The Sunshine State Has a Lot to Offer
Florida has one of the hottest real estate markets in the country and for good reason. The state is bordered by the Gulf of Mexico, the Atlantic Ocean, Alabama, and Georgia. Florida is also an international tourist destination with year-round sunshine (earning the state its nickname “The Sunshine State”) and world-class theme parks. The economy is dynamic and diverse, with dozens of global business headquarters and a government that is both pro-business and pro-development. The demand for buying and renting real estate in Florida is predicted to keep growing well into the next 5 years and beyond. It is a prime market for year-round living, working, second homes, and retirement. The market is being driven by a combination of Covid work from home relocation, migration from high tax states with burdening regulations, and corporations taking advantage of Florida’s pro-business growth initiatives.
Population growth
Florida has gained more than 2.7 million new residents since 2010, making the state the 3rd most populated after California and Texas. Home to over 21.5 million people, Florida’s population grew by 14.6% compared to one decade earlier. Over the next few years, Florida is projected to gain 845 new residents per day. In 2022, the state will grow to over 22 million. The four largest metro areas in Florida are Miami-Fort Lauderdale-West Palm Beach with 6.2 million residents, Tampa-St. Petersburg-Clearwater with 3.1 million, Orlando-Kissimmee-Sanford with 2.5 million, and Jacksonville with just over 1.5 million residents. But other regions in the state, especially North Central, West Central, and North West regions, are also seeing substantial growth in all sectors of business and residential growth.
Job market
One of the many reasons that Florida is expected to keep growing so fast is from marketing the state as the ideal business location. The proactive, business-friendly government in Florida is an expert at attracting new high-wage jobs for workers who can compete on a global scale. The GDP of Florida is more than $1.1 trillion and has grown by more than 48% over the past ten years. With an unemployment rate of just 4.6%, the leisure and hospitality, information, and professional and business services sectors show the fastest signs of growth. Florida gained 84,500 total jobs in September 2021 alone and remains on a long winning streak of job creation well into 2022. Florida TaxWatch expects the labor force in Florida to increase by 2.9% in 2022. The workforce in Florida receives top rankings for #1 in innovation, #3 in size, and #4 in workforce training and high-tech employment in the U.S. There are almost 160 colleges and universities in Florida including the University of Central Florida, Florida International University, University of Florida, University of Miami, and Florida State University.
Real Estate Market
Home sales and prices are rising, inventory is going down, and the number of buyers paying in cash for single-family homes has increased by almost half, according to the November 2021 report from WFLA. In fact, every metropolitan area in the state has seen home prices increase by double-digits as of Q3 2021. Over the past five years, home values in Florida have increased by nearly 69%. Single-family home prices in Florida are up 17.7% as of October 2021 compared to the previous year, based on the most recent report from Florida Realtors. At the end of October 2021, active listings for single-family homes were down nearly 30% compared to the previous year with the inventory at a low 1.3 month supply.
Amenity Rich Community Living
There are over 1000 golf course living and marine living communities throughout the state of Florida, literally twice as many as any other state in the country. These one-time troubling developments have found new life in a time when security and community have moved to the forefront with buyers in state and out of state. Having all the amenities at your back door has become a national agenda for buyers that has now sparked more and more facilities being developed for the first time in decades. From theme park regions to coastal living and rural Florida areas, living communities are booming.
Here are a Few Great Communities We Think You, Will Love
Ocala Preserve Ocala Florida
In a naturally spectacular area of Ocala’s world-famous horse country, Ocala Preserve is a sophisticated and welcoming gated lifestyle community unrivaled in its thoughtful design. The community is set among groves of majestic live oak preserves with scenic green spaces stretching throughout the 600+ acre community. A rare gem in the area, Ocala Preserve offers unique outdoor experiences including a 7-acre lake, three themed parks, and an expansive network of walking, biking, hiking trails, and golf. Homes from $300’s
Golden Ocala Florida
Golden Ocala Golf & Equestrian Club has carved out a piece of paradise on the more than 1,200 acres of beautiful rolling hills in Central Florida. Enjoy championship golf and tennis, a world-class equestrian center, luxury living, and more in this one-of-a-kind, gated community. The majestic 77,000 square-foot clubhouse is your gateway to the magnificent amenities of a simply magnificent Ron Garl-designed golf course and connection to one of the most prestigious equestrian centers in the country. Homes from $800’s
Lakewood Ranch Sarasota Florida
The “Ranch,” as it’s known, is comprised of almost 18,000 homes and nearly 43,000 residents—and growing. Carved out of the 48-square-mile Schroeder-Manatee Ranch in east Manatee and Sarasota counties—owned since 1922 by the Uihlein family, the Jos. Schlitz Brewing Company, “The beer that made Milwaukee famous.” The Ranch has numerous neighborhoods, expansive golf offerings, and amenities galore. It is second in size to The Villages in Central Florida but on a more upscale level. Homes from #300’s
Nocatee Ponte Vedra Florida
Nocatee is one of the best-selling master-planned communities in America, and the number one place to call home on the First Coast. Nocatee is a coastal community that blends a variety of neighborhoods with schools, parks, recreation, offices, shopping, restaurants and so much more. Located in world renowned Ponte Vedra, Florida, Nocatee is just a few minutes away from pristine beaches, golf courses, business parks, and major airports in downtown Jacksonville and St. Augustine. Just minutes from TPC Sawgrass and other top golf facilities along Florida’s First Coastline. Homes from $300’s
Latitude Daytona Beach Florida
Latitude Margaritaville Daytona Beach has been named one of the “50 Best Master-Planned Communities in the United States” by Where to Retire Magazine! Latitude Margaritaville communities offer Conch Cottages, villas, and single-family homes as well as world-class resort amenities, and an active lifestyle built on the four pillars of fun, food, music, and escapism. Over 550,000 prospective homebuyers are registered as Latitude Margaritaville Paradise Club members to receive regular updates on the communities. Homes from $300’s
Fiddlesticks Ft Myers Florida
Fiddlesticks Country Club is a gated golf community routinely recognized as one of the finest golfing experiences in Southwest Florida. Fiddlesticks is a true golf community offering low densities with two 18-hole courses for less than 600 members. Fiddlesticks has been selected by the United States Golf Association as the site of the 2022 USGA Senior Women’s Amateur Championship in September. Fiddlesticks is the first club in southwest Florida to host a USGA Championship. Fiddlesticks amenities include a 40,000 square-foot clubhouse offering three meals a day in season, eight tennis courts, a fitness center, and pool. Homes From $400’s
