Western Metro Areas Among markets with fastest dropping median list prices

Among the 10 markets with the fastest-dropping median list prices, Western metro areas prevailed, accounting for six among the top 10.

Santa Barbara-Santa Maria-Lompoc, Calif., saw the biggest price decline: down 26.2 percent to $498,250. The market was also one of two to see its inventory rise year-over-year, by 6 percent. The other was Reno, Nev., with a 9.5 percent increase.

  Median List Prices    Median Age of Inventory
  $ % yr.-over-yr. change     # days on site % yr.-over-yr. change   
United States $191,900 -4% 95 13.1%
         
Santa Barbara-Santa Maria-Lompoc, Calif. $498,250 -26.2% 75 2.7%
Detroit $89,900 -18.2% 62 72.2%
Fresno, Calif. $160,000 -15.3% 59 3.5%
Reno, Nev. $170,000 -14.6% 96 7.9%
Atlanta $159,900 -13.6% 81 3.8%
Los Angeles-Long Beach $325,000 -12.2% 61 -1.6%
Tucson, Ariz. $175,000 -11.8% 88 12.8%
Savannah, Ga. $210,000 -11.7% 198 -11.2%
Chicago $212,000 -11.3% 102 15.9%
Seattle-Bellevue-Everett $309,900 -11.2% 70 16.7%

Source: Realtor.com

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