The Florida real estate outlook continues to shine brighter and brighter.
Throughout the last 2 years, the hot Florida property market has been a beacon of hope and strength. The Coronavirus Pandemic has ravaged communities and economies, yet the housing climate in the Sunshine State stands defiant.
Today we analyze the consistently high performance of this hot investment market. We put the spotlight on 3 key cities in Florida: Miami, Palm Beach, and Gainesville.
You will discover where to invest in Florida if you want to own a property. Learn how to earn income in US dollars – from home – either with rental income and/ or property appreciation.
According to the state’s November 2020 Demographic Estimating Conference, between April 2019 and April 2020, the state’s population increased by 1.83% or approximately 387,500 people. It’s estimated that between April 2020 and April 2021 Florida’s population grew by 1.38% or about 298,000 people. That’s an average of almost 1,000 people per day.
Florida Population Growth Outlook
A study/prediction by http://edr.state.fl.us/ suggests Florida’s population will grow by 60,000 over the next 3 years ( a compound growth rate of 1.53%).
Yet, the gap in wealth between homeowners and renters continues to widen. In 2019 the gap throughout the US was $254,900 USD vs $6270 USD.
With such a high percentage of renters (34.2%) in Florida, the opportunity to build wealth through property ownership in Florida is a proven winner.
The median sales price for single-family existing homes in Florida in June was $351,000, up 24.5% from last year and up $7000 from last month. The average home price rise is shocking, up $102,200 since last June.
Single-family home sales rose 57.9% year over year, statewide in May totaling 30,950 units.
Active house listings fell 58% from 2.3 months last year to 1.1-months’ supply
Condo sales for May totaled 15,491, which is up 155.2% over May 2020.
Median price for condo-townhouse units rose 24% year over year to $250,000.
The average house sold price jumped 46% year over year to $530,083.
Real Estate Cost per sq. ft. Florida vs. other States (2019)
The price per square foot in Florida is one of the lowest in the country.
Florida $120 Per Sq/ft
New York $179 Per Sq/ft
California $256 Per Sq/ft
Massachusetts $208 Per Sq/ft
Illinois $123 Per Sq/ft
Colorado $164 Per Sq/ft
Washington $157 Per Sq/ft
Oregon $160 Per Sq/ft
Alaska $165 Per Sq/ft
Why Wait – Act Now
If you’re ready to start building your net worth, the current real estate market offers several opportunities you should consider. For example, with today’s low mortgage rates, your purchasing power may be higher now than it has been in some time.
There may be no better time than now to start working towards your home-ownership goals, especially since rates are anticipated to rise in the coming months.
Today’s Takeaways on the Florida Property Market in August 2021
Pay off mortgage AND gain income with rental income
It truly is an exciting time to invest in property – if you happen to be in Florida, or at least looking in that direction.
The best thing about investing in Florida real estate is that you don’t have to live there if you don’t want to. To take advantage of the numerous property investment opportunities in the Sunshine State, you don’t even have to live in the US at all.
The truth is, you can earn income in US dollars, thru rental or appreciation, all while residing in your home state or country.
Contact us NOW to get your best opportunity in the hot Florida property market, and to start earning income in US dollars, all while living abroad.