FL Luxury Home Markets Defy National Downturn, Report Says

While luxury home prices are declining across much of the country, several Florida markets are bucking the trend, including Tampa Bay, Sarasota-Bradenton and Naples.

Five Florida metropolitan areas ranked among the 12 markets nationwide where luxury home prices increased by at least 1 percent year over year, according to a new Realtor.com report.

Naples-Marco Island led the country with a 9 percent increase, while the North Port-Bradenton-Sarasota market recorded the nation's second-largest increase, with luxury listing prices climbing 7.7 percent, the report said.

Other Florida markets posting gains included Cape Coral-Fort Myers, up 4.1 percent; Miami-Fort Lauderdale-West Palm Beach, up 4.1 percent; and Tampa-St. Petersburg-Clearwater, up 2.1 percent.

Find the full top 12 list here.

The findings contrast with the national luxury housing market, where the entry-level luxury price threshold, representing the top 10 percent of listings, fell 2.3 percent year over year to about $1.2 million.

In the Sarasota-Bradenton-North Port market, the entry-level luxury threshold reached about $1.8 million. Luxury properties also sold nine days faster than they did a year earlier.

Naples recorded an entry-level luxury threshold of about $3.75 million, with properties moving a median of 27 days faster than a year ago.

In Tampa Bay, the entry-level luxury threshold was about $1.08 million, with luxury homes spending a median of 88 days on the market, 13 fewer days than the previous year.

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