The 10 US Cities That Had The Largest Spike In Home Prices

Written by Paul Sacca on October 29, 2021

e 10 cities that have seen their home prices rise the most over the last two years, measured in terms of both absolute dollar amounts and percentage growth.

The real estate market has been booming in 2021. Home prices in August were up nearly 20%, according to data from S&P CoreLogic Case-Shiller. There were certain cities where house prices exploded in August compared to the previous year.

Phoenix experienced the largest surge in August as home prices were up a whopping 33.3% compared to the same time last year. San Diego house prices spiked 26.2% in August, and Tampa was a close third with a 25.9% increase.

Rounding out the top 10 cities that had the largest spike in home prices:

Seattle, Washington – 24.3%
Miami, Florida – 23.8%
Las Vegas, Nevada – 23.8%
Charlotte, North Carolina – 21.7%
Denver, Colorado – 21.5%
San Francisco, California – 21.2%
Atlanta, Georgia – 20.2%

Regionally, prices were strongest in the Southwest – up 24.1% year-over-year, according to the data.

“The U.S. housing market showed continuing strength in August 2021,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P DJI. “Every one of our city and composite indices stands at its all-time high, and year-over-year price growth continues to be very strong, although moderating somewhat from last month’s levels.”

Forbes released the 10 U.S. cities that have seen their home prices rise the most over the last two years by utilizing data from Redfin.

Bellevue, Washington
Fremont, California
Scottsdale, Arizona
San Jose, California
Rochester, New York
Pembroke Pines, Florida
Glendale, California
Worcester, Massachusetts
Boise, Idaho
Palmdale, California

Most Expensive Cities

If you’re wondering what the top 10 cities with the most expensive medium home prices are, wonder no more. Kiplinger released the list of the cities with the highest average home prices, and California dominates the list of pricey locations.

Manhattan, New York – Average home price: $2,404,750
San Francisco, California – Average home price: $1,394,651
Honolulu, Hawaii – Average home price: $1,388,889
Brooklyn, New York – Average home price: $1,258,150
Arlington, Virginia – Average home price: $950,969
San Diego, California – Average home price: $905,750
Los Angeles, California – Average home price: $904,318
Alexandria, Virginia – Average home price: $895,571
Oakland, California – Average home price: $843,314
Queens, New York – Average home price: $839,166

The median U.S. home price surpassed $400,000 for the first time ever, according to data from the St. Louis Federal Reserve. The median home price in the United States rose to a record $404,700, up 13% compared to the third quarter of 2020 when the median sales price was $358,700.