Top 10 Most Overpriced Housing Markets in the U.S.

The housing market may have cooled down in many areas across the U.S., but there are still some cities where buyers are paying much more than homes are actually worth. According to a study by Florida Atlantic University, the most overpriced housing markets in the nation have been identified by comparing average expected home values to average list prices.

Here are the top 10 most overpriced housing markets in the U.S., ranked from least to most overpriced:

10. Nashville, Tennessee
Average listing price: $420,932
Expected home value: $296,827
Difference between home value and list price: 41.81%

9. Tampa, Florida
Average listing price: $361,065
Expected home value: $252,643
Difference between home value and list price: 42.9%

8. Deltona, Florida
Average listing price: $334,978
Expected home value: $233,050
Difference between home value and list price: 43.74%

7. Detroit, Michigan
Average listing price: $226,101
Expected home value: $157,046
Difference between home value and list price: 43.97%

6. Palm Bay, Florida
Average listing price: $345,520
Expected home value: $238,308
Difference between home value and list price: 44.99%

5. Lakeland, Florida
Average listing price: $303,766
Expected home value: $209,260
Difference between home value and list price: 45.16%

4. Memphis, Tennessee
Average listing price: $225,958
Expected home value: $154,575
Difference between home value and list price: 46.18%

3. Charlotte, North Carolina
Average listing price: $355,613
Expected home value: $240,670
Difference between home value and list price: 47.76%

2. Cape Coral, Florida
Average listing price: $375,812
Expected home value: $251,100
Difference between home value and list price: 49.67%

1. Atlanta, Georgia
Average listing price: $357,677
Expected home value: $236,627
Difference between home value and list price: 51.16%

These findings shed light on the current state of the housing market in these cities, where buyers are paying significantly more than the actual value of the homes. The data is sourced from Florida Atlantic University’s Top 100 U.S. Housing Markets and is accurate as of January 31, 2023.