ChoiceOne Real Estate Blog

Cities with the most overpriced properties
December 8th, 2009 12:35 PM


Despite having no luck selling their properties, homeowners in some parts of the country have clung tenaciously to their notions of the value of their homes.

Forbes magazine ranked markets it considered the most overpriced based on the ratio of the median initial list prices compared to the median list prices at the time the properties actually sold. It also factored in how long the properties stay on the market.

In addition, the magazine considered expert forecasts of price increases in the areas, which could be what encourages homeowners to price high.

The top 10 areas where Forbes found the most over-priced properties were:

1. Orlando
2. Miami-Fort Lauderdale-Pompano Beach
3. Jacksonville, Fla.
4. Baltimore-Towson
5. Chicago-Naperville-Joliet
6. San Antonio, Texas
7. Denver-Aurora
8. Tampa-St. Petersburg-Clearwater
9. Indianapolis-Carmel
10. Austin-Round Rock

Source: Forbes, Francesca Levy (12/03/2009)

© Copyright 2009 INFORMATION, INC. Bethesda, MD (301) 215-4688
Posted by Marcos Fullana on December 8th, 2009 12:35 PMPost a Comment (0)

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