Realtor.com: List prices holding steady or posting gains in two-thirds of markets
By Inman News, Wednesday, September 14, 2011.
Among the 146 markets most searched by Realtor.com users, the total number of listings increased from a year ago in only three: Denver, Colo. (up 53.8 percent), El Paso, Texas (up 6.3 percent) and Hartford, Conn. (up 2.2 percent).
Inventories were down by 10 percent or more from a year ago in 118 markets, including declines of nearly 50 percent in Miami, Orlando and Fort Myers.
Shrinking inventories can signal a rise in demand, but may also reflect a slowdown in homes moving through the foreclosure process that restricts the supply of real estate owned (REO) properties.
Top 20 markets for inventory declines
| Market | Listings (August 2011) | Change from year ago | Change from July |
| Miami, Fla. | 14,008 | -47.89% | -3.34% |
| Orlando, Fla. | 11,699 | -45.81% | -3.12% |
| Phoenix-Mesa, Ariz. | 19,971 | -45.29% | -5.75% |
| Boise City, Idaho | 3,390 | -41.60% | -3.58% |
| Fort Myers-Cape Coral, Fla. | 11,470 | -40.99% | -1.22% |
| Savannah, Ga. | 1,550 | -38.17% | -5.32% |
| Lakeland-Winter Haven, Fla. | 3,521 | -38.08% | -3.77% |
| Fort Lauderdale, Fla. | 14,319 | -37.54% | -4.10% |
| Naples, Fla. | 7,372 | -37.08% | -3.48% |
| Bakersfield, Calif. | 3,230 | -36.90% | -3.57% |
| Melbourne-Titusville-Palm Bay, Fla. | 5,340 | -36.81% | -3.46% |
| Daytona Beach, Fla. | 7,772 | -32.68% | -2.22% |
| Oakland, Calif. | 7,696 | -31.88% | -4.51% |
| Ocala, Fla. | 3,424 | -31.41% | -4.45% |
| Sarasota-Bradenton, Fla. | 8,150 | -31.17% | -3.49% |
| Pensacola, Fla. | 4,379 | -30.98% | -1.43% |
| Grand Rapids-Muskegon-Holland, Mich. | 7,631 | -30.87% | -1.49% |
| Fresno, Calif. | 3,858 | -30.65% | -9.79% |
| Portland-Vancouver, Ore.-Wash. | 10,481 | -30.46% | -1.32% |
| Jacksonville, Fla. | 11,579 | -29.77% | -3.09% |
Source: Realtor.com
The nationwide median list price for single-family homes, condominiums, townhouses and co-ops remained at $189,900 in August, unchanged from June and July and up less than 0.5 percent from a year ago.
Median list price was up by 1 percent or more in 64 of the 146 markets tracked, down in 49, and unchanged in the remaining 33 -- a steady improvement over trends reported in June and July.
Declining inventories can provide support for home prices -- median list prices held steady or were up from a year ago in 15 of the 20 markets experiencing the greatest inventory declines in August. Eight of those markets also made the list of 20 markets experiencing the greatest year-over-year increases in median list price.
Top 20 markets for increase in median list price
| Market | Median list price (August 2011) | Change from year ago | Change from July |
| Fort Myers-Cape Coral, Fla. | $213,000 | 33.21% | -2.07% |
| Miami, Fla. | $249,000 | 24.56% | 0.00% |
| Naples, Fla. | $359,900 | 20.01% | -0.03% |
| Punta Gorda, Fla. | $169,900 | 13.34% | -1.35% |
| Fort Wayne, Ind. | $112,700 | 12.70% | 0.00% |
| Sarasota-Bradenton, Fla. | $229,900 | 10.00% | -2.17% |
| Shreveport-Bossier City, La. | $174,900 | 9.38% | 0.00% |
| Daytona Beach, Fla. | $174,990 | 9.37% | 0.28% |
| Lakeland-Winter Haven, Fla. | $129,500 | 8.82% | 0.00% |
| Trenton, N.J. | $264,900 | 8.12% | 0.00% |
| Peoria-Pekin, Ill. | $144,900 | 7.33% | -1.36% |
| Fort Pierce-Port St. Lucie, Fla. | $155,000 | 6.97% | -2.52% |
| Boise City, Idaho | $149,500 | 6.86% | 0.34% |
| Toledo, Ohio | $114,900 | 6.49% | 0.00% |
| Dayton-Springfield, Ohio | $113,625 | 6.19% | 1.00% |
| Oakland, Calif. | $339,000 | 5.94% | -1.74% |
| San Antonio, Texas | $180,000 | 5.94% | 0.06% |
| Springfield, Ill. | $126,950 | 5.88% | 1.56% |
| Washington, D.C.-Md.-Va.-W.Va. | $369,992 | 5.74% | -1.32% |
| Honolulu, Hawaii | $465,000 | 5.68% | 2.42% |
0 comments:
Post a Comment