January 11, 2017
Out of the 50 largest American real estate markets, 4 out of the top 5 are located in Florida, according to online marketplace Ten-X. Palm Beach County came in second place, with Fort Lauderdale following right behind in third. Orlando took the top spot, and Tampa took fourth place. Dallas, Texas was the only city in the top 5 not located in Florida. Each metro area on the list boasted a robust combination of high demand, price appreciation, economic growth and demographic growth.
Strong economic and demographic trends are keeping demand high throughout Florida. Sales are strong, and prices are growing. While the real estate markets in Palm Beach and Fort Lauderdale continue to thrive, home sales and prices in both areas are still lower than their pre-recession peaks. This suggests room for even further growth.
"While most of the cities at the top of the list share common traits like job growth, population growth and economic expansion, many of the cities showing the greatest potential were among those hardest hit during the Great Recession," Ten-X Executive Vice President Rick Sharga stated. "The top 20 cities in our report include many that were devastated during the foreclosure crisis – especially in states like Florida – and as home prices continue to recover, they still represent buying opportunities for homeowners and investors alike."
For more information on buying or selling luxury real estate in South Florida, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: Florida Realtors
