US Zillow Home Value Index
The rise in home values experienced this past year is nothing short of amazing in many parts of the Country. Entry-level Single Family Homes in Eastlake Trails, a neighborhood in Chula Vista, California which were selling for just under $300,000 this time last year are currently being sold for roughly $415,000. $115,000 in a year? That’s a 38% increase!
So that got me thinking about which areas have experienced the largest jumps in home values. Luckily I have Zillow to do the legwork for me.
Cities with the largest Home Price Increases
| Metro City | Month/Month | Year/Year | Home Value | |
| 10. | Reno, NV | 1.8% | 27.5% | $202,100 |
| 9. | San Francisco, CA | 1.5% | 28.1% | $633,700 |
| 8. | Santa Rosa, CA | 2.2% | 28.2% | $427,500 |
| 7. | Riverside, CA | 3.0% | 29.7% | $241,700 |
| 6. | Las Vegas, NV | 2.8% | 30.6% | $156,600 |
| 5. | Merced, CA | 4.3% | 33.3% | $146,000 |
| 4. | Sacramento, CA | 2.0% | 34.1% | $279,600 |
| 3. | Modesto, CA | 2.9% | 35.0% | $181,400 |
| 2. | Stockton, CA | 3.5% | 35.5% | $205,000 |
| 1. | Vallejo, CA | 3.7% | 40.7% | $267,800 |
It is clear from this list, California has seen the largest year over year increases with Nevada taking two spots. It seems that areas which suffered the most during the housing crash have seen an inverse effect this year.
Notable mentions got to us here locally in San Diego as well as L.A. with year over year increases of 23.7% and 22.8% respectively.
As amazing as these figures are, please don’t think we should worry about a Housing Bubble Forming but be sure to keep an eye out for what is sure to happen over the Holiday months and why I give you 3 Reasons NOT To Buy Real Estate Today.
About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
