Real Estate Market News: Florida leads nation with gains in home listing prices
Florida cities dominated the top ten list of the largest listing price gains for the one year period December 2010 through December 2011, according to data released in January 2012 by Realtor.com. With over four million property listings online, Realtor.com reportedly looked at data from 146 metro areas across America. Seven Florida cities are on this top 10 list, with gains in listing prices ranging from +16% to +32.5%, far above the US national median list price gain of +5.03%. Take a look at Realtor.com’s top ten list further below (median list price is for residential real estate in the categories of single family homes, condominiums, townhouses and co-ops).
The city in the top spot of listing price gains is Miami with a 32.5% rise in median listing price. This compares to the nationwide median list price gain of 5.03% during the one year period December 2010 through December 2011, as indicated by Realtor.com’s data. Helping bolster the Miami market are Brazilians (watch CNN video below).
The source of Realtor.com’s data is MLSs across the nation (over 933 Multiple Listing Services feed listings data to Realtor.com).
1. Miami, Florida
Up 32.50%
Median list price: $265,000
2. Naples, Florida
Up: 21.67%
Median list price: $365,000
3. Fort Myers-Cape Coral, Florida
Up: 21.47%
Median list price: $229,375
4. Punta Gorda, Florida
Up: 19.42%
Median list price: $179,000
5. Boise City, Idaho
Up: 19.25%
Median list price: $154,900
6. West Palm Beach-Boca Raton, Florida
Up: 18.38%
Median list price: $219,000
7. Sarasota-Bradenton, Florida
Up: 17.62%
Median list price: $241,000
8. Daytona Beach, Florida
Up:16.06%
Median list price: $179,900
9. Phoenix-Mesa, Arizona
Up: 13.79%
Median list price: $165,000
10. Grand Rapids-Muskegon-Holland, Michigan
Up: 13.32%
Median list price: $137,000
For the Jacksonville, Florida area, Realtor.com’s data indicates the median listing price at $184,775 in December 2011, a year-over-year listing price gain of 2.71%. Note that all data above is for listing prices (not closed sales data). See the complete nationwide data report for the year December 2010 to December 2011 released January 10, 2012 at Realtor.com
After years of bad news on the real estate front, it appears weary Florida property owners have some positive news to digest. It’s no secret that the southern beach state has been one of the hardest hit real estate markets in the USA during the housing crisis. Has the tide finally turned? A recovery scenario would surely be welcomed, and would make plenty of Floridians feel a bit more optimistic in 2012. Could market bottom prices finally be in the rear view mirror?
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