EMERYVILLE, CA—ZipRealty, Inc., the leading online technology-enabled residential real estate brokerage company, says the median home sales price jumped 11% last year to $211,312. The company's ZipRealty Home Price Report, is based upon authoritative transactional and MLS data in 33 major metros. In 2011, the median home sale price was $190,000, according to data released by ZipRealty.
While a recent report on existing home sales issued this week by the National Association of Realtors (NAR) found that home prices increased an average of 6.3% nationwide, ZipRealty found that in the 33 markets they and their Powered by Zip partners serve, home sale prices increased an average of 11%. According to ZipRealty's data, Phoenix, Miami and Palm Beach, Fla., showed the largest increases in home prices on a year-over-year basis.
Phoenix prices increased 29% from $112,329 to $145,500; Miami prices jumped 23% from $126,000 to $155,000; and Palm Beach housing prices rose 16% from $125,000 to $145,000 last year. Chicago home prices dipped 3% from $165,000 to $160,000 at year's end; prices in Long Island's Nassau and Suffolk counties in New York remain unchanged at $350,000; and Brooklyn, N.Y. home prices grew nominally from $420,500 to $421,000, according to ZipRealty data.
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