Cities Where Home Prices are Actually Falling

In recent years, a number of intertwined economic forces have created one of the worst markets for prospective homebuyers in memory. In an effort to bring down inflationary pressures, the Federal Reserve has hiked interest rates, resulting in higher borrowing costs for mortgage holders. Since September 2022, the average interest on a 30-year fixed-rate mortgage has exceeded 6%, a threshold not previously seen in nearly a decade and a half.

Even more notable than rising mortgage rates has been the staggering surge in home prices. Due in large part to inventory shortages and rising demand during the COVID-19 pandemic, home prices are 50% higher today than they were just five years ago, according to the Case-Shiller U.S. National Home Price Index.

Encouragingly, home prices appear to have plateaued in recent months. Over the last year, the median list price among all homes on the market increased by less than 1%, from $429,950 to $431,250. Additionally, in dozens of cities across the United States, list prices are even coming down — making home ownership in these places more affordable to a larger share of prospective buyers.

Using data from Realtor.com, 24/7 Wall St. identified the cities where home prices are actually falling. Metro areas are ranked on the relative change in median list prices from April 2024 to April 2025, the most recent one-year period of available data. Only metro areas where median list prices are down by at least 7% year-over-year were considered, and metro areas flagged by Realtor.com for possible data quality issues were excluded from analysis. All supplemental data in this story is also from Realtor.com.

Among the 38 cities on this list, home prices have decreased by anywhere from 7% to nearly 10% over the last year. The largest share of these cities — 14 out of 38 — are located in the South, including three each in North Carolina and Texas. Another 11 cities on this list are in the Midwest and 10 are in the West, while only three are located in the Northeast. (Here is a look at the states with the most expensive housing markets.)

Falling prices in these places may be due, at least in part, to the kinds of homes that are being put up for sale. Within any given market, larger homes often command higher prices, and in nearly every city on this list, the typical listed home is smaller than the typical home on the market was a year ago.

It is important to note that, despite recent declines, the median list price in several of these cities is still prohibitively high for a majority of Americans. Of the 38 metro areas on this list, 12 still have a median list price that exceeds the national median. (Here is a look at the least affordable housing market in every state.)

These are the cities where home prices are actually falling.

Why it Matters

Since the start of the COVID-19 pandemic, home prices have surged by 50%. While aggregate prices have not meaningfully increased in recent months, the price of a typical home remains well beyond the budget of most Americans. Still, location matters when it comes to housing markets, and some parts of the country are reporting substantial decreases in home prices. According to Realtor.com, list prices are down by at least 7% in over three dozen American cities.

38. St. George, UT

• 1-year change in median list price: -7.0% (-$48,750)
• Median home list price: $650,000 in April 2025, $698,750 in April 2024
• Median size of a listed home: 2,302 sq. ft. in April 2025, 2,341 sq. ft. in April 2024
• Median time on market for a listed home: 63 days in April 2025, 59 days in April 2024
• Total number of homes for sale: 2,422 in April 2025, 1,870 days in April 2024

37. Kalamazoo-Portage, MI

• 1-year change in median list price: -7.0% (-$26,225)
• Median home list price: $346,225 in April 2025, $372,450 in April 2024
• Median size of a listed home: 1,870 sq. ft. in April 2025, 1,971 sq. ft. in April 2024
• Median time on market for a listed home: 38 days in April 2025, 40 days in April 2024
• Total number of homes for sale: 723 in April 2025, 686 days in April 2024

36. Le Mars, IA

• 1-year change in median list price: -7.1% (-$20,825)
• Median home list price: $271,600 in April 2025, $292,425 in April 2024
• Median size of a listed home: 1,870 sq. ft. in April 2025, 1,988 sq. ft. in April 2024
• Median time on market for a listed home: 44 days in April 2025, 48 days in April 2024
• Total number of homes for sale: 62 in April 2025, 41 days in April 2024

35. Carson City, NV

• 1-year change in median list price: -7.2% (-$39,611)
• Median home list price: $512,500 in April 2025, $552,111 in April 2024
• Median size of a listed home: 1,722 sq. ft. in April 2025, 1,835 sq. ft. in April 2024
• Median time on market for a listed home: 44 days in April 2025, 37 days in April 2024
• Total number of homes for sale: 157 in April 2025, 180 days in April 2024

34. Indiana, PA

• 1-year change in median list price: -7.3% (-$11,275)
• Median home list price: $144,225 in April 2025, $155,500 in April 2024
• Median size of a listed home: 1,559 sq. ft. in April 2025, 1,599 sq. ft. in April 2024
• Median time on market for a listed home: 67 days in April 2025, 51 days in April 2024
• Total number of homes for sale: 167 in April 2025, 164 days in April 2024

