Key West reigned on the list of Florida average housing prices in November, with Clewiston coming in last.
At an average price of $358,000, Key West was No. 1 on a list of 33 areas measured by Jacksonville-based Lender Processing Services. Key West was the only average price above $300,000.
Clewiston was last. At $97,000, Clewiston’s average price was the only one below $100,000.
Jacksonville was No. 16 at $153,000.
Only three areas had prices from $200,000 to $300,000, with the majority between $100,000 and $200,000.
The LPS Analytics Division of Jacksonville-based Lender Processing Services analyzed 33 market areas in Florida, with some areas overlapping.
LPS also found that housing prices in Florida peaked at different times around the state, starting with Panama City-Lynn Haven and ending with the Miami area and Clewiston.
It found that housing prices peaked in Florida starting in August 2005, when prices hit their high mark in Panama City-Lynn Haven in the Panhandle area, and ending in January 2007, where prices peaked in Clewiston and the Miami-Miami Beach-Kendall area.
Jacksonville’s average price peaked in June 2006. As of November, it fell 45 percent from $278,000.
Florida’s high point in house prices was April 2006, while the U.S. peak price coincided with Jacksonville’s high mark in June 2006.
The Florida price fell 52.1 percent, much more than the average U.S. price decline of 30.6 percent.
The smallest price decline in the state was at The Villages, a strong area in Central Florida for retirement living. Prices there dropped just 18 percent, to $220,000, from their peak in August 2006.
The largest drop was 66 percent in Clewiston, in South Florida between Fort Myers and Palm Beach, on the shore of Lake Okeechobee.
It has been one of the areas hard hit by unemployment.
More than a third of the state’s areas, 13, saw prices decline less than 50 percent. Led by The Villages, the areas with declines less than 30 percent were two North Florida areas, Pensacola-Ferry Pass-Brent, at 28 percent, and Tallahassee, at 29 percent.
Other than Clewiston, the only other area with at least a 60 percent drop in the average price was Arcadia, down 60 percent.
Lender Processing Services provides integrated technology, services and mortgage performance data and analytics to the mortgage and real estate industries.
The LPS Applied Analytics Home Price Index summarizes national home prices by tracking monthly prices in more than 13,500 ZIP codes.
The Daily Record requested an analysis of Florida areas and of competitor cities.
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House price peaks and drops
The LPS Applied Analytics division of Jacksonville-based Lender Processing Services Inc. reported its updated home price index with residential sales nationwide. It also provided information about 33 metropolitan areas and regions in Florida. Its research included the average home sales prices, the month and year of the peak of prices in each area and the decline in price from the peak to November. LPS analyzed several areas of Miami and South Florida. In addition to the greater Miami-Fort Lauderdale-Pompano Beach area, LPS looked at areas with the larger Miami boundaries. Numbers are rounded. All calculations are by LPS.
| Price | Area | Peak | Decline |
| $358,000 | Key West | September 2005 | - 51% |
| $220,000 | The Villages | August 2006 | - 18% |
| $219,000 | Naples-Marco Island | January 2006 | - 55% |
| $211,000 | Wauchula | March 2007 | - 39% |
| $198,000 | United States | June 2006 | - 30.6% |
| $194,000 | Miami-Miami Beach-Kendall | January 2007 | - 55% |
| $191,000 | Miami-Fort Lauderdale-Pompano Beach | June 2006 | - 54% |
| $191,000 | West Palm Beach-Boca Raton-Boynton Beach | March 2006 | - 54% |
| $188,000 | Fort Walton Beach-Crestview-Destin | September 2005 | - 43% |
| $186,000 | Fort Lauderdale-Pompano Beach-Deerfield Beach | April 2006 | - 55% |
| $178,000 | Panama City-Lynn Haven | August 2005 | - 43% |
| $168,000 | Tallahassee | June 2006 | - 29% |
| $166,000 | Pensacola-Ferry Pass-Brent | March 2006 | - 28% |
| $163,000 | Gainesville | September 2006 | - 34% |
| $163,000 | Sarasota-Bradenton-Venice | November 2005 | - 55% |
| $162,000 | Florida | April 2006 | - 52.1% |
| $160,000 | Sebastian-Vero Beach | October 2005 | - 50% |
| $153,000 | Jacksonville | June 2006 | - 45% |
| $150,000 | Cape Coral-Fort Myers | March 2006 | - 58% |
| $144,000 | Port St. Lucie | November 2005 | - 57% |
| $143,000 | Orlando-Kissimmee | June 2006 | - 56% |
| $143,000 | Tampa-St. Petersburg-Clearwater | May 2006 | - 52% |
| $142,000 | Lake City | October 2006 | - 34% |
| $141,000 | Palatka | June 2006 | - 43% |
| $140,000 | Palm Bay-Melbourne-Titusville | November 2005 | - 56% |
| $138,000 | Punta Gorda | October 2005 | - 56% |
| $131,000 | Homosassa Springs | April 2006 | - 46% |
| $130,000 | Deltona-Daytona Beach-Deerfield Beach | April 2006 | - 55% |
| $130,000 | Sebring | June 2006 | - 52% |
| $129,000 | Arcadia | April 2006 | - 60% |
| $127,000 | Ocala | June 2006 | - 48% |
| $127,000 | Okeechobee | June 2006 | - 51% |
| $127,000 | Palm Coast | March 2006 | - 54% |
| $113,000 | Lakeland | June 2006 | - 55% |
| $97,000 | Clewiston | January 2007 | - 66% |
Source: Lender Processing Services