Florida

The 10 Most Overpriced Housing Markets in America — 5 Are in Florida – Yahoo Finance

graphiknation / Getty Images/iStockphoto

graphiknation / Getty Images/iStockphoto

The housing market has had many ups and downs over the past five years, running very hot and now entering a much cooler phase, where it’s more difficult to find inventory at good prices and with decent mortgage interest rates. However, there are some areas across the U.S. where the market remains hot, and buyers are still paying much more than homes are actually worth.

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To help buyers make more informed real estate decisions, Florida Atlantic University determined the most overpriced housing markets in the nation by comparing the average expected home values based on historical trends to the average list prices across the 100 largest metro areas and finding the cities with the largest percent differences between the two.

Here’s a look at the 10 most overpriced housing markets in the U.S., ranked from least to most overpriced.

Sean Pavone / Getty Images/iStockphotoSean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

10. Lakeland, Florida

  • Average listing price: $316,291

  • Expected home value: $234,180

  • Difference between home value and list price: 35%

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Kruck20 / iStock.comKruck20 / iStock.com

Kruck20 / iStock.com

9. Orlando, Florida

  • Average listing price: $397,990

  • Expected home value: $294,589

  • Difference between home value and list price: 35%

Discover More: 7 Locations Where Housing Prices Are Plummeting Post-Pandemic

Kruck20 / Getty Images/iStockphotoKruck20 / Getty Images/iStockphoto

Kruck20 / Getty Images/iStockphoto

8. Charlotte, North Carolina

  • Average listing price: $383,796

  • Expected home value: $283,340

  • Difference between home value and list price: 35%

©Shutterstock.com©Shutterstock.com

©Shutterstock.com

7. Palm Bay, Florida

  • Average listing price: $359,114

  • Expected home value: $263,950

  • Difference between home value and list price: 36%

Sean Pavone / Shutterstock.comSean Pavone / Shutterstock.com

Sean Pavone / Shutterstock.com

6. Tampa, Florida

  • Average listing price: $381,936

  • Expected home value: $278,822

  • Difference between home value and list price: 37%

Check Out: Housing Market 2024: 50 Most Affordable Cities for Homebuyers

SeanPavonePhoto / iStock.comSeanPavonePhoto / iStock.com

SeanPavonePhoto / iStock.com

5. Knoxville, Tennessee

  • Average listing price: $342,592

  • Expected home value: $249,316

  • Difference between home value and list price: 37%

mvp64 / Getty Images/iStockphotomvp64 / Getty Images/iStockphoto

mvp64 / Getty Images/iStockphoto

4. Las Vegas

  • Average listing price: $424,147

  • Expected home value: $308,362

  • Difference between home value and list price: 38%

©Shutterstock.com©Shutterstock.com

©Shutterstock.com

3. Cape Coral, Florida

  • Average listing price: $399,339

  • Expected home value: $290,214

  • Difference between home value and list price: 38%

Read Next: I’m a Real Estate Investor: 10 Places I Would Never Buy Property

pawel.gaul / Getty Imagespawel.gaul / Getty Images

pawel.gaul / Getty Images

2. Detroit

  • Average listing price: $252,395

  • Expected home value: $179,282

  • Difference between home value and list price: 41%

Sean Pavone / Getty Images/iStockphotoSean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

1. Atlanta

  • Average listing price: $385,771

  • Expected home value: $273,710

  • Difference between home value and list price: 41%

Jordan Rosenfeld contributed to the reporting for this article.

All data is sourced from Florida Atlantic University’s Top 100 U.S. Housing Markets and is accurate as of April 30, 2024.

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This article originally appeared on GOBankingRates.com: The 10 Most Overpriced Housing Markets in America — 5 Are in Florida

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