33. Cincinnati, OH-KY-IN

• 1-year change in median list price: -7.3% (-$27,275)
• Median home list price: $347,725 in April 2025, $375,000 in April 2024
• Median size of a listed home: 1,711 sq. ft. in April 2025, 1,877 sq. ft. in April 2024
• Median time on market for a listed home: 34 days in April 2025, 32 days in April 2024
• Total number of homes for sale: 6,103 in April 2025, 5,444 days in April 2024

32. Oshkosh-Neenah, WI

• 1-year change in median list price: -7.3% (-$26,150)
• Median home list price: $332,400 in April 2025, $358,550 in April 2024
• Median size of a listed home: 1,747 sq. ft. in April 2025, 1,852 sq. ft. in April 2024
• Median time on market for a listed home: 32 days in April 2025, 27 days in April 2024
• Total number of homes for sale: 352 in April 2025, 369 days in April 2024

31. Huntington, IN

• 1-year change in median list price: -7.3% (-$18,544)
• Median home list price: $234,950 in April 2025, $253,494 in April 2024
• Median size of a listed home: 1,870 sq. ft. in April 2025, 1,875 sq. ft. in April 2024
• Median time on market for a listed home: 44 days in April 2025, 35 days in April 2024
• Total number of homes for sale: 94 in April 2025, 87 days in April 2024

30. Cape Coral-Fort Myers, FL

• 1-year change in median list price: -7.3% (-$34,450)
• Median home list price: $435,000 in April 2025, $469,450 in April 2024
• Median size of a listed home: 1,702 sq. ft. in April 2025, 1,733 sq. ft. in April 2024
• Median time on market for a listed home: 81 days in April 2025, 72 days in April 2024
• Total number of homes for sale: 17,438 in April 2025, 13,464 days in April 2024

29. Amherst Town-Northampton, MA

• 1-year change in median list price: -7.5% (-$41,800)
• Median home list price: $518,700 in April 2025, $560,500 in April 2024
• Median size of a listed home: 1,784 sq. ft. in April 2025, 1,810 sq. ft. in April 2024
• Median time on market for a listed home: 27 days in April 2025, 22 days in April 2024
• Total number of homes for sale: 177 in April 2025, 141 days in April 2024

28. Boone, NC

• 1-year change in median list price: -7.5% (-$52,500)
• Median home list price: $649,500 in April 2025, $702,000 in April 2024
• Median size of a listed home: 1,843 sq. ft. in April 2025, 2,158 sq. ft. in April 2024
• Median time on market for a listed home: 60 days in April 2025, 61 days in April 2024
• Total number of homes for sale: 424 in April 2025, 394 days in April 2024

27. Mountain Home, ID

• 1-year change in median list price: -7.5% (-$30,080)
• Median home list price: $370,470 in April 2025, $400,550 in April 2024
• Median size of a listed home: 1,799 sq. ft. in April 2025, 2,074 sq. ft. in April 2024
• Median time on market for a listed home: 42 days in April 2025, 30 days in April 2024
• Total number of homes for sale: 150 in April 2025, 89 days in April 2024

26. Fort Collins-Loveland, CO

• 1-year change in median list price: -7.6% (-$49,375)
• Median home list price: $600,000 in April 2025, $649,375 in April 2024
• Median size of a listed home: 2,404 sq. ft. in April 2025, 2,562 sq. ft. in April 2024
• Median time on market for a listed home: 37 days in April 2025, 37 days in April 2024
• Total number of homes for sale: 2,112 in April 2025, 1,493 days in April 2024

25. Rockingham, NC

• 1-year change in median list price: -7.7% (-$17,800)
• Median home list price: $214,950 in April 2025, $232,750 in April 2024
• Median size of a listed home: 1,523 sq. ft. in April 2025, 1,686 sq. ft. in April 2024
• Median time on market for a listed home: 60 days in April 2025, 66 days in April 2024
• Total number of homes for sale: 114 in April 2025, 101 days in April 2024

24. Lancaster, PA

• 1-year change in median list price: -7.7% (-$32,500)
• Median home list price: $391,225 in April 2025, $423,725 in April 2024
• Median size of a listed home: 1,914 sq. ft. in April 2025, 1,921 sq. ft. in April 2024
• Median time on market for a listed home: 27 days in April 2025, 29 days in April 2024
• Total number of homes for sale: 990 in April 2025, 883 days in April 2024

23. Harrison, AR

• 1-year change in median list price: -7.7% (-$25,100)
• Median home list price: $299,900 in April 2025, $325,000 in April 2024
• Median size of a listed home: 1,761 sq. ft. in April 2025, 1,925 sq. ft. in April 2024
• Median time on market for a listed home: 74 days in April 2025, 78 days in April 2024
• Total number of homes for sale: 360 in April 2025, 279 days in April 2024

