Florida is a Hot Marketing for Real Estate Investors January 2022
Florida real estate has been a hot commodity for a few years now, and especially recently during the pandemic with many companies and people seeking to move to a state with less restrictive Covid measures and great weather. Property values in the state have exploded during 2021, up nearly 24%. As one of the fastest growing places in the US and with great quality of life and business opportunities, Florida currently provides fix and flip investors an excellent opportunity for financial gain. Here we identify six of the hottest real estate markets in the state that investors should keep an eye on.
Cape Coral FL
As one of the fastest growing metropolitan areas in the country and home to 32 companies on the Fortune 500, Cape Coral has the factors in place as an excellent real estate investment location. A popular area for both retirees and corporate employees, the median home price is $363,000 with an average listing of just 11 days for sale.
St. Petersburg FL
Situated at the tip of a Peninsula and across the bay from Tampa, St. Petersburg has seen an incredible housing value rise, up 13% over last year. With its neighbor Tampa having tight inventory and St. Petersburg itself having extension limits due to its placement on a Peninsula, the city makes an excellent choice for a fix and flipper to take advantage of Tampa population spillover and overall rising costs in the area. The median sale price is currently $325,000 with an 11-day period of average sale.
Miami FL
Living costs in Miami are higher than Florida averages but income in the city is actually lower, attributing to a high foreclosure rate on properties. For this reason, investors can find excellent property deals in the area making it one of the hottest fix and flip opportunities in the state. Sellers can expect to sell in around 54 days for a median sale price of $440,000.
Orlando FL
With perhaps America’s most popular theme park and homes selling on average in a matter of just 12 days, Orlando definitely makes our list of hottest markets in the state and is very competitive with a Redfin score of 74. The city has grown rapidly and is set to continue that trajectory going forward. The median home price currently is $325,000.
Kissimmee FL
Situated in prime location next to the central hub of Orlando, Kissimmee finds itself in a similar situation to St. Petersburg in that it benefits from larger city spillover of homeowners looking for alternative options to already inflated prices. The area has a wide variety of property options, catering to both newer investors as well as established investors with deep pockets for more luxury style fixers. With homes selling on average in just 9 days and a median value of $305,000, Kissimmee should not be overlooked.
Jacksonville FL
With a median home price of $275,000, Jacksonville has more affordable options than the majority of our list. Furthermore, the city is still one of the least competitive housing markets in the state so great deals can be found here for the savvy investor.
With a tight housing supply and the expectation to receive about 850 new residents daily over the next few years, the Florida housing market remains ripe for fix and flip opportunities. Are you looking to take advantage of the hot Florida market?
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