Home prices rose in April, property data reveals

Real estate property records have shown that home sale prices rose in April, with 24 metropolitan areas experiencing an uptick of 16.4 percent from last year.

Real estate property records have shown that home sale prices rose in April, with 24 metropolitan areas experiencing an uptick of 16.4 percent from last year. This statistic comes from the latest ZipRealty Housing Trends Report, which compiled data from MLS. 

The report shows that homes are being sold at an increased pace, at an average of 32 days on the market nationwide. This is a decrease from March, during which homes sold after an average of 48 days after being listed. It also revealed that more new listings went on the market in April of this year than of last, at an uptick of 8 percent. In April 2012, 171,524 homes were newly listed.

"We're seeing sales close quickly - in 32 days on average - at nearly full listing price or 98.9 percent of their asking price," said Lanny Baker, CEO and president of ZipRealty. He went on the note that six cities saw houses sell within two weeks of being on the market and nine metro areas were seeing homes sold at their full listing price or more.

Further increase in home price revealed
Single family new home prices experiencing a statistically significant increase of 14.9 percent from March to April, according to the National Association of Home Builders. This lands the average single family price of homes that are new on the market at $330,800, a higher price than that of existing homes. Existing home prices were sold at $243,000 on average in April 2012.

The median sales price in March was $165,000, RealtyTrac reported, while the median list price was $178,900. These were rises at rates of 1 percent and 6 percent respectively from March 2012. In Florida, the median sales price was at $126,000 in March, a fall of 1 percent since last year. The median foreclosure sales price rose 1 percent from last year to reach $91,000. In Texas, there was a similar drop in the median sales price, but should the nationwide trend of a rise in home prices continue, these regions should see an upswing in those numbers. 

There also was a decrease of homeowners that are underwater, thanks in part to the rising level of home prices, according to USA Today. The number of underwater homeowners dropped to less than 10 million, a new low in the past three years. 



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