Home prices in the Sarasota-Manatee region climbed 8.5 percent over the year in August, outstripping the state and national gains.
Home prices in Charlotte County rose 7.0 percent in the same period, matching the Florida increase but topping the 6.4 percent U.S. average, real estate data provider CoreLogic said today.
Florida posted the nation’s 17th highest home appreciation for the 12-month period.
In Sarasota-Manatee, home prices decreased by 0.1 percent from July to August. In Charlotte, they rose by 0.7 percent for the month.
Despite the gains, home prices in Florida remain 33.4 percent off their peak, the second-highest level in the nation.
“The pace of year-over-year appreciation continues to slow down as real estate markets find more balance,” said Mark Fleming, chief economist at CoreLogic. “Home price appreciation reached a peak of almost 12 percent year-over-year in October 2013 and has since subsided to the current pace of 6 percent.
“Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future,” he said.
