Out of the four most popular architectural home styles in the country, Mediterranean-style homes command the highest median list price, as they have for the past four years, according to Realtor.com data. But that median list price has only increased by 0.1% since 2012, or less than a thousand dollars, while Modern, Victorian, and Colonial-style houses have all seen price-point gains in the tens of thousands. Modern home prices have seen the largest percentage change in median list price since 2012, at 37%, and the percentage gain across all styles is 25%.
“The relative lack of appreciation of Mediterranean homes likely results from pent-up demand for newer and more versatile styles,” says Javier Vivas of Realtor.com. “These other styles have attracted more eyes and fiercer competition, particularly since the recovery.”
The Mediterranean style was once wildly popular, according to The Wall Street Journal’s Gabrielle Paluch. 67% of Mediterranean-style homes on the market today were built between 1990 and 2009.