While we all feared that COVID-19 would slow down the real estate economy, nothing could be further from the truth when it comes to Florida real estate. In fact, during the past couple of years, some of the most thriving US markets were in Florida. Therefore, it should come as a surprise that this year holds great potential for all those who wish to invest in the Sunshine state. To help those investors out, we will give you our rundown of the top Florida real estate markets for 2022.
Top Florida real estate markets for 2022
Before we start, it is essential to note that these are merely suggestions based on marketing research and prior real-estate trends. As such, we recommend that you use them as a starting point for further market research, not as an end-all. If you have any specific questions about a particular market, know that topagentrebate.com is more than happy to connect you with an experienced agent from your area. That way, you can get valuable info firsthand and learn whether the local market seems like a worthwhile investment.
Cape Coral
Let's start our list with one of Florida's economically strongest and fastest-growing markets. Cape Coral stands as a clear choice for real estate investment - especially if you have a decent budget and are ready for a quick buy. The median sold home price in Cape Coral is around $404.5k. In October 2021, it was $244k. Therefore, it is easy to see how lucrative this area can be for real estate investors. The main reasons for such a substantial increase are the availability of high-paying jobs and notable improvements in living conditions. Nowadays. Cape Coral holds tremendous housing opportunities for both young families and single professionals.
Jacksonville
While not as fast-growing as Cape Coral, there is one word that summarizes Jacksonville pretty well. And that word is stability. Namely, among all the Florida markets, Jacksonville stands as the most stable. Comparing the ongoing median home sold value of $280k to that of October 2021, $225k, there isn't that much increase. At least when compared to Cape Coral. But, if you value a safe investment over a promising one, Jacksonville is the place to check out. During the past years, the cost of a home has done nothing but rise. And seeing the steady increase in population, there is every indication that investing in real estate will continue to be lucrative. So, whether you plan on selling or renting, know that Jacksonville is a smart choice.
Pensacola
As it is now, Pensacola doesn't have terrific employment rates. In fact, most estimates put them below the US average. Meanwhile, the median sold home price has risen from $250k in October 2021 to $269k today. So, what's going on? Well, this factor alone should highlight the idea that Pensacola is a terrific place to live - especially for families. The abundance of good schools, healthcare facilities, family-oriented entertainment, and cultural diversity is why people are moving to Pensacola as we speak. Even Best Movers in Florida are surprised at how many people ask them to refer a reliable Pensacola moving company.
Orlando
Orlando is another easy choice for Florida’s real estate investment in 2022. Both the real estate market and the job opportunities have thrived in the past couple of years, and there is every indication that they will continue to do so. With fast-growing companies like VRIZE and Solarmission, Orlando stands to welcome an increasing number of young professionals. And while there are a couple of Miami neighborhoods that exclusively house young professionals, Orlando has no shortage of young talent. This alone should give you an idea of the rate of development that Orlando is experiencing. The current median home sold price is $330k. In October 2021, it was at $317k. So, while there it is not fast-growing, Orlando is definitely lucrative when it comes to real estate investment.
Tallahassee
As one of the more surprising entries on our list of hottest real estate markets in the Sunshine State, Tallahassee stands as a decent real estate market in the modern Florida landscape. If you plan on living there, know that it has excellent job opportunities, schools, and health facilities. If you are looking to simply invest, know that the Tallahassee real estate market has been on a steady rise. The median home sold price was $169k in October 2021. While the ongoing price is $215k. So, compared to other markets that we've listed, this one is not only stable but also fairly inexpensive.
The problem is that, just like many communities across Florida, Tallahassee is a "seller's market" at the moment. Properties are selling in less in a day, and this extends to all price ranges. So, there's a lot of insecurity. And, in all the rush and the push, you must be ready to act quickly and firmly. For that same reason, it's best to look for a reliable team to help you out ahead of time if you plan to move there.
Port Charlotte
To finish off our list, we will give you one of the most popular markets for retirement homes. Namely, Port Charlotte stands as a clear choice for those that see Florida as their retirement state. The increase from $269k from October 2021 to $305k today should give you an idea of how well Port Charlotte is doing when it comes to real estate. And if you plan on renting before you move in at your old age, know that there is hardly a better choice.
Final thoughts
To properly understand Florida real estate markets for 2022, we suggest you also research Florida real estate in general. Some local market trends are simply symptoms of a broader trend that impacts the whole state. At the same time, others are more specific to the local area and stand to change based on factors that only affect it. The more you understand what impacts the real estate market of an area, the better you can predict whether the market will be lucrative. So, do yourself a favor and get an idea of what Florida is like before researching specific markets.
Written by: Lisa Roberts with US Moving Experts