If you’ve been following the real estate market over the pas couple of years (and who hasn’t) there are plenty of opinions out there, but I like to look at statistics. Statistics can help you discover where real estate trends are moving and provide insight into emerging opportunities.
So, the short answer to your question, “Where are all the real estate opportunities?”
They’re out there. You haven’t missed the boat. You may just be looking in the wrong place.
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Here’s what the statistics show us:
A home purchase in June 2022 was about 80% more expensive than buying a home in June of 2019. (NAR)
This is probably not the statistic you were expecting to see first (or at all). We are well aware of the rise in home prices. I added this statistic because it’s where most of us get stuck and fall into the “I missed my opportunity” mindset. In reality, the opportunities have just moved locations.
Relocating to Small Town USA
More people than ever are relocating to smaller cities due to the lower home prices as well as the quality of life. The rise of remote workers (due in part to the pandemic) has caused more individuals to rethink their lifestyle and make location changes.
A Gallup Update from January 2021 states that 48% of US adults would rather live in a town or rural area, up from 39% in 2018.
36 million workers or 22% of Americans will be working remotely by the year 2025. This is an 87% increase from pre-pandemic levels.
Originally, there were predictions that the number of people moving away from larger metropolitan areas would drop off after everything went “back to normal” and cities reopened. That has not been the case.
According to the New York Post, the number of people relocating to Florida during the first few months of 2022 is even higher than it was during the same period in 2021.
This is good news for investors who can now broaden their scope of what a rentable property looks like. It’s also good news for first time home buyers. Home prices are still affordable in smaller cities, especially SW Florida. Plus there’s the added benefit of an overall lower cost of living in Florida.
Where Are People Moving?
Half of the top 10 cities that experienced the largest population growth in 2021 were in Florida.
Over the past ten years approximately 75% of the country’s population growth has been concentrated in the Sun Belt states.
Not just a retirement destination anymore, the south has been steadily attracting the attention of younger professionals and entrepreneurs due to more affordable home prices, small town growth in recent years, and overall quality of life.
What Does All This Mean for You?
Whether you’re thinking of relocating to Florida from another state, a first time home buyer or an investor looking for the right property to add to your portfolio, the SW Florida area has excellent real estate opportunities to consider.
As someone who lives and works in small town America, I can definitely attest to the fact that our smaller cities are experiencing new growth.
Labelle, Florida is rich with land sales and opportunities for developers. In SW Florida average home prices are well below the average of many of the other states:
- Florida’s average home price: $416,000
- Colorado’s average home price: $605,000
- California’s average home price: $817,000
- Washington’s average home price: $640,000
- Utah’s average home price: $588,000
- Oregon’s average home price: $535,000
- Massachusetts average home price – $612,000
(Median home prices from MotleyFool)
SW Florida's Real Estate Opportunities
Of course, every opportunity is not ideal for every person, but it’s smart to take a look at the trends and statistics before making any final decisions. Smaller towns or more rural areas located just outside of larger cities can prove to be financially beneficial to first time home buyers.
For example, a home buyer set on finding a Fort Myers home might look at the nearby city of Labelle, Florida as an option. Labelle is a smaller town and some of the homes in Labelle meet the location guidelines for a USDA loan, which could mean zero down for the home buyer.
Take a look at our MLS searches below for home buying opportunities in Fort Myers, Cape Coral and Labelle, Florida.
Stephanie Sposato
Stephanie Sposato is a Labelle, Florida resident, real estate and business investor, and owner / broker with Weatherford Realty Group. Stephanie is an award-winning Realtor with over two decades of experience working with investors, first time home buyers and developers in SW Florida.
Labelle, Florida - Homes for Sale Under $350,000
Fort Myers, Florida - Homes for Sale Under $350,000
Cape Coral, Florida - Homes for Sale Under $350,000
Real Estate Opportunities in Florida
If you’re looking for today’s best real estate deals, SW Florida has plenty of opportunities.
Whether you’re thinking of relocating or searching for the ideal investment property, give us a call. Weatherford Realty Group has over two decades of experience working with buyers, sellers, land developers, investors and first time home buyers.
We are committed to being the best real estate agency in SW Florida.
