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These days you can find real estate articles that indicate nationally, people are looking for smaller homes, but then again in Florida…luxury homes are still in demand. Statistics that 900-1000 people move to Florida a day is still true.
Fluctuating mortgage rates and low real estate inventories are having an effect on the industry.
IN CITRUS COUNTY HERE IS THE INVENTORY AVAILABLE FOR Black Diamond, Pine Ridge and Terra Vista. In order to get to the listings, you may have to page thru until you see 3 lines = at top so you can look at them in list view:
Black Diamond:
Btw: I have a client coming in to look at property in Black Diamond . I’m looking for maybe something that’s not quite on the market yet 2500+ square feet three bedroom, three bath, pool and golf course if possible or a pool can be built… let me know
Terra Vista:
Pine Ridge:
Smaller homes “in demand” are being built… from Florida Association of Realtors…
Homebuyers are increasingly looking to build smaller, more affordable homes. The average size of a new build home in 2023 felt to the smallest size since 2010. More than a third of builders say they built smaller homes in 2023 more than a quarter (26%) plan to construct even smaller homes this year according to NAHB. There has been a downward shift and buyer preferences for home sizes in the last 20 years. In 2003, the typical buyer wanted 2260 ft.² now that number is 2067 ft.². Builders are responding to this demand, especially to help with homeownership for families and affordable housing. Yet, builders face is supply-side challenges that continue to increase the cost of constructing homes, such as the scarcity of buildable lots, lack of skilled labor, and restrictive codes. The median price of new homes in 2023 was $428,200 down 6% from 2022.
link to full article:Buyers Preference Shifting to Smaller Homes | Florida Realtors
Luxury Florida Real Estate:
Buyers in Florida’s booming luxury market are seeking properties with smart home technology, access to nature and sophisticated security systems (especially Manatee and Sarasota counties). So what are the current Floridian luxury real estate trends, and why should we invest in this state? Read on to learn about the reasons why Florida continues to attract global buyers looking for premium living experiences.
Quotes and info from Islander News:
The increasing awareness of environmental issues among luxury homebuyers has increased demand for sustainable and eco-friendly homes. In Florida, this trend is seen in the rise in properties boasting energy efficient designs, renewable energy sources, and sustainable building materials. These homes contribute to a healthier planet while offering cost savings in the long run. The integration of Smart home technology is fast becoming a standard in luxury properties, maximizing convenience, security and efficiency. Automated lighting, climate control, security, and entertainment rooms are expected to feature in high-end homes. So, properties equipped cutting technology will see an increase in value attracting those who prioritize connectivity and automation. Luxury real estate is changing. Once unique and intricate designs catering to status over functionality, is now moving towards a more holistic definition of luxury, one that improves lifestyle with specialized amenities, like outdoor pools, gyms, and at-home spas.
Here is the entire article:Demand Remains High for Florida Luxury Properties | Florida Realtors
PROMO: While real estate is a good investment, here is a “plug” for investing your income and savings…
http://www.kaltura.com/tiny/9wbue (Raymond James)
Uncategorized •
April 6, 2024
