Homes with a Mediterranean architectural style, a fixture of the South Florida landscape, have lost their appeal to many U.S. home buyers.
Their popularity appears to have peaked, according to an analysis by listings database Realtor.com.
The median asking price for Mediterranean-style homes listed for sale is $750,000, three times greater than the median asking price for homes overall.
But while median list prices overall have risen 25 percent since 2012, median list prices for Mediterranean-style homes have barely budged.
Among homes with the four most popular architectural styles — Mediterranean, Victorian, Colonial and modern — median asking prices for modern homes rose the fastest, up 37 percent over a four-year period through August.
The Realtor.com database also shows that 67 percent of the Mediterranean-style homes now listed for sale were built from 1990 to 2009. [Wall Street Journal] – Mike Seemuth