The Florida real estate market will continue growing throughout the rest of 2021 and beyond. Property values on the Treasure Coast have increased.
PORT ST. LUCIE, FL, US, July 9, 2021 /EINPresswire.com/ — The Florida real estate market will continue growing throughout the rest of 2021 and beyond. Property values on the Treasure Coast – St. Lucie County, Indian River County, and Martin County have increased. This surge is caused by a boom in the South Florida economy including an influx of new companies and out of state residents moving to the area.
After the COVID-19 pandemic, the real estate market felt its impact all over the country. The Treasure Coast has become one of the fastest growing real estate markets in the US in the past year. The Treasure Coast region of Florida is a section on the Atlantic-facing side that spans from Vero Beach to Palm Beach. Metros in the Treasure Coast include: Port St. Lucie, Fort Pierce, Vero Beach, Jensen Beach, and West Palm Beach. The Florida area has seen a recent wave of transplants from high-tax areas such as New York, especially after the pandemic. As a result, this has driven a demand for real estate in Florida, specifically in the Treasure Coast area.
Growth in the Treasure Coast Area of Florida
The state of Florida’s population is projected to increase to nearly 26 million by 2030. (Source: Florida Chamber of Commerce). The new decade will see an increase in out-of-state transplants as well as an influx of foreign-born residents. The Treasure Coast of Florida attracts new residents yearly through its beaches, attractions, and local culture. Real estate in South Florida is in demand in 2021 and purchases for single-family homes has risen. South Florida Business Journal reported that the sales volume of single-family homes has increased by 24.4% since last year. Port St Lucie has become one of the fastest growing cities in Florida.
Real Estate in Port St. Lucie, FL
Real Estate on the Treasure Coast is not showing any signs of slowing down. The real estate market all over Florida has seen record numbers. Mansion Global found that northerners are staying for longer than just a few months during the winter. Rather, they are shifting from vacation homes or rentals and looking into permanent residences. This real estate trend was accelerated by the pandemic.
“I put my home on the market in Port St. Lucie and I immediately received eight different offers in the following days. The real estate market is explosive right now and it is a great time for home sellers to get the best price for their property.” – Greg, client of Dore Step Real Estate Services
Florida is not the only state where home prices are spiking. This trend has been occurring all over the country, especially with homes selling above the listing price and an influx of cash buyers. Dore Step Real Estate Services, a real estate agency in Port St. Lucie has seen an explosion of interest in home purchases in the past year. Founder Maureen Dore comments on the recent uptick in interested buyers in Port St. Lucie:
“Many buyers are particularly interested in St. Lucie county and are ready to purchase any home available at a moment’s notice. I’ve had listings go up that have been gone by the end of the week. The second a property becomes available on the market you have to jump on it immediately or it will not be there when you check later.” – Maureen Dore, Founder of Dore Step Real Estate Services
Homes are going to become more out of reach in the following year and inventory is not going to be able to keep up with the demand. Prices will not be decreasing anytime soon. It’s not just single family homes that have been in demand. Dore Step Real Estate Services has also seen a rise in interest for beachside condos, villas, and townhouses. Properties in Port. St. Lucie are rising in value. The city ranked #4 in the nation for housing prices with the largest price gains since 2017. Over the past 4 years, the median home sale price for homes has grown almost 58%, according to new data from Realtor.com.
About Dore Step Real Estate Services: Dore Step Real Estate Services in Port Saint Lucie, FL offers a leading-edge approach to marketing and a clear understanding of the real estate process and are dedicated to helping clients through the complexities of real estate contracts, negotiations, inspections, due diligence, and the entire escrow process. Whether you’re a buyer or a seller, the goal is to represent your best interests. Dore Step Real Estate Services aims to get buyers to get the best deal on a property and sellers to get the most money for their property. www.dorestepre.com.
Source: EIN Presswire