Sarasota is Most Expensive Housing Market in Region, Costlier than Austin, Philadelphia and Phoenix

New Coldwell Banker Residential Real Estate Report Finds Sarasota and North Port Ranked Most Expensive and Most Affordable Markets in Region

SARASOTA , FL (November 6, 2013) – Today, Coldwell Banker Real Estate announced its 2013 Home Listing Report, which compares the average home listing price of more than 72,000 four-bedroom, two-bathroom properties listed on coldwellbanker.com between January 2013 and June 2013. 

The study reviewed real estate markets across the country, and found that Sarasota was ranked as the most expensive in the Sarasota/Manatee County region, where the same-sized property costs an average of $346,211. North Port topped the list as the most affordable market in the area, where a four-bedroom, two-bathroom home costs an average of $156,871. The most expensive market in the state of Florida is Doral, where the average cost is $532,754.

Sarasota was the most expensive market listed in Sarasota County, ranking #555 in the national rankings, making it more expensive than Austin, TX (#693), Philadelphia, Pa. (#757) and Phoenix, Ariz. (#851).  Bradenton was the most expensive market in Manatee County, second most expensive in the region and #962 in America ($252,008), followed by Parrish, ranking  #1392 ($198,468).

Key Highlights from the 2013 Coldwell Banker® U.S. Home Listing Report:

“Whether moving for lifestyle or a new job, homebuyers can use the Coldwell Banker® Home Listing Report to compare the average listing prices of similar homes in different parts of the nation,” said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. “As the country moves on from the recession, this year’s report identified 20 markets where a four-bedroom, two-bathroom home costs more than $1 million, whereas in eight markets a similar home lists for less than $100,000.”

·         The average listing price of a four-bedroom, two-bathroom home in the survey of more than 1,900 markets and 52,000 listings was $301,414. 

·         California holds 13 of the top 25 spots for the most expensive markets in the U.S.

·         All top five of the most expensive markets are in The Golden State, with the two most expensive markets in the country located minutes from Los Angeles—Malibu (No. 1) and Newport Beach (No. 2).

·         In contrast, 60 percent (15) of the 25 most affordable markets are in the Midwest.

·         New York is the only state that had markets ranked on both the most expensive and most affordable lists.