The Top Florida Metros Where Homes Are Fetching Less Than Asking Price

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It's no secret that over the past couple of years, Florida home values have risen substantially. In fact, in December of 2023, Florida was named the second most valuable housing market in America, behind New York.

However, an analysis by the website Stacker indicates that some Florida metros are receiving lower offers than the asking price. As part of its analysis, Stacker looked at data from Redfin in November of 2023 to determine the American markets where homes were fetching less than the asking price.

Florida's Current Real Estate Landscape: Before I list the Florida metros that were highest on the list, let's look at the state of Florida real estate in December of 2023 per Redfin (the latest information available.) That figure is $403,500.

The Top Florida Metros For Homes Fetching Less Than Asking Price: No Florida metros showed up in the top 3. Those honors went to Jackson, Mississippi, Youngstown, Ohio, and New Orleans, Louisiana.

However, Florida's top metro ended up at number 4. Here are Florida's top 3 metros and interestingly enough, they are not all in South Florida.

West Palm Beach: This city in south Florida saw its home sell for 4.11% lower than the asking price in November of 2023 at a median of sale price of $460,000.

The current mean price of homes in West Palm Beach according to Redfin is $395,000. AreaVibes gives West Palm Beach a score of 80 out of 100. Its lowest scores are in crime and employment while its highest scores are in user ratings and commute.

Naples: Also in South Florida, this city had homes selling around 4.02% lower than asking, with a median price of $601,000 in November. Redfin currently lists the median home price as $800,000 as of this writing.

Naples gets a livability score of 79, with its highest scores being in health and safety and crime and the lowest being in cost of living.

Panama City: Unlike the above two cities, Panama City is actually in North Florida, in the state's panhandle. Homes in Panama City sold for under 3.83% of the asking price in November of 2023 for a median home price of $360,000.

Redfin's current median home price in Panama City is $302,950. Panama City gets a livability score of 69 from AreaVibes, with high scores in cost of living and user reviews and low scores in commute, crime, and amenities.

Other Cities On The List: The above are the top three metros that showed up for Florida on the list. Other cities listed were Punta Gorda, Miami, Cape Coral, Port St. Lucie, Fort Lauderdale, Crestview, Deltona, Ocala, Palm Bay, Jacksonville, North Port, Tampa, Pensacola, and Orlando.