Check out this chart over at Zillow.
Stan Humphries, Zillow's vice-president of data and analytics, explains:
According to Zillow’s Zindex (median Zestimate or the middle estimated home value), the Red states (pro-Bush) have substantially lower home values than do Blue states (pro-Kerry). Red states had a Zindex of $190,323 vs. a Zindex of $323,952 for the Blue states as of the first quarter of 2007. ... In other words, while Red states were on the winning side of the election, the Blue states are on the winning side in terms of real estate values, and by a substantial amount. ... The correlation between the Zindex and Bush’s share of the popular vote is -58%, indicating that the two measures are fairly inversely related.