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Housing market may be making a comeback

Thursday, September 15, 2011

New data released on Wednesday from Realtor.com show that median list prices for single family homes, condominiums, townhouses and co-ops have surged within the last year in Florida, one of the states hit earliest and hardest by the housing market crash.

Among the 146 municipal areas examined by Realtor.com, four out of the five markets with the largest year over year increases in median list price were based in the Sunshine State.

For example, the median list price of single family homes in Fort Meyers and Cape Coral, Fla., was $213,000 in August of 2011, a 33 percent increase from August of 2010 and the biggest increase in the country overall. In second place was Miami, which had a median list price of $249,000 as of August 2011, representing a 24.5 percent increase year over year. Naples, Fla. came in third with a median list price of $359,900 in August of 2011, a 20 percent increase from the previous year. And in spots four and five were Punta Gorda, Fla., and Fort Wayne, Ind., with median list price increases of 13.3 percent and 12.7 percent year over year, respectively.

While the overall number of for sale listings has fallen in the majority of the municipalities that Realtor.com monitors in Florida, the median age of inventory in the state is quite high, at 137 days, according to the report. The median age of inventory nationwide is 103 days as of August 2011.  

Source: MSN.com

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