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Real Estate Prices on the Increase!!

By
Real Estate Broker/Owner with Warm Weather Real Estate AZ BR558423000

According to REALTOR Magazine, here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices. 

The question is, why more in some areas than in others?  Who is deciding this, the buyer or the seller?

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.-RSA
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. Oralndo, 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%

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

Thank you Melissa for sharing your research with us.  Let's go USA!!!

Bud & Beth McKinney
RE/MAX UNITED - Cary, NC
Cary/Raleigh/Apex NC - The Team That Cares, RE/MAX United

I think I am glad that Cary/Raleigh didn't make the list.  That's a tough one -- good for the owners, bad for the buyers.

Sep 29, 2011 07:49 AM
Bob Marsh
Warm Weather Real Estate - Mesa, AZ
480-529-2936, Warm Weather Real Estate

If prices declined by 100% prior to coming up, these figures are not bad and will eliminate some short sales and thus some foreclosures.  And get the building industry back on its feet a little more.  Come on USA.  We can make this work.  Interest rates as low as they are, these buyers you're worried about should have already bought.  But lots of deals are not happening because owners are under water.

Thanks for your comment though.

Sep 30, 2011 05:23 AM