![]() How to buy a house in Florida: A step-by-step guide Standout feature: Large and growing retiree community News & World Report's list of best places to retire. The median home value was $210,800 in 2018. If you're a retiree, Fort Myers is an excellent city to buy a house in. Standout feature: Culture and nightlife 5. Petersburg, a smaller city west of Tampa. Those who like city life but don't want to be in the center of it might consider St. The median home value was $218,900 in 2018, with an expected decrease by 0.6% in 2019. It's a great city for young professionals due to its exciting nightlife and many bars, restaurants, and cafes. Tampa is a West Florida city best known for its museums, Busch Gardens, and baseball. Standout feature: Well-suited for retirees 4. The median home value in Sarasota was $261,900 in 2019, which was about $25,000 more than the state's median at the time. The median resident age is 51.6 years old, which reflects the fairly high cost of housing compared to the rest of the state - the residents here are typically financially secure. Standout feature: Good public schools and lots of green space 3. Lakeland is a pleasant suburban area with good public schools and lots of parks. In 2019, the median home value was $162,900, with an expected increase of 2.1% in the following year. ![]() The real estate market in Lakeland has been heating up recently, seeing 5.6% growth in 2018. Standout feature: High-performing schools 2. Melbourne was $192,000 in 2019, with an expected increase of 1.5% in 2020. According to Zillow, the median home value in Melbourne, Florida, is known for its high-performing schools: out of the 125 most populous metro areas, Melbourne's high school students were ranked second for college readiness by U.S. Here are five established and up-and-coming cities you should keep your eye on. The 5 best places to buy a home in Floridaįlorida is an exciting real estate market. They'll be able to advise you based on data for your specific town, city, or region. To get a better idea of when to buy a home in your target market, speak with a local realtor. However, it's important to note that price trends can vary from city to city - state-level data can give you only so much insight. However, if it's June, you might decide to wait until prices start cooling down in July, Using this table, you can get a better sense of when you should plan to buy a home.įor example, if it's December and you want to get the lowest price on your home, consider holding out a month or two longer and buying in January or February. Here are the median sale prices for every season in Florida:Īs you can see from Redfin's data, sale prices hit their lowest point in January and then steadily climb up to their maximum in June. In the summer, that rises to $251,667 - over $10,000 more! Clearly, you can have significant savings by planning That said, there will be some great houses on the market for a low price.Īccording to Redfin, the median sales price in Florida in the winter is $241,000. Sellers in this situation usually won't put any work into the house before selling, so you're more likely to find as-is listings and fixer-uppersĭuring the winter. Those who sell in the winter are more likely to be doing so out of financial desperation or immediate need. Sale price is higher during the summer, so most sellers wait until then to list their homes. In the winter, you're more likely to find a house on the cheap, but there may not be as many houses on the market to choose from. When attempting to time the market, you need to balance two things: inventory and price. Timing the market: When to buy a house in Florida Read on to find out which time of year will give you the most options and the biggest savings when buying a house in Florida. In truth, the best time to buy a house really depends on your priorities and situation. But with interest rates currently on the rise, it pays to explore your options with a trusted mortgage provider to make sure you’re getting the best rate possible. Mortgage rates, on the other hand, were lowest in December. the month with the highest prices - the listing prices were $39,387 more than the annual average. On average, homes were $42,625 less expensive. In Florida, housing inventory, mortgage rates, and market trends vary from month to month.įor example, in recent years prices for homes in Florida were lowest in April. One way to make buying a house easier is starting the process at the right time. When to buy a house in Florida | The 5 best places to buy a home in Florida | How to buy a house in Florida: A step-by-step guide | FAQ about buying a home in Floridaīuying a house is a stressful process. Learn more about our editorial policy and how we make money. Note: When you work with one of our partners, we may earn a small commission.
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