The list price per square foot is gaining in many areas, rising to $181 in June, according to real estate brokerage Movoto’s national housing report.
The increase in list price per square foot was the most dramatic in Sacramento, where it rose from $91 per square foot in June 2012 to $153 per square foot last month—about a 68 percent increase.
The following cities have seen the largest year-over-year increases (June 2012 to June 2013) in price per square footage:
- Sacramento: $153 (a 68.1 percent year-over-year increase)
- Phoenix: $126 (+44.8% year-over-year)
- Oakland, Calif.: $304 (+37.6% year-over-year)
- Mesa, Ariz.: $118 (+37.2% year-over-year)
- Los Angeles: $435 (+28.3% year-over-year)
- Long Beach, Calif.: $342 (+26.2% year-over-year)
- Las Vegas: $105 (+22.1% year-over-year)
- San Diego: $359 (+20.1% year-over-year)
- Boston: $468 (+19.1% year-over-year)
- Jacksonville, Fla.: $90 (+18.4% year-over-year)
- Atlanta: $148 (+18.4% year-over-year)
The only two cities to see a decrease in price per square foot were Chicago and New Orleans, according to Movoto.
Source: “Increased inventory raises price per square foot,” HousingWire (July 2, 2013)