DETROIT, MI –Detroit joined Santa Barbara, Calif. and Reno, Nev. as markets that led the nation's continued housing recovery, according to Realtor.com's Turnaround Towns report for the third quarter of this year.

The median listing price for the Detroit market was up 44.3 percent year-over-year in third quarter. During the same period, Reno’s median listing price increased 28.2, percent while Santa Barbara’s media listing price climbed 27.1 percent.

While Detroit’s listing prices were rising, the amount of homes for sale shrank, with inventory dropping 24.5 percent year-over-year in the third quarter.

From Realtor.com:

Home selling prices in the Detroit area

have been climbing at a strong, double-digit annual rate

since last March according to Realcomp, the Multiple Listing Service for Southeast Michigan. The median selling price in the four-county Metro Detroit region has rose by as much as 50 percent year-over-year in recent months, though many reports indicate that the market’s growth will soon level off.

In any case, home prices are still extremely low in the city of Detroit, specifically. According to Realcom, the median selling price for homes in the city of Detroit, Hamtramck and Highland Park was a mere $13,000 in September.

David Muller is the business reporter for MLive Media Group in Detroit. Email him at dmuller@mlive.com or follow him on Twitter or Facebook.