What is posted below is from Florida Realtors and it is posted with permission.
The first thing that you will notice is that in each city it states average "list price." Many will argue that this doesn't matter and it's the "selling price" that matters and I agree. But, if the market was still declining as measured by selling price would you expect the listing prices to go up? No. The short answer is that inventory is dropping dramatically, at least in the southwest Florida Naples area market. When the inventory goes down...prices go up. The market is no longer declining
The increase in selling price begins with the increase in listing price. Listing prices increase when there is more confidence. I have many Blog posts that provide great detail about the Naples Bonita Springs Estero and Fort Myers area sales data. Have a look and decide for yourself.
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Home listing prices rising in Florida
ORLANDO, Fla. – Sept. 26, 2011 – Prices are rising in Florida.
Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.
Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.
Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.
1. Miami
Average list price: $640,332
Year-over-year increase: 27.4%
2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%
3. Central-Fla. rural service area
Average list price: $405,809
Year-over-year increase: 19.41%
4. Punta Gorda, Fla.
Average list price: $267,066
Year-over-year increase: 16.37%
5. Macon, Ga.
Average list price: $193,520
Year-over-year increase: 15.98%
6. Sarasota-Bradenton, Fla.
Average list price: $466,785
Year-over-year increase: 15.86%
7. Naples, Fla.
Average list price: $713,087
Year-over-year increase: 15.13%
8. West Palm Beach-Boca Raton, Fla.
Average list price: $591,895
Year-over-year increase: 14.68%
9. Ocala, Fla.
Average list price: $193,360
Year-over-year increase: 12.07%
10. Lakeland-Winter Haven, Fla.
Average list price: $181,409
Year-over-year increase: 11.48%
11. Orlando, Fla.
Average list price: $319,419
Year-over-year increase: 10.56%
12. Portland-Vancouver, Ore.-Wash.
Average list price: $314,537
Year-over-year increase: 10.52%
13. Boise City, Idaho
Average list price: $212,588
Year-over-year increase: 10.43%
14. Springfield, Illinois
Average list price: $174,537
Year-over-year increase: 9.12%
15. Shreveport-Bossier City, La.
Average list price: $211,414
Year-over-year increase: 8.34%
Source: Melissa Dittmann Tracey, Realtor® Magazine Daily News
© 2011 Florida Realtors®
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