Home Sales Price Growth Starting to Trend Upward, According to New ZipRealty Report
(Thomson Reuters ONE Via Acquire Media NewsEdge)
FOR IMMEDIATE RELEASE
Media Contact: Stacey Corso
Median sales prices increased more than 1% from December 2013 to January 2014.
EMERYVILLE, Calif., March 5, 2014 - In the housing markets covered by ZipRealty,
Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online residential
real estate brokerage and provider of technology and marketing solutions, there
were some signs of improvement at the end of January after a soft start to
2014. According to ZipRealty's new Housing Trends Report, median sales price
growth increased more than an entire percentage point to 12.5% during the month
of January year-over-year in the 24 metros covered by ZipRealty. The median
sales price as of the end of January 2014 was nearly $260,000. In December
2013, annual median home sales price growth was 11.4%.
The West led the nation in median home sales price growth for most of 2013, and
continued to outperform other metros surveyed by ZipRealty on an annual basis
heading into 2014. The leaders were:
1. Sacramento, where prices increased 28%.
2. Las Vegas, where prices jumped 24%.
3. Los Angeles, where prices increased 23%.
4. The SF Bay Area, which grew 21%.
5. Orange County, where prices jumped 17%.
Housing inventory in the metros studied by ZipRealty remained in negative
territory year-over-year at (7%) as of the end of January. The metros with the
biggest annual inventory shortages include:
1. Chicago (25%)
2. Houston (23%)
3. Boston (21%)
4. Dallas (21%)
5. Austin and Long Island (17%)
"While median days on market for all homes in the ZipRealty report declined on
an annual basis, the amount of time homes are staying on the market appears to
be trending back upward," added Mr. Baker. The median days on market for homes
included in the study as of January 31, 2014 was 46, compared to 49 during the
same time period in 2013, a 6% decrease.
About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of
proprietary technology and comprehensive online marketing tools for the
residential real estate brokerage industry. For home buyers and sellers who
increasingly want control, choice and a seamless, customized service, ZipRealty
offers Internet-enabled, state-of-the-art technology and complete access to
accurate, timely information via their website and mobile applications, which
real estate professionals can combine with their own local knowledge and
personal expertise to offer an exceptional start-to-finish client experience.
For real estate professionals who seek more productive ways to conduct business,
ZipRealty provides technology and online marketing tools to enhance their online
sales channel, including lead generation, conversion and service of their
clients. ZipRealty's technology and online marketing products serve its full-
service, owned-and-operated residential real estate brokerage business in 19
markets nationwide, as well as its Powered by Zip network of leading third-party
local brokerages in 20 markets.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ZipRealty via GlobeNewswire
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