Where Housing Prices Climbed Most During the Pandemic

Homes in suburban and even rural locations were hot commodities on the pandemic real estate market, according to an industry report.

1 minute read

December 21, 2020, 5:00 AM PST

By James Brasuell @CasualBrasuell


New Jersey

SevenMaps / Shutterstock

Marian McPherson shares news of a new report by realtor.com that quantifies the tumultuous year on the real estate market, focusing especially on the locations where prices spiked the most during the pandemic.

"According to realtor.com’s latest market analysis released on Tuesday, the explosion in price growth is happening in suburbs across the country, including little-known metros such as Wayzata, Minnesota, and Brandon, Mississippi," writes McPherson to summarize the report's finding.

"Lakewood, New Jersey topped the list with median home prices increasing a whopping 47.6 percent to $309,000 from October 2019 to October 2020," adds McPherson. Next was Lake Arrowhead, California, were prices increased 45.7 percent. In Lake Arrowhead, the increased prices haven't stopped buys from taking the plunge. The area saw a 47.7 percent sales increase during the same time period.

The location with the third largest increase, according to realtor.com is Gross Pointe, Michigan.

McPherson notes that most of the locations with huge price spikes this year are still relatively cheap—the media price in the majority of locations on the list comes in under $500,000 after the increases.

Tuesday, December 15, 2020 in Inman News

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Redlining map of Oakland and Berkeley.

Rethinking Redlining

For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

May 15, 2025 - Alan Mallach

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 21, 2025 - Diana Ionescu

Interior of Place Versailles mall in Montreal, Canada.

Montreal Mall to Become 6,000 Housing Units

Place Versailles will be transformed into a mixed-use complex over the next 25 years.

May 22, 2025 - CBC

Flat modern glass office tower with "County of Santa Clara" sign.

Santa Clara County Dedicates Over $28M to Affordable Housing

The county is funding over 600 new affordable housing units via revenue from a 2016 bond measure.

May 23 - San Francisco Chronicle

Aerial view of dense urban center with lines indicating smart city concept.

Why a Failed ‘Smart City’ Is Still Relevant

A Google-backed proposal to turn an underused section of Toronto waterfront into a tech hub holds relevant lessons about privacy and data.

May 23 - Governing

Pale yellow Sears kit house with red tile roof in Sylva, North Carolina.

When Sears Pioneered Modular Housing

Kit homes sold in catalogs like Sears and Montgomery Ward made homeownership affordable for midcentury Americans.

May 23 - The Daily Yonder