22. Naples-Marco Island, FL

• 1-year change in median list price: -7.7% (-$63,250)
• Median home list price: $754,500 in April 2025, $817,750 in April 2024
• Median size of a listed home: 1,805 sq. ft. in April 2025, 1,802 sq. ft. in April 2024
• Median time on market for a listed home: 81 days in April 2025, 72 days in April 2024
• Total number of homes for sale: 9,757 in April 2025, 7,523 days in April 2024

21. Cedar Rapids, IA

• 1-year change in median list price: -7.8% (-$24,025)
• Median home list price: $285,450 in April 2025, $309,475 in April 2024
• Median size of a listed home: 1,721 sq. ft. in April 2025, 1,814 sq. ft. in April 2024
• Median time on market for a listed home: 48 days in April 2025, 45 days in April 2024
• Total number of homes for sale: 1,229 in April 2025, 1,079 days in April 2024

20. Oak Harbor, WA

• 1-year change in median list price: -7.8% (-$62,964)
• Median home list price: $746,536 in April 2025, $809,500 in April 2024
• Median size of a listed home: 1,886 sq. ft. in April 2025, 2,025 sq. ft. in April 2024
• Median time on market for a listed home: 33 days in April 2025, 26 days in April 2024
• Total number of homes for sale: 410 in April 2025, 347 days in April 2024

19. Laurinburg, NC

• 1-year change in median list price: -7.9% (-$17,180)
• Median home list price: $201,470 in April 2025, $218,650 in April 2024
• Median size of a listed home: 1,682 sq. ft. in April 2025, 1,861 sq. ft. in April 2024
• Median time on market for a listed home: 60 days in April 2025, 58 days in April 2024
• Total number of homes for sale: 128 in April 2025, 60 days in April 2024

18. Worthington, MN

• 1-year change in median list price: -7.9% (-$22,475)
• Median home list price: $262,375 in April 2025, $284,850 in April 2024
• Median size of a listed home: 1,886 sq. ft. in April 2025, 2,034 sq. ft. in April 2024
• Median time on market for a listed home: 76 days in April 2025, 72 days in April 2024
• Total number of homes for sale: 65 in April 2025, 49 days in April 2024

17. McComb, MS

• 1-year change in median list price: -7.9% (-$17,125)
• Median home list price: $198,625 in April 2025, $215,750 in April 2024
• Median size of a listed home: 1,962 sq. ft. in April 2025, 2,167 sq. ft. in April 2024
• Median time on market for a listed home: 89 days in April 2025, 100 days in April 2024
• Total number of homes for sale: 160 in April 2025, 155 days in April 2024

16. Coldwater, MI

• 1-year change in median list price: -8.0% (-$21,150)
• Median home list price: $243,750 in April 2025, $264,900 in April 2024
• Median size of a listed home: 1,527 sq. ft. in April 2025, 1,711 sq. ft. in April 2024
• Median time on market for a listed home: 53 days in April 2025, 55 days in April 2024
• Total number of homes for sale: 156 in April 2025, 145 days in April 2024

15. Cornelia, GA

• 1-year change in median list price: -8.0% (-$34,750)
• Median home list price: $399,000 in April 2025, $433,750 in April 2024
• Median size of a listed home: 2,000 sq. ft. in April 2025, 2,158 sq. ft. in April 2024
• Median time on market for a listed home: 58 days in April 2025, 46 days in April 2024
• Total number of homes for sale: 277 in April 2025, 210 days in April 2024

14. Payson, AZ

• 1-year change in median list price: -8.0% (-$42,375)
• Median home list price: $486,700 in April 2025, $529,075 in April 2024
• Median size of a listed home: 1,667 sq. ft. in April 2025, 1,764 sq. ft. in April 2024
• Median time on market for a listed home: 57 days in April 2025, 62 days in April 2024
• Total number of homes for sale: 510 in April 2025, 406 days in April 2024

13. Victoria, TX

• 1-year change in median list price: -8.0% (-$24,050)
• Median home list price: $274,950 in April 2025, $299,000 in April 2024
• Median size of a listed home: 1,871 sq. ft. in April 2025, 1,934 sq. ft. in April 2024
• Median time on market for a listed home: 69 days in April 2025, 63 days in April 2024
• Total number of homes for sale: 349 in April 2025, 297 days in April 2024

12. Sandusky, OH

• 1-year change in median list price: -8.0% (-$34,733)
• Median home list price: $397,000 in April 2025, $431,733 in April 2024
• Median size of a listed home: 1,610 sq. ft. in April 2025, 1,724 sq. ft. in April 2024
• Median time on market for a listed home: 39 days in April 2025, 53 days in April 2024
• Total number of homes for sale: 472 in April 2025, 437 days in April 2024

