- Introduction:
The purpose of this research study is to analyze the listing prices in the top 10 largest cities in Florida. The data used for this study was obtained from Airdeed Homes and was pulled on September 22, 2023. The variables of interest include the city, count of active listings, average listing price, and median listing price. - Methodology:
The data used for this analysis was collected from Airdeed Homes, a reliable source for real estate market information. The data includes information for the top 10 largest cities in Florida, namely Fort Lauderdale, Miami, Hialeah, Tampa, Cape Coral, St. Petersburg, Orlando, Port St. Lucie, Jacksonville, and Tallahassee. - Results:
The following table presents the findings of the analysis:
| City | Listing Count | Average Listing Price | Median Listing Price |
|---|---|---|---|
| Fort Lauderdale | 927 | $1,880,864.30 | $799,786.00 |
| Miami | 2385 | $1,331,295.02 | $749,000.00 |
| Hialeah | 143 | $599,718.79 | $565,000.00 |
| Tampa | 1291 | $941,803.91 | $520,000.00 |
| Cape Coral | 2644 | $598,018.44 | $469,900.00 |
| St. Petersburg | 1038 | $731,080.53 | $459,900.00 |
| Orlando | 920 | $585,138.23 | $459,450.00 |
| Port St. Lucie | 990 | $502,591.45 | $449,994.50 |
| Jacksonville | 1793 | $421,713.20 | $328,900.00 |
| Tallahassee | 1073 | $383,659.12 | $325,311.00 |
- Discussion:
Based on the analysis of the data, the average listing prices across the top 10 largest cities in Florida vary significantly. Fort Lauderdale has the highest average listing price at $1,880,864.30, followed by Miami with an average listing price of $1,331,295.02. On the other hand, Tallahassee has the lowest average listing price at $383,659.12.
Similarly, the median listing prices also show variations among the cities. Fort Lauderdale has the highest median listing price at $799,786.00, followed by Miami with a median listing price of $749,000.00. Tallahassee again has the lowest median listing price at $325,311.00.
It is worth noting that cities like Hialeah, Cape Coral, and Port St. Lucie have relatively lower average and median listing prices compared to cities like Fort Lauderdale and Miami. This suggests that these cities may have more affordable housing options.
- Limitations:
This research study has a few limitations. Firstly, the data is limited to the active listings available on Airdeed Homes. Additionally, the data is specific to a particular date (Data Pulled on September 22, 2023), and listing prices will change as listings come on and off the market. - Conclusion:
In conclusion, the analysis of Florida listing prices for the top 10 largest cities shows variations in both average and median listing prices. The findings provide valuable insights into the affordability of housing in different cities, with Fort Lauderdale and Miami having higher listing prices compared to other cities. This research study serves as a starting point for further exploration of real estate trends in Florida.
