According to Florida realtors, in Q1 2023, there were more active home sales announcements on the housing market than a year ago. This indicates that potential buyers today have a fairly large selection of real estate.
The average sale price of single-family properties in the state in March 2023 was $405,000, which is 2.1% more than in 2022, according to Florida Realtors Research Department in collaboration with local councils and associations of realtors. In April, the average price for apartments in townhouses across the state was $320,000, which is 3.9% more than a year ago.
Experts noted: in general, mortgage rates decreased in a certain range. This suppresses the feeling of uncertainty among potential buyers and gives them a sense of stability in the long term.
Florida continues to be a "hot spot" for buying real estate for both local and foreign buyers. The state is experiencing strong population growth and a stable labor market. Since the beginning of the pandemic, many have decided to move to the cities of Florida: Miami, Orlando and Tampa. According to the U.S. Census Bureau, Florida's population increased by 1.9% to 22,244,823 people from 2021 to 2022.