL 6,742 -11.4% -4.3%
Tucson, AZ 1,312 -7.4% -2.8%
Tulsa, OK 1,593 -7.1% -16.0%
Virginia Beach, VA 2,750 -10.7% -23.5%
Warren, MI 4,160 -11.3% -20.1%
Washington, D.C. 5,030 -24.8% -37.0%
West Palm Beach, FL 3,087 -12.2% -4.6%
Worcester, MA 1,139 -12.2% -19.6%
National 507,400 -19.9% -21.7%

All Homes for Sale

Redfin Metro All Homes for Sale Month-Over-Month Year-Over-Year
Albany, NY 2,906 -2.2% -15.9%
Allentown, PA 1,449 -19.6% -44.5%
Anaheim, CA 7,175 -5.2% -8.1%
Atlanta, GA 28,070 3.2% 5.9%
Austin, TX 14,253 2.0% 39.5%
Bakersfield, CA 2,634 -0.3% 11.8%
Baltimore, MD 9,499 -3.8% -19.9%
Birmingham, AL 4,712 -3.1% -10.9%
Boise, ID 4,918 1.5% -3.7%
Boston, MA 10,266 -7.1% -8.5%
Bridgeport, CT 3,983 -9.2% -29.7%
Buffalo, NY 2,932 0.7% -3.0%
Camden, NJ 4,425 -3.6% -19.9%
Cape Coral, FL 6,194 1.9% 27.9%
Charleston, SC 5,057 0.2% -9.6%
Charlotte, NC 12,446 3.3% -2.3%
Chicago, IL 35,854 -4.2% 7.5%
Cincinnati, OH 8,342 -0.4% -14.9%
Cleveland, OH 7,921 -1.3% -13.2%
Colorado Springs, CO 4,716 1.7% 28.9%
Columbus, OH 8,160 -1.9% -11.8%
Dallas, TX 20,618 -1.1% 21.1%
Dayton, OH 2,946 -1.9% -6.0%
Denver, CO 12,242 -2.1% 13.2%
Detroit, MI 7,187 5.5% 9.4%
El Paso, TX 2,738 2.4% -1.4%
Fort Lauderdale, FL 11,888 1.8% -7.9%
Fort Worth, TX 10,209 2.0% 22.8%
Frederick, MD 3,441 -9.5% -26.2%
Fresno, CA 2,222 2.2% 16.7%
Grand Rapids, MI 2,840 -3.9% -3.6%
Greensboro, NC 2,235 -8.2% -25.7%
Greenville, SC 4,209 1.8% 0.5%
Hartford, CT 4,039 -4.4% -27.0%
Honolulu, HI 3,148 -3.2% -14.7%
Houston, TX 32,458 2.1% 9.9%
Indianapolis, IN 7,963 -0.2% 4.5%
Jacksonville, FL 9,201 3.7% 4.0%
Kansas City, MO 8,341 -2.9% -8.6%
Knoxville, TN 3,982 -2.0% -11.0%
Lake County, IL 4,109 -5.2% -1.3%
Las Vegas, NV 15,130 7.7% 33.1%
Los Angeles, CA 19,492 -3.4% -12.3%
Louisville, KY 4,526 0.6% -5.4%
McAllen, TX 1,980 9.2% 28.2%
Memphis, TN 4,631 0.9% -6.6%
Miami, FL 14,374 1.1% -13.0%
Milwaukee, WI 5,916 -6.4% -24.6%
Minneapolis, MN 13,997 -1.1% -6.8%
Montgomery County, PA 5,062 -7.8% -26.8%
Nashville, TN 12,245 6.6% 38.0%
Nassau County, NY 9,435 -1.0% -11.5%
New Brunswick, NJ 10,986 -4.2% -3.8%
New Haven, CT 3,271 -3.0% -23.4%
New Orleans, LA 5,006 4.1% 11.0%
New York, NY 33,792 -4.5% -12.0%
Newark, NJ 7,039 -5.8% -16.7%
North Port, FL 6,513 -0.1% 51.2%
Oakland, CA 6,657 -2.9% 9.3%
Oklahoma City, OK 6,230 0.3% 13.5%
Omaha, NE 2,894 -2.5% -5.0%
Orlando, FL 12,777 2.6% 21.2%
Oxnard, CA 2,192 -4.5% -5.6%
Philadelphia, PA 8,501 -1.8% -6.3%
Phoenix, AZ 28,060 4.3% 31.5%
Pittsburgh, PA 10,280 -0.1% -8.0%
Portland, OR 9,083 -1.4% 7.5%
Providence, RI 4,792 -4.3% -18.9%
Raleigh, NC 7,147 4.1% 10.3%
Richmond, VA 3,652 -3.7% -15.7%
Riverside, CA 17,896 0.1% 9.5%
Rochester, NY 2,275 -4.8% -16.7%
Sacramento, CA 7,941 1.3% 18.6%
San Antonio, TX 11,270 2.3% 16.8%
San Diego, CA 7,467 -5.2% -1.5%
San Francisco, CA 3,287 -4.9% 2.3%
San Jose, CA 3,476 -3.2% -1.5%
Seattle, WA 10,767 -2.6% 17.2%
St. Louis, MO 9,448 -0.7% -12.5%
Stockton, CA 2,240 5.7% 17.0%
Tacoma, WA 3,872 1.2% 22.6%
Tampa, FL 17,528 5.3% 31.7%
Tucson, AZ 4,055 5.5% 17.4%
Tulsa, OK 3,628 2.1% -2.5%
Virginia Beach, VA 6,764 -3.8% -21.8%
Warren, MI 10,743 1.5% -3.0%
Washington, D.C. 16,006 -7.8% -20.8%
West Palm Beach, FL 11,410 1.8% 11.1%
Worcester, MA 2,863 -2.3% -7.9%
National 1,524,400 -1.1% 2.7%

