It’s been a very busy year for real estate sales across the United States and especially in Florida. Many places have seen substantial growth in home values, while other areas have been slower to show any measurable growth. Although, over-all Florida real estate values increased steadily through late November.
The detailed home value guide here was compiled from expert Realtors and trusted online sources to ensure an accurate snap-shot of 2018 market trends in the sunshine state. We have broken down the data for the following three cities, Port Saint Lucie, North Miami, and Tampa, FL. These all have growing Real Estate markets with new construction homes being built, many renovated properties for sale, and room to grow in the future, ensuring higher property values down the road.
Many people haven’t even heard of Port St Lucie because it’s just now being discovered by people looking to move to the Treasure Coast. The area drawls so many folks because it’s location on the Atlantic Ocean and The St Lucie River offer a vast variety of Real Estate options. Located just North of West Palm Beach on Florida’s East Coast and voted “the safest city” in 2017.
New homes for sale in Port Saint Lucie, FL saw a 10% increase in value this year and a huge boost in brand new construction purchases. There are many vacant lots within guard-gated communities and outside of HOA areas as well. New homebuilders offered sweet incentives for people to buy new homes, and it worked out well in 2018, with hundreds of new homes being built. The median home value in Port Saint Lucie is $220,000 according to Zillow’s trends report for the area.
Miami Florida is a well-known destination hotspot and will always have a reliable Real Estate market. Now if you compared the property values anywhere in Miami-Dade County, they will be much higher than in most other parts of Florida. This is due in part to Miami being a worldwide connection and many people from all over constantly move to Miami.
Still, the homes for sale in Miami consist of so many different styles, locations, and prices its hard not to break it down mile, by a mile. For instance, Miami Beach condo sales were in somewhat of a slump in 2018. This was in part due to so many condos for sale and not enough buyers which lead to lower prices and slower sales. On the contrary, high-end properties were sold for record-setting prices and are expected to continue to grow in value in the coming years.
Source: Pana Real Estate Team
2018 was a great year for Tampa Real estate sales which set new records in the new construction sector. Tampa Bay is made up of a large demographic which includes Tampa, St Petersburg, and Clearwater. There were many new homebuilders that created new home communities in Tampa which sold out pre-construction in some cases.
Tampa’s close vicinity to the Gulf of Mexico to the West and Orlando the N.E. makes it a great place for people that like to travel to both places. New construction sales made sense in Tampa this year due to a stimulated economy, big builder incentive programs and an affordable median home value of $283,000.