11. Enid, OK

• 1-year change in median list price: -8.1% (-$19,000)
• Median home list price: $216,900 in April 2025, $235,900 in April 2024
• Median size of a listed home: 1,894 sq. ft. in April 2025, 1,921 sq. ft. in April 2024
• Median time on market for a listed home: 56 days in April 2025, 68 days in April 2024
• Total number of homes for sale: 270 in April 2025, 274 days in April 2024

10. Mount Pleasant, TX

• 1-year change in median list price: -8.2% (-$24,575)
• Median home list price: $275,000 in April 2025, $299,575 in April 2024
• Median size of a listed home: 1,801 sq. ft. in April 2025, 1,946 sq. ft. in April 2024
• Median time on market for a listed home: 64 days in April 2025, 61 days in April 2024
• Total number of homes for sale: 382 in April 2025, 287 days in April 2024

9. Brookings, OR

• 1-year change in median list price: -8.3% (-$54,225)
• Median home list price: $595,625 in April 2025, $649,850 in April 2024
• Median size of a listed home: 1,724 sq. ft. in April 2025, 1,826 sq. ft. in April 2024
• Median time on market for a listed home: 69 days in April 2025, 69 days in April 2024
• Total number of homes for sale: 202 in April 2025, 179 days in April 2024

8. Wichita, KS

• 1-year change in median list price: -8.5% (-$27,455)
• Median home list price: $297,445 in April 2025, $324,900 in April 2024
• Median size of a listed home: 1,984 sq. ft. in April 2025, 2,069 sq. ft. in April 2024
• Median time on market for a listed home: 45 days in April 2025, 41 days in April 2024
• Total number of homes for sale: 2,660 in April 2025, 2,189 days in April 2024

7. Granbury, TX

• 1-year change in median list price: -8.8% (-$38,275)
• Median home list price: $397,447 in April 2025, $435,722 in April 2024
• Median size of a listed home: 2,000 sq. ft. in April 2025, 2,121 sq. ft. in April 2024
• Median time on market for a listed home: 55 days in April 2025, 50 days in April 2024
• Total number of homes for sale: 831 in April 2025, 635 days in April 2024

6. Santa Fe, NM

• 1-year change in median list price: -9.3% (-$77,000)
• Median home list price: $749,000 in April 2025, $826,000 in April 2024
• Median size of a listed home: 2,137 sq. ft. in April 2025, 2,297 sq. ft. in April 2024
• Median time on market for a listed home: 62 days in April 2025, 62 days in April 2024
• Total number of homes for sale: 841 in April 2025, 672 days in April 2024

5. Clearlake, CA

• 1-year change in median list price: -9.4% (-$40,000)
• Median home list price: $385,000 in April 2025, $425,000 in April 2024
• Median size of a listed home: 1,560 sq. ft. in April 2025, 1,563 sq. ft. in April 2024
• Median time on market for a listed home: 68 days in April 2025, 77 days in April 2024
• Total number of homes for sale: 532 in April 2025, 433 days in April 2024

4. Tullahoma-Manchester, TN

• 1-year change in median list price: -9.4% (-$39,200)
• Median home list price: $376,975 in April 2025, $416,175 in April 2024
• Median size of a listed home: 1,846 sq. ft. in April 2025, 2,047 sq. ft. in April 2024
• Median time on market for a listed home: 70 days in April 2025, 41 days in April 2024
• Total number of homes for sale: 399 in April 2025, 241 days in April 2024

3. Sparta, WI

• 1-year change in median list price: -9.5% (-$30,500)
• Median home list price: $289,450 in April 2025, $319,950 in April 2024
• Median size of a listed home: 1,700 sq. ft. in April 2025, 1,785 sq. ft. in April 2024
• Median time on market for a listed home: 37 days in April 2025, 39 days in April 2024
• Total number of homes for sale: 113 in April 2025, 104 days in April 2024

2. Grand Junction, CO

• 1-year change in median list price: -9.8% (-$51,125)
• Median home list price: $470,750 in April 2025, $521,875 in April 2024
• Median size of a listed home: 1,737 sq. ft. in April 2025, 1,829 sq. ft. in April 2024
• Median time on market for a listed home: 48 days in April 2025, 48 days in April 2024
• Total number of homes for sale: 923 in April 2025, 761 days in April 2024

1. Fairmont, WV

• 1-year change in median list price: -9.9% (-$20,300)
• Median home list price: $184,900 in April 2025, $205,200 in April 2024
• Median size of a listed home: 1,549 sq. ft. in April 2025, 1,702 sq. ft. in April 2024
• Median time on market for a listed home: 38 days in April 2025, 55 days in April 2024
• Total number of homes for sale: 152 in April 2025, 172 days in April 2024

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