The price per square foot of housing shrank in 21 of 25 metro areas year-over-year in January, according to a report released today by real estate research and data company Radar Logic, with double-digit percentage declines in nine market areas.

The price-per-square foot of homes in Sacramento, Calif., dropped 27.8 percent year-over-year in January, according to Radar Logic’s data tracked during a 28-day period in January.

Las Vegas was second in its rate of decline with a 25.4 percent year-over-year drop in the price per square foot, followed by San Diego, down 21.2 percent; Los Angeles, down 16.6 percent; and Tampa, Fla., down 14.6 percent.

Charlotte, N.C., had a 3.9 percent gain in the price per square foot. New York City was the only other market tracked by Radar Logic to experience a year-over-year gain in January, at 2 percent.

Seattle has led among metro areas tracked by Radar Logic for its 6 percent annualized gain in home prices over the past two years, while Miami has led over the past five years. Sacramento, meanwhile, has shown the largest two-year annualized decline and Detroit has shown the largest five-year decline.

Radar Logic RPX Monthly Housing Market Report, January 2007-January 2008

Metro area

% change price per sq. ft.

Charlotte, N.C.


New York, N.Y.


Milwaukee, Wis.


Philadelphia, Pa.


Seattle, Wash.


Columbus, Ohio


St. Louis, Mo.


Chicago, Ill.


Jacksonville, Fla.


Cleveland, Ohio


Minneapolis, Minn.


Washington, D.C.


San Jose, Calif.


Boston, Mass.


Denver, Colo.


Atlanta, Ga.


Detroit, Mich.


San Francisco, Calif.


Miami, Fla.


Phoenix, Ariz.


Tampa, Fla.


Los Angeles, Calif.


San Diego, Calif.


Las Vegas, Nev.


Sacramento, Calif.


Source: Radar Logic RPX Monthly Housing Market Report.


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