Property values in Florida continue to rise according to the Florida Association of Realtors. Close sales of single-family homes totaled 23,570 last month–a 13.4% gain over the same time last year.
Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. “September marked the 46th month that statewide median sales prices increased year-over-year for both single-family homes and townhouse-condo properties. Sellers received a higher percentage of their original list price, with single-family homes getting on average 94.3 percent and townhome-condos getting 93.2 percent on average. It also took less time to make the sale in September: a median of 46 days for single-family homes and 53 days for townhouse-condos.
With the shortage of available homes on the market, buyers are turning to building. New home starts for building are dramatically increased over the last 6 months. These stats help show the opportunity to purchase quality Florida land as an investment. While land prices have jumped considerably from their 2011 lows, there is still plenty of time to ride the wave. For instance, a typical lot in a deed restricted community in Port Charlotte, Florida sold for $60,000 in 2006. Now the same lot is selling for $15,000-$20,000–up from the $5,000-$10,000 low of 2011. Browse some great deals on prime Florida building lots.