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Florida real estate prices have been wrecked by distressed sales and over supply, but a new report shows two Gulf Coast markets are keeping list prices high.
The report, compiled by Coldwell Banker Real Estate LLC, compares the average list price for four-bedroom homes in each Florida submarket to the national average, which is $293,251. By that metric, prices in two Gulf Coast markets are above average: St. Petersburg, where the average list price for a four-bedroom home is $304,010, and Naples, where the average price is $300,309.
The Naples average is roughly 50% higher than in nearby Fort Myers and Cape Coral, where the average price for a four-bedroom home is around $200,000, the report says.
Similarly, homes in Tampa (average price of $234,989) and Clearwater ($250,158) are priced more competitively than in nearby St. Petersburg.
The average list price of a four-bedroom home in Sarasota is $254,402, the report says, about 15% lower than the national average.
Florida's most expensive market by this metric is Palmetto Bay, with an average price of $449,353. The most affordable is Hastings, with an average price of $74,910.
Coldwell Banker's report is based on home listings posted between September 2010 and March 2011. A minimum of 10 listings was required for a market to be included in the rankings.
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