In a striking trend, home prices in several U.S. counties have taken a significant dive, with some areas seeing drops of more than $500,000, according to current Realtor.com® data.
“The markets that have seen the biggest swings in home prices over the last year generally fall into one or both of two categories,” Hannah Jones, senior economic research analyst at Realtor.com says.
“Either the median listing price is very high, so a large dollar swing is not so significant on a percent-change basis, and/or the market is seeing a shift in the mix of inventory available.”
Jones says many of these markets—especially in the Mountain West—saw strong demand during the pandemic, which squeezed inventory levels and drove prices higher.
“As inventory continues to recover, home prices may soften as upward price pressure eases and more lower-priced inventory comes onto the market,” she says.
Realtor.com economists identified the top counties in the country where median list prices have plummeted as much as $525,000 year over year. What the list reveals are counties that contain several popular cities attracting luxury buyers.
Pitkin County, CO
Median listing price February 2026: $3,212,000
Median listing price February 2025: $3,737,500
Price difference: $525,500
Price decline: -14.1%
This county is home to Colorado’s luxury ski hubs of Aspen and Snowmass Village. In addition to a wealth of outdoor activities—ranging from skiing to fly-fishing and whitewater rafting—the area offers exceptional shopping and dining, along with a thriving arts scene.
“The $525,000 decrease in median listing price translates to a 14.1% decrease,” says Jones. “Though this is a significant change, it is not quite as eye-popping as the dollar amount initially seems.”
Garfield County, CO
Median listing price February 2026: $767,500
Median listing price February 2025: $1,178,748
Price difference: $411,248
Price decline: -34.9%
Carbondale—a small arts-forward town at the base of Mount Sopris—is the most recognizable town in the county. It’s become increasingly popular as a more affordable alternative to Aspen just up the valley.
San Miguel County, CO
Median listing price February 2026: $3,370,000
Median listing price February 2025: $3,700,000
Price difference: $330,000
Price decline: -8.9%
Posh ski villages Telluride and Mountain Village account for almost all of San Miguel County’s high-end property value. Together, they form one of Colorado’s most exclusive mountain resort markets, combining a historic Victorian downtown with modern ski-in/ski-out luxury amenities.
Summit County, UT
Median listing price February 2026: $1,724,500
Median listing price February 2025: $2,033,750
Price difference: $309,250
Price decline: -15.2%
Summit County’s anchor is Park City, a mountain town known for the Sundance Film Festival and two major ski resorts, Park City Mountain and Deer Valley.
Dukes County, MA
Median listing price February 2026: $2,277,500
Median listing price February 2025: $2,550,000
Price difference: $272,500
Price decline: -10.7%
Martha’s Vineyard makes up nearly all of Dukes County—an island off the Massachusetts coast known for its weathered shingled cottages, yacht-filled harbors, and a summer population that reads like a who’s who list.
Custer County, ID
Median listing price February 2026: $330,000
Median listing price February 2025: $592,500
Price difference: $262,500
Price decline: -44.3%
The most popular town in Custer County is Stanley—a destination for rafting the Salmon River, fishing, hiking, and access to the Sawtooth National Recreation Area
Santa Barbara County, CA
Median listing price February 2026: $1,845,000
Median listing price February 2025: $2,101,750
Price difference: $256,750
Price decline: -12.2%
Santa Barbara County stretches along the Southern California coast between Los Angeles and San Luis Obispo, encompassing the city of Santa Barbara, the wine country of the Santa Ynez Valley, and the celebrity enclave of Montecito.
Napa County, CA
Median listing price February 2026: $1,249,500
Median listing price February 2025: $1,497,000
Price difference: $247,500
Price decline: -16.5%
Napa County is anchored by the city of Napa and the string of wine towns along Highway 29—St. Helena, Yountville, Calistoga—that together make up one of the most famous wine regions in the world.
Nantucket County, MA
Median listing price February 2026: $4,262,500
Median listing price February 2025: $4,498,750
Price difference: $236,250
Price decline: -5.3%
Nantucket County is essentially the island of Nantucket itself—a former whaling capital off the coast of Massachusetts that has become one of the most exclusive summer destinations in the country.
Washington County, AL
Median listing price February 2026: $335,750
Median listing price February 2025: $550,000
Price difference: $214,250
Price decline: -39%
The affordable, agricultural Washington County is a rural, heavily forested county in southwestern Alabama along the Tombigbee River, far removed from the state’s more populated centers.