Between low mortgage rates and growing home values in Florida, now is the time to buy, whether it’s for an investment or a retirement home.
South Florida saw some of the steepest drops when the market crashed. However, listing prices indicate that we may have just passed the bottom and are on our way back up.
Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up 10 of the top 11 places for highest year-over-year list price spikes.
Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.
Here are the top 10 Florida cities boasting the highest percentage of year-over-year increases in average list prices.
Average list price: $640,332
Year-over-year increase: 27.4%
2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%
3. Central-Fla. rural service area
Average list price: $405,809
Year-over-year increase: 19.41%
4. Punta Gorda, Fla.
Average list price: $267,066
Year-over-year increase: 16.37%
6. Sarasota-Bradenton, Fla.
Average list price: $466,785
Year-over-year increase: 15.86%
7. Naples, Fla.
Average list price: $713,087
Year-over-year increase: 15.13%
8. West Palm Beach-Boca Raton, Fla.
Average list price: $591,895
Year-over-year increase: 14.68%
9. Ocala, Fla.
Average list price: $193,360
Year-over-year increase: 12.07%
10. Lakeland-Winter Haven, Fla.
Average list price: $181,409
Year-over-year increase: 11.48%
11. Orlando, Fla.
Average list price: $319,419
Year-over-year increase: 10.56%
If you’re interested in purchasing a home in Florida, call John at 239-672-2599 to meet with an agent licensed both in Pennsylvania and Florida.