According to data released by Realtor.com, the nationwide median list price for single family homes, condos, townhouses and co-ops remained at $189,900 in August, the same as in July and essentially unchanged from a year ago. The apparent year-over-year stability in median list price masks the decline that began in August 2010–when the impact of the homeowner tax credit effectively came to an end—and continued through the end of February 2011. While median list prices rebounded in March and April of 2011, erasing previous declines, it has remained effectively flat for the past five months.
Median list prices in Florida increased between 1.81% and 33.21% on a year-over-year basis in 19 of the 25 Florida markets and seven of these markets had increases of 9% or more. Only four Florida markets registered a net decline in median list prices compared to August 2010.
Florida Markets with the Largest Year-over-year Increases in Median List Price
• Fort Myers-Cape Coral: 33.21%
• Miami: 24.56%
• Naples: 20.01%
• Punta Gorda: 13.34%
• Sarasota-Bradenton: 10.00%
The number of for sale listings in Florida fell with declines ranging from a low of 18.21% in Tallahassee to a high of 47.89% in Miami. Despite these large declines in the number of properties on the market, the age of the inventory remained relatively high, ranging from a low of 84 days in Orlando to 209 days in South Florida RSA.
Florida Markets with the Largest Year-over-year Decreases in For Sale Inventory
• Miami: -47.89%
• Orlando: -45.81%
• Fort Myers-Cape Coral: -40.99%
• Lakeland-Winter Haven: -38.08%
• Fort Lauderdale: -37.54%
Median list prices in Florida increased between 1.81% and 33.21% on a year-over-year basis in 19 of the 25 Florida markets and seven of these markets had increases of 9% or more. Only four Florida markets registered a net decline in median list prices compared to August 2010.
Florida Markets with the Largest Year-over-year Increases in Median List Price
• Fort Myers-Cape Coral: 33.21%
• Miami: 24.56%
• Naples: 20.01%
• Punta Gorda: 13.34%
• Sarasota-Bradenton: 10.00%
The number of for sale listings in Florida fell with declines ranging from a low of 18.21% in Tallahassee to a high of 47.89% in Miami. Despite these large declines in the number of properties on the market, the age of the inventory remained relatively high, ranging from a low of 84 days in Orlando to 209 days in South Florida RSA.
Florida Markets with the Largest Year-over-year Decreases in For Sale Inventory
• Miami: -47.89%
• Orlando: -45.81%
• Fort Myers-Cape Coral: -40.99%
• Lakeland-Winter Haven: -38.08%
• Fort Lauderdale: -37.54%