Believe it or not, Florida’s population grew by more than 200,000 residents between July 2020 and July 2021.
Florida real estate is certainly appreciating at record levels. But is now a good time to buy a house in Florida? Will prices continue to rise in the future?
Here’s what you need to know.
Why Florida?
There are good reasons why moving to Florida has become so popular. The state offers gorgeous weather and a low cost of living. Florida is also one of only nine states in the country that have no income tax.
Recent years have seen many major companies move to Florida, including Goldman Sachs, Citadel, and Blackstone.
The area boasts plenty of new employment opportunities, as well as fresh new scenery for those whose jobs are now fully remote. They can enjoy mild, sunny winters and not have to worry about the cost of a commute.
Florida offers beautiful beaches on almost every border. If you enjoy fishing, boating, or waterskiing, you will have no shortage of things to do.
The food scene in Florida is thriving, with plenty of craft beer, oysters, and Cuban sandwiches to keep you happy. If you like art, there are plenty of local museums and galleries that continue to attract important names.
Everything from high-end malls to outlets is available everywhere for Florida shoppers. And sports fans will find plenty of special events, including Spring Training, International Polo Season, and lots of golf.
Florida has traditionally been a great place to retire. Yet modern years have seen an influx of young professionals and families, as there are plenty of excellent schools. Beach towns in particular offer a relaxed and family-friendly vibe.
With all of that, the cost of goods, services, and healthcare in Florida still falls below the national average. Many modern homes and apartments are still being built as folks continue to flock to the area.
What About the Real Estate Market?
You may be wondering if your Florida real estate purchase will pay off in such a thriving market. The answer is a solid yes!
Housing values are expected to continue to rise in 2022 by an impressive 11%. Single-family homes, townhouses, and condos all remain popular. Winter into spring also tends to be a less expensive time to purchase a house than in the summer.
If you’re considering moving into the Florida area, now may not be the best time to rent. Prices will continue to rise and you will be missing out on the money you could be earning on an investment.
Look into popular Florida neighborhoods to find the right place to make your sunny new purchase.
Sarasota
Sarasota is one area of tremendous population growth in Florida. It boasts a gorgeous downtown area with lots of beaches and excellent shopping.
The beaches here are top-rated because of their cool sand, no matter what the weather. It’s a great place for outdoor sports.
If you’re into the arts, downtown Sarasota boasts theaters, opera houses, and ballets. You can also check out plenty of museums, art galleries, and live shows.
In addition, the area has many great dining options that include craft breweries and local seafood. Sarasota is also less likely to see major hurricanes than the rest of the state.
The area boasts lots of great housing options, including luxury condos with pools and workout centers. There are also freshly built single-family homes that have become quite popular.
Many businesses are flocking to the Sarasota area because it has a lower cost of living than other major cities like Orlando and Miami. Beautiful new green office spaces are available for rent or purchase.
Sarasota is one of the top school districts in Florida. If you’re looking to get into a real estate market that’s bound to thrive over the next few years, you’ve got to check out Sarasota and the surrounding neighborhoods.
Bird Key
If you’re considering moving to the Sarasota area but are interested in something less busy, you’ve got to check out Bird Key. It features a gated community of mostly waterfront homes just past the famous John Ringling Bridge.
Young families will find parks, playgrounds, and opportunities for picnicking in the area. It’s also a great place to find nearby American cafes, Mexican restaurants, and dessert shops.
Homes in Bird Key are luxurious and may include features like well-appointed home offices, central air, and the latest appliances. You can also expect to find things like indoor pools and entertainment rooms.
Lido Key
If you’re looking for luxury, you’ll also want to check out Lido Key, an island just west of downtown Sarasota. It’s a perfect place for watching dolphins, sailing, and viewing the glorious sunsets. Snack bars, upscale restaurants, and unique boutiques abound.
Most of the homes in Lido Key are owner-occupied. The options include beautiful oceanfront houses as well as busy condominiums.
Lido Key is known for being less crowded and more relaxing than other islands in the area. It’s also a quick and scenic drive from bustling Sarasota. Although you will not find schools on LIdo Key, there are plenty of highly-rated public and private schools in the area.
Longboat Key
Longboat Key is located near the central west coast of Florida. It offers lots of waterfront golf, luxury resorts, and fine dining.
Condos and single-family homes are plentiful in the area. You’ll find waterfront property on canals as well as luxurious amenities like pools, walk-in closets, and marble soaking tubs.
Fishing, bird-watching, and kayaking are all popular activities in Longboat Key. You’ll be able to enjoy a serene lifestyle without the distractions of busy city life.
Lakewood Ranch
Families moving to the Sarasota area have got to consider Lakewood Ranch. It boasts excellent schools and country clubs.
The area has many planned communities with sports facilities and pools. There are also plenty of parks and lakes for families that love hiking and boating. New soccer and lacrosse fields are also a draw for families with young children.
Lakewood Ranch was one of the top-selling communities in Florida in 2021, and the area continues to be hot. It offers real estate at almost any price point, from the $300,000s to over $5 million. There are also plenty of new homes being built in the area.
New constructions include townhomes and ranches that offer luxurious living. You can also find sprawling estates with plenty of amenities or two-story colonials that are perfect for families.
Lakewood Ranch has two town centers on Main Street and Waterside Place. They are home to plenty of restaurants, cool boutiques, and entertainment.
Adventure parks, polo matches, and live music on Main Street are just a few of the reasons folks visit the Lakewood Ranch area and stick around. They are also attracted to the wildlife and active lifestyle.
Lakewood Ranch saw an 83% population increase from the previous year in 2021. That’s a lot of growth! You’ll want to get in on this market while you’ll still see a very high return on your investment.
Siesta Key
Siesta Key is probably one of the most well-known locations off the coast of Florida. It’s adjacent to Sarasota and about 15 minutes from its downtown, as well as about 30 minutes north of Venice.
Young professionals moving to the Siesta Key area will feel right at home. There are plenty of coffee shops, bars, and restaurants, giving it an upscale urban feel. The area is also known for its beautiful beaches and highly rated schools.
The trolley in Siesta Key runs up and down the beach all day. Meanwhile, you can check out art galleries, local markets, and restaurants. Active folks also enjoy activities like kayaking, parasailing, and beach volleyball.
Homes in Siesta Key include condos and waterfront homes. If you’re an investor looking for a rental property, you’ll find no shortage of folks looking to visit the area. Many may also wish to stay for a bit while they decide whether they want to be permanent Floridians.
Parks, tennis courts, and boat docks abound in Siesta Key. If you’re looking to retire or start a new family life, you’ll find no shortage of reasons to stay happy.
Is It Time To Buy a House in Florida?
If you love warmer climates, beaches, and bustling downtowns, it may be time to buy a house in Florida. The area has an unmatched real estate market that continues to thrive. Investors and relocators will want to get in on the deal while the market is still red hot.
Don’t stop learning about your new house in Florida now. For more great properties, contact us today.