It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.
The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited housing supply that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.
Stacker compiled a list of cities with the fastest-growing home prices in the California-Lexington Park, MD metro area using data from Zillow. Cities are ranked by 1-year price change as of September 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. All 22 cities and towns with data available were included in the list.
22. Bushwood
- 1-year price change: +$14,129 (+4.4%)- 5-year price change: +$87,671 (+35.4%)- Typical home value: $335,463 (#20 most expensive city in metro)
21. Chaptico
- 1-year price change: +$14,602 (+5.2%)- 5-year price change: +$73,893 (+33.2%)- Typical home value: $296,221 (#22 most expensive city in metro)
20. Clements
- 1-year price change: +$19,810 (+5.1%)- 5-year price change: +$104,349 (+34.7%)- Typical home value: $404,673 (#11 most expensive city in metro)
19. Avenue
- 1-year price change: +$22,371 (+6.1%)- 5-year price change: +$98,716 (+34.1%)- Typical home value: $388,241 (#14 most expensive city in metro)
18. Coltons Point
- 1-year price change: +$22,499 (+6.2%)- 5-year price change: +$106,889 (+38.6%)- Typical home value: $383,552 (#15 most expensive city in metro)
17. Abell
- 1-year price change: +$25,345 (+6.4%)- 5-year price change: +$113,053 (+37.0%)- Typical home value: $418,370 (#10 most expensive city in metro)
16. Great Mills
- 1-year price change: +$25,877 (+8.4%)- 5-year price change: +$96,511 (+40.4%)- Typical home value: $335,432 (#21 most expensive city in metro)
15. Lexington Park
- 1-year price change: +$27,550 (+8.7%)- 5-year price change: +$99,255 (+40.7%)- Typical home value: $343,053 (#19 most expensive city in metro)
14. California
- 1-year price change: +$27,677 (+8.5%)- 5-year price change: +$94,288 (+36.3%)- Typical home value: $353,833 (#18 most expensive city in metro)
13. Valley Lee
- 1-year price change: +$29,112 (+7.4%)- 5-year price change: +$107,149 (+33.8%)- Typical home value: $424,058 (#9 most expensive city in metro)
12. Mechanicsville
- 1-year price change: +$29,145 (+8.0%)- 5-year price change: +$106,722 (+37.0%)- Typical home value: $395,215 (#13 most expensive city in metro)
11. Callaway
- 1-year price change: +$30,947 (+8.4%)- 5-year price change: +$111,825 (+39.2%)- Typical home value: $397,399 (#12 most expensive city in metro)
10. Hollywood
- 1-year price change: +$33,869 (+8.2%)- 5-year price change: +$118,851 (+36.0%)- Typical home value: $448,638 (#5 most expensive city in metro)
9. Leonardtown
- 1-year price change: +$34,302 (+7.8%)- 5-year price change: +$126,037 (+36.4%)- Typical home value: $472,204 (#4 most expensive city in metro)
8. Drayden
- 1-year price change: +$35,997 (+7.8%)- 5-year price change: +$118,944 (+31.5%)- Typical home value: $496,215 (#2 most expensive city in metro)
7. Park Hall
- 1-year price change: +$36,303 (+10.6%)- 5-year price change: +$109,142 (+40.3%)- Typical home value: $380,233 (#16 most expensive city in metro)
6. Piney Point
- 1-year price change: +$37,010 (+9.4%)- 5-year price change: +$109,477 (+34.0%)- Typical home value: $431,163 (#7 most expensive city in metro)
5. Ridge
- 1-year price change: +$39,366 (+10.0%)- 5-year price change: +$116,632 (+36.9%)- Typical home value: $432,584 (#6 most expensive city in metro)
4. Tall Timbers
- 1-year price change: +$39,403 (+8.9%)- 5-year price change: +$128,594 (+36.4%)- Typical home value: $481,877 (#3 most expensive city in metro)
3. Scotland
- 1-year price change: +$39,997 (+11.8%)- 5-year price change: +$94,642 (+33.3%)- Typical home value: $379,209 (#17 most expensive city in metro)
2. Saint Inigoes
- 1-year price change: +$40,723 (+10.5%)- 5-year price change: +$118,287 (+37.9%)- Typical home value: $430,064 (#8 most expensive city in metro)
1. Dameron
- 1-year price change: +$42,088 (+9.2%)- 5-year price change: +$106,325 (+27.0%)- Typical home value: $500,672 (#1 most expensive city in metro)