Median prices of single-family homes and condos stayed the same or decreased in 52% of qualified Opportunity Zones from Q4 2022 to Q1 2023. Almost half fell at least 3%.
This is according to ATTOM’s Q1 2023 Opportunity Zones Report.
Prices increased by at least that much in about 40% of those markets.
In 79% of the zones analyzed, median first-quarter prices were less than the U.S. median of $321,135.
In 55% of those zones, median prices remained less than $200,000.
On a quarterly basis, the states with the greatest portions of opportunity zones where median prices declined or stayed the same were:
- Arizona
- Oregon
- Maryland
- Massachusetts
- Carolina
States where at least half the zones still saw quarterly increases were
- Wisconsin
- Florida
- Kentucky
- Utah
- Georgia
The report also named 10 zones with homes priced below the national average, but that saw prices almost double in the past year. These zones are:
- Delaware, IN (from $21,798 in Q1 2022 to $43,440 in Q1 2203)
- Caroline County, MD (from $86,000 in Q1 2022 to $170,000 in Q1 2023)
- Montgomery County, OH (from $60,000 in Q1 2022 to $117,831 in Q1 2023)
- Jefferson County, AL (from $26,500 in Q1 2022 to $52,000 in Q1 2023)
- Tulsa County, OK (from $117,500 in Q1 2022 to $230,000 in Q1 2023)
- Venango County, PA (from $49,058 in Q1 2022 to $96,000 in Q1 2023)
- Northumberland County, PA (from $18,500 in Q1 2022 to $36,000 in Q1 2023)
- Cook County, IL (from $70,500 in Q1 2022 to $137,000 in Q1 2023)
- Muscogee County, GA (from $55,500 in Q1 2022 to $107,500 in Q1 2023)
- Ross County, OH (from $91,000 in Q1 2022 to $175,194 in Q1 2023)
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