Studying 100 markets, the paper from the College of Business at Florida Atlantic University analyzed the results. It comes as no surprise that housing demand rose substantially in 2021, with homes across the country selling for much more than previous data would suggest.
Buyers fleeing pricey coastal cities like New York and San Francisco, according to the study, are important contributors to the surge in Florida and elsewhere. Strong sellers markets have also been produced by rising demand and a limited supply.
Eight Florida markets rank among the top 50 nationally in a residential real estate category that, while lucrative for sellers, it doesn’t set well for the long term. The data point? Highest premium paid on an average home sale.
Note these are averages, and not specifically noted, and some may say included in the Jacksonville area. Ponte Vedra, and Ponte Vedra Beach, Florida where “The Players” tournament and “Nocatee” an extremely unique and one of the top twelve sought after communities in the nation! Has it’s own impressive data.
Naples Florida boasts that the Median Listing home price $590,000 up 31% Median home sold price: $545,000! Where as Nocatee Florida Median Listing home price in February 2021 $585,000 and February 2022 sold price is $790,000, approximately a 35% increase. Yes it’s true the St. John’s County Florida is a hot spot, shall I say an independent “Bubble in Northeast Florida” sustainable by their infrastructure, and rarely included separately in data completed by many major resources.
Note Boise, Idaho has seen the highest premium paid on an average home sale, according to Florida Atlantic University’s College of Business, with buyers paying a 78.4% premium over the expected home price.