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As of August 31, 2022, the typical value of homes in Florida is $405,489 (Zillow Home Value Index). This value is seasonally adjusted and only includes the middle price tier of homes. Florida home values have grown by 30.5% over the last twelve months and 56.8% over the last twenty-four months (2 years).
For the last 15 years, the supply of new homes in Florida has been trailing behind population growth. Top that off with the increase of post-pandemic migration to Florida and that creates a huge gap in supply and demandwhich drives home prices up.
In fact, the Florida real estate market is one of the most profitable investment markets to date. There are many factors to suggest that purchasing Florida investment properties is a rewarding experience. For example, the state offers people with a lucrative return on investment on their properties.
According to a recent CBS report, Florida is now the most expensive place to live in the U.S. This comes not long after research by showed that Miami was the least affordable city.
According to market data company Statista, homeowners sold a record-breaking number of Florida single-family homes in 2021. However, Florida home sales appear to be slowing in 2022. In August, the median days to close in Florida increased by 2% month-over-month.
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In the summer of 2021, median home prices in Florida were more than $382,000just a tad lower than the national median of $385,000!Housing Costs in Florida. City in FloridaAverage Home PriceAverage Apartment RentTampa$281,455$1,291Jacksonville$280,161$1,28173 more rows Sep 12, 2022
A contingent status means that the seller has accepted an offer and the home is under contract.
Oct. 1, 2022, at 3:10 a.m. MIAMI (AP) Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers.
Is pending or contingent better? If a property is listed as contingent, the sellers has accepted the offer, but there are certain contingencies that need to be met, so the property is still active. If a property is listed as pending, however, the contingencies have been met and the sale is being processed.
Overall, the Florida housing market is still pretty hot and is expected to stay that way throughout 2022. This is great if youre a seller because it means home prices are going up and there isnt much selling competitionso you get the luxury of choosing from the best offers on your timeline.

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