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10. Punta Gorda, Fla.

Year-over-year Median List Price Appreciation: 17.79%
Year-over-year Median Age of Inventory: -16.18%
Year-over-year Inventory: -29.25%
Unemployment: Rate (November 2011): 10.3%
Search/Listing Ratio Rank: 60

Punta Gorda, Fla., appeared on Realtor.com’s list of turnaround towns in the first and second quarters of 2011, but fell off in the third. However, it makes its triumphant return in the fourth quarter. Considering that since 2006 the area saw a 56.2 percent decline in home values, this turnaround is nothing short of remarkable.

According to Realtor.com, overall sales have increased 11 percent year-over-year, and Punta Gorda has seen its housing inventory undergo a year-over-year reduction of 29.25 percent. Sale prices have increased 11 percent year-over-year, but have still remained low enough to appeal to buyers looking for great deals.

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