The Real Deal Miami

No longer swamped in foreclosures, Florida dominates list of “Turnaround Towns”

February 01, 2012 03:45PM

Thanks to the massive wave of foreclosures that swept across Florida, the state claims eight of the National Association of Realtor’s top 10 “Turnaround Towns.”

The report looks at which local markets experienced the greatest appreciation in median price and largest reductions in inventory age and inventory levels from the fourth quarter of 2010 to the same period in 2011.

Miami took the top spot.

“They say the first to hit bottom are the first to get up and that’s exactly what we have been seeing in Miami,” said Ines Hegedus-Garcia of Majestic Properties

Fort Lauderdale, which took the eighth spot on the list, was the other South Florida market to crack the top 10.

Elsewhere in the Sunshine state Fort Meyers-Cape Coral placed fourth, Sarasota-Bradenton placed fifth and Naples finished seventh. Rounding out the list were Lakeland-Winter Haven and Punta Gorda. — Adam Fusfeld