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| Lanny Baker |
EMERYVILLE, CA –
ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online
residential real estate brokerage and provider of technology and marketing
solutions, has released a new report showing that median home sales prices were
up 6.1% year-over-year in April 2014.
However, that mid-single digit increase represents a sharp
deceleration compared to last year, when the average home sales price increased
at a pace of 16.4% for April year-over-year. The median sales price in
ZipRealty’s 24 metros stood at $277,627 in April 2014.
The big leaders in median home price growth were:
Sacramento – 20%
Las Vegas – 17%
Orlando and Los Angeles – 13%
Chicago – 10%
Portland, Ore. – 9%
“Overall, the supply of for sale housing inventory in the
markets analyzed by ZipRealty is up 1% year-over-year as of the end of April,
and yet we’re seeing much bigger increases in inventory in several attractive
markets, such as Phoenix, Sacramento, San Diego, Orange County and Las Vegas,”
said ZipRealty CEO Lanny Baker.
“This is encouraging news, considering that housing
inventory in these western markets was so much tighter last year and made
things difficult for home buyers who faced few options in a red- hot seller’s
market.
"Hopefully, these new for sale inventory opportunities will enable more
buyers to jump off the sidelines and back onto the playing field this spring.”
Inventory grew in the following markets year-over-year as of
the end of April:
Phoenix – 55%
Sacramento – 42%
San Diego – 38%
Orange County – 27%
Las Vegas – 26%
For a complete copy of the company’s news release, please
contact:
Stacey Corso
510.735.2667
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