3 U.S. Cities Where Home Prices are Rising – and 3 Where They’re Dipping

Home prices rose slightly in March 2024 across much of the U.S., according to the RE/MAX National Housing Report. Though not all markets saw an increase, the median sales price for the report’s 50 metro areas surveyed – $415,000 – was 1.5% higher than in February and 5.1% higher than in March of last year.

The uptick aligns with a typical annual trend. The warm weather of springtime causes a stir in local markets nationwide, inspiring sellers to list and buyers to hunt. For sellers, spring is a great time to showcase their home in its best light (hello, green grass and blooming flowers!), while the season benefits buyers, too, as they often have more inventory on market – and more options to choose from.

It’s evident that the 2024 springtime housing frenzy is getting underway. The report found that new listings rose 20.9% from February to March – and even more inventory could be on the way. Check out a RE/MAX analysis on when the best weeks to shop for a home could be!

Take a look at a few locations in which home prices went up – and some others where they’ve dipped a bit:

Markets with the largest annual increase in median sales price

Manchester, New Hampshire
Home prices were up 14.5% in the Manchester area compared to March 2023. The median sales price for this metro was $479,900, and listings spent an average of 30 days on market before selling.

New York, New York
Home prices were up 14% in New York City compared to March 2023. The median sales price for this metro was $570,000, and listings spent an average of 54 days on market before selling.

Hartford, Connecticut
Home prices were up 13.5% in Hartford metro area compared to March 2023. The median sales price for this metro was $334,950, and listings spent an average of 24 days on market before selling.

Markets with the largest annual decrease in median sales price

San Antonio, Texas
Home prices were down 4.4% in the San Antonio metro area compared to March 2023. The median sales price for this metro was $311,500, and listings spent an average of 76 days on market before selling.

Burlington, Vermont
Home prices were down 4.3% in the Burlington area compared to March 2023. The median sales price for this metro was $390,000, and listings spent an average of 30 days on market before selling.

Fayetteville, Arkansas
Home prices were down 2.9% in Fayetteville compared to March 2023. The median sales price for this metro was $340,000, and houses spent an average of 79 days on market before selling.

Ready to buy or sell a home? No matter where you’re located, it’s helpful to work with a real estate professional who can provide expert guidance to get the job done. Contact a local RE/MAX agent today.

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