Median Off-Market Redfin Estimate

Redfin Metro Estimate Month-Over-Month Year-Over-Year
Albany, NY $249,500 1.2% 9.1%
Allentown, PA $294,700 1.0% 17.9%
Anaheim, CA $1,073,000 -0.7% 22.2%
Atlanta, GA $360,900 0.8% 26.6%
Austin, TX $517,700 -1.7% 23.5%
Bakersfield, CA $284,200 0.9% 22.8%
Baltimore, MD $354,100 0.7% 12.7%
Baton Rouge, LA $156,400 0.6% 5.7%
Birmingham, AL $184,000 0.8% 16.5%
Boston, MA $658,700 0.1% 9.0%
Bridgeport, CT $500,900 0.9% 13.5%
Buffalo, NY $213,500 1.1% 19.0%
Camden, NJ $303,000 1.3% 20.4%
Charleston, SC $352,300 1.1% 24.9%
Charlotte, NC $335,700 0.7% 26.3%
Chicago, IL $301,500 0.3% 3.4%
Cincinnati, OH $229,900 0.8% 17.4%
Cleveland, OH $194,400 0.8% 16.9%
Columbus, OH $272,100 0.8% 17.3%
Dallas, TX $399,400 -0.1% 29.1%
Dayton, OH $170,000 0.6% 14.1%
Denver, CO $583,500 -1.6% 19.1%
Detroit, MI $140,000 0.9% 12.3%
Fort Lauderdale, FL $399,900 1.4% 26.8%
Fort Worth, TX $333,700 0.2% 26.9%
Frederick, MD $532,500 0.3% 11.8%
Fresno, CA $383,600 0.0% 20.6%
Grand Rapids, MI $253,500 0.3% 17.1%
Greensboro, NC $203,000 1.1% 20.7%
Greenville, SC $236,800 1.0% 24.4%
Hartford, CT $293,500 0.6% 17.2%
Houston, TX $286,100 0.7% 21.9%
Indianapolis, IN $239,400 1.1% 21.7%
Jacksonville, FL $336,100 0.8% 30.3%
Kansas City, MO $258,500 0.6% 19.4%
Knoxville, TN $279,000 1.6% 26.8%
Lake County, IL $269,300 0.7% 8.9%
Las Vegas, NV $430,700 0.1% 25.5%
Los Angeles, CA $874,200 -0.2% 14.6%
Louisville, KY $214,200 0.8% 8.8%
Memphis, TN $217,500 1.4% 21.2%
Miami, FL $456,100 1.4% 25.8%
Milwaukee, WI $271,700 0.4% 13.5%
Minneapolis, MN $350,000 -0.5% 12.0%
Montgomery County, PA $433,700 0.8% 14.8%
Nashville, TN $431,100 0.8% 30.9%
Nassau County, NY $627,400 0.8% 11.8%
New Brunswick, NJ $485,800 1.4% 18.7%
New Haven, CT $304,400 0.6% 18.1%
New Orleans, LA $212,600 0.3% 8.1%
Newark, NJ $483,300 1.6% 12.2%
North Port, FL $410,800 0.6% 42.7%
Oakland, CA $1,086,300 -2.1% 14.3%
Oklahoma City, OK $199,400 1.0% 19.0%
Omaha, NE $256,000 0.4% 14.7%
Orlando, FL $362,900 0.7% 31.8%
Oxnard, CA $837,700 -0.3% 17.3%
Philadelphia, PA $243,200 0.6% 6.9%
Phoenix, AZ $472,000 -0.4% 33.0%
Pittsburgh, PA $168,500 0.8% 9.6%
Portland, OR $546,500 -0.7% 15.9%
Providence, RI $409,400 0.7% 15.6%
Raleigh, NC $408,800 0.7% 32.0%
Richmond, VA $314,700 0.9% 15.3%
Riverside, CA $522,900 0.7% 23.8%
Rochester, NY $199,300 0.5% 18.2%
Sacramento, CA $593,300 -0.8% 16.6%
Salt Lake City, UT $557,500 -1.2% 24.5%
San Antonio, TX $268,200 1.1% 23.9%
San Diego, CA $909,600 -0.4% 20.5%
San Francisco, CA $1,604,200 -2.0% 8.6%
San Jose, CA $1,628,300 -2.2% 19.1%
Seattle, WA $811,500 -2.1% 17.7%
St. Louis, MO $196,800 0.7% 14.0%
Tacoma, WA $538,100 -1.0% 16.9%
Tampa, FL $356,600 1.0% 36.5%
Tucson, AZ $315,000 0.2% 22.1%
Tulsa, OK $174,900 1.6% 15.4%
Virginia Beach, VA $306,000 0.7% 15.3%
Warren, MI $276,500 0.6% 12.1%
Washington, D.C. $513,000 0.3% 11.4%
West Palm Beach, FL $440,000 1.1% 35.1%
Worcester, MA $383,500 0.5% 14.6%
National $417,800 -0.9% 18.2%

Source

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