The spring selling season has begun with a strong start, with sales in both the existing- and new-home markets increasing during February.
While prices are beginning to level, research from Florida Atlantic University suggests that buyers in several markets are overpaying for homes. Researchers compared the average expected home value based on historical trends with the average list prices across the 100 largest metro areas to determine the most overpriced housing markets. Among the most overpriced markets are five Florida and two Tennessee metro areas.
10. Nashville, Tennessee
- Average listing price: $420,932
- Expected home value: $296,827
- Difference between home value and list price: 41.81%
9. Tampa, Florida
- Average listing price: $361,065
- Expected home value: $252,643
- Difference between home value and list price: 42.9%
8. Deltona, Florida
- Average listing price: $334,978
- Expected home value: $233,050
- Difference between home value and list price: 43.74%
7. Detroit
- Average listing price: $226,101
- Expected home value: $157,046
- Difference between home value and list price: 43.97%
