HomeGain Releases 2nd Qtr Florida Home Prices Survey Data

Posted by: Louis Cammarosano on May 20th, 2009

On Monday, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our survey of over 1150 HomeGain current and former members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President so far.  On the HomeGain real estate blog we published the national and regional 2nd Qtr results.  Earlier this week we published the results of the California home prices and Texas home prices surveys.

Today we are releasing the Florida home prices survey data.

The survey shows a shift in the perception of Florida home buyers from the first quarter Florida home prices survey, with a greater percentage of home buyers believing that Florida homes for sale are either fairly priced or over priced by less than 10% (see Question 3).

Florida home sellers have also adjusted their expectations downward from the first quarter with 8% of home sellers thinking that their homes were worth 21-30% more than their Realtors’ suggested vs. 19% who so believed so in the first quarter. (see Question 2).

In the first quarter survey, sixty-four percent of Florida Realtors believed that home prices would drop in the next six months. In the current survey, just 24% of survey respondents believed that home values would experience further price depreciation in the next six months.

A majority of Florida Realtors (52%) now believe that prices will stabilize in the next six months vs. 28% who believed the same in the first quarter survey. The perceptions of Florida Realtors in the second quarter survey are more closely aligned with their nationwide counterparts, 29% of whom think home prices will decline in the next six months and 49% of whom believe prices will remain the same in the next six months.

Florida Realtors continue to express skepticism regarding the Obama stimulus package with 59% of survey respondents believing the plan will have no impact on Florida home prices. Florida Realtors also rated Obama’s performance as President lower than their national counterparts with 54% approving his performance vs. 57% nationwide.

Set forth below is the Florida home prices data with the national data in parenthesis:

1. On average, in the last year do you think your homeowner clients home values have:


Decreased: 82%/100% (84%/90%)

Increased: 5%/0% (3%/2%)

Stay the same: 13%/0% (12%/8%)

2. On average, what do your homeowner clients believe that their home is worth?


10-20% higher: 33%/35% (35%/45%)

10-20% less: 7%/6% (8%/10%)

1-9% higher: 22%/* (24%/*)

1-9% less: 10%/9% (9%/*)

21-30% higher: 8%/19% (8%/14%)

21-30% less: 7%/* (3%/*)

At listing price you recommend: 10%/5% (10%/14%)

More than 30% higher: 2%/16% (2%/4%)

More than 30% less: 2%/* (2%/1%)

3. How do your home buyer clients feel that homes for sale are priced?


Fairly priced: 18%/15% (19%/18%)

Overpriced by 10-20%: 25%/35% (30%/32%)

Overpriced by 21%+: 6%/12% (4%/10%)

Overpriced by less than 10%: 32%/14% (29%/21%)

Underpriced by 10-20%: 8%/14% (8%/14%)

Underpriced by 21-30%: 4%/4% (1%/2%)

Underpriced by 31%+: 2%/* (1%/2%)

Underpriced by less than 10%: 5%/* (5%/5%)

4.  What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?


Greater than 11-20%: 8% (7%)

Greater than 21%: 3% (3%)

Greater than 5-10%: 5% (10%)

Less than 11-20%: 25% (23%)

Less than 21-30%: 6% (5%)

Less than 5-10%: 46% (43%)

Little or no difference in price: 7% (8%)

5.  What is the average difference in price between what the home is listed at and what the home sells for?


Greater than 11-20%: 5% (4%)

Greater than 21%: 1% (2%)

Greater than 5-10%: 6% (5%)

Less than 11-20%: 25% (27%)

Less than 21-30%: 5% (4%)

Less than 5-10%: 54% (53%)

Little or no difference in price: 4% (5%)

6. In the next six months, do you think the values of homes in your market will:


Decrease: 24%/64% (29%/53%)

Increase: 23%/8% (22%/11%)

Stay the same: 52%/28% (49%/36%)

7. What percent of homes in your area are foreclosures?


Less than 10%: 40%/16% (26%/37%)

10%-20%: 23%/7% (15%/26%)

21%-30%: 18%/27% (12%/16%)

31%-50%: 12%/31% (7%/15%)

51%-75%: 3%/18% (3%/5%)

75%: 4%/1% (3%/2%)

8. What is the average home price in your area?


$151K-$300K: 56%/69% (56%/59%)

$301K-$500K: 20%/11% (20%/21%)

$501K-$800K: 6%/3% (5%/6%)

$801K+: 2%/0% (3%/2%)

Less than $150K: 17%/18% (16%/11%)

9. In your opinion, what impact has the Obama Stimulus package had or will have on home values this year?


Decreased home prices: 6%/11% (8%/13%)

Increased home prices: 2%/7% (3%/4%)

No impact: 59%/55% (55%/45%)

Stabilized home prices: 33%/27% (34%/38%)

10. How do you think Barack Obama is performing in his role as President?


Somewhat approve – 27% (31%)

Somewhat disapprove – 19% (19%)

Strongly approve – 27% (26%)

Strongly disapprove – 26% (24%)

* Data not available

See National and Regional Survey Results

Try HomeGain’s Instant Home Values tool

Florida home prices:

Jacksonville home prices

Miami home prices

Miami Beach home prices

Tampa home prices

Saint Petersburg home prices

Orlando home prices

Hialeah home prices

Fort Lauderdale home prices

Tallahassee home prices

Melbourne home prices

Cape Coral home prices

Port Saint Lucie home prices

Merritt Island home prices

Brandon home prices

Clearwater home prices

Coral Springs home prices

Kendall home prices

Lakeland home prices

Palm Bay home prices

Gainesville home prices

Sunrise home prices

Melbourne homes for sale

Melbourne real estate

View Florida homes for sale

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Find U.S. homes for sale and search U.S. real estate

HomeGain real estate home values survey results are based on responses of over 1,150 Realtors in the United States. State survey results for Q2 are available for the following states : California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices, Georgia home pricesArizona home prices and North Carolina home prices,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano




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