The 10 Most Overpriced Housing Markets in America — 5 Are in Florida – Yahoo Finance
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.
10. Lakeland, Florida
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Average listing price: $316,291
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Expected home value: $234,180
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Difference between home value and list price: 35%
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9. Orlando, Florida
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Average listing price: $397,990
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Expected home value: $294,589
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Difference between home value and list price: 35%
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8. Charlotte, North Carolina
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Average listing price: $383,796
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Expected home value: $283,340
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Difference between home value and list price: 35%
7. Palm Bay, Florida
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Average listing price: $359,114
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Expected home value: $263,950
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Difference between home value and list price: 36%
6. Tampa, Florida
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Average listing price: $381,936
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Expected home value: $278,822
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Difference between home value and list price: 37%
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5. Knoxville, Tennessee
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Average listing price: $342,592
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Expected home value: $249,316
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Difference between home value and list price: 37%
4. Las Vegas
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Average listing price: $424,147
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Expected home value: $308,362
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Difference between home value and list price: 38%
3. Cape Coral, Florida
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Average listing price: $399,339
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Expected home value: $290,214
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Difference between home value and list price: 38%
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2. Detroit
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Average listing price: $252,395
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Expected home value: $179,282
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Difference between home value and list price: 41%
1. Atlanta
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Average listing price: $385,771
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Expected home value: $273,710
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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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