According to MSN.com Florida is top 10 in a list of states that are going to be some of the most popular housing markets in the near future. This is a promising prediction for the sunshine state.
The city with the biggest price increase for homes in 2014 is Panama City and in the next four years the price increase is estimated to be over 26%. Currently median prices are just over $150,000.
2014 has already been an overall great year for the Florida housing market. This is thanks in part to record low mortgage rates and high mortgage affordability. There has been a strong growth in home prices which has leveled out the playing field for buyers and sellers. The strengthening job market has also helped increase home values.
Florida’s cities with the largest price increases include Alachua, Bonita Springs, Stuart, Panama City (as we mentioned already) and Bartow Florida. The most dramatic decreases in listing prices took place in Edgewater, North Fort Myers, High Springs, Lake Mary and Melrose Florida. The most expensive markets in Florida are Miami, Coral Gables, Captivia, Longboat Key and Pinecrest while the least expensive markets are in Holiday, Port Rickey, Belleview, Lehigh Acres and Deltona.
Whether you’re a buyer, seller or investor today’s market is in your favor. While the prices are steady and the mortgage rates are low get out there and explore what’s on the market!
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