Four markets along the Gulf Coast are among the 10 coolest markets for residential real estate in the U.S., according to a study by real estate analytics firm Cotality. The study found that Cape Coral, Naples, Punta Gorda and North Port all experienced price drops in September that put them among those with the greatest year-over-year decreases.
Leading the “Top 10 Coolest Markets” list was Champaign, Illinois, which saw a 7.9% year-over-year home price price drop. It was followed by Cape Coral, with a 7.1% decrease; Naples, with a 6.7% decrease; and Punta Gorda, with a 6.2% price drop. North Port was sixth on the list with a 5.1% year-over-year decrease in home prices. (The MSA for the North Port market is North Port-Sarasota-Bradenton.)
Top 10 coolest markets
- -7.9% Champaign, Illinois
- -7.1% Cape Coral
- -6.7% Naples
- -6.2% Punta Gorda
- -5.2% Sebring
- -5.1% North Port
- -4.8% Brownsville
- -4.8% Wichita Falls, Texas
- -4.7% Kahului, Hawaii
- -4.6% Sebastian
Source: Cotality…