Around the Nation -- Residential Real Estate Update - Florida
By Jeff Adolph
State-by-state
Located in the southeastern region of the United States with a total population of 15,982,378 Florida is the 4th largest American state by population.
The economy of this state consists mainly of agricultural products and tourism with spectacular coastal stretches and a warm inviting climate.
There are no personal income taxes payable in Florida and property tax is based on fair market value, and assessed annually. Some homeowners in this region are also eligible for a $25,000 Homestead exemption depending on their circumstances.
Classed as an active sellers market this area is typically selling homes within 30 days, and houses are in limited supply. the median price for this region hovers between $280-$340,000 and prices are up by 10-15% compared to last year. Housing hot-spots are waterfront properties and town-homes in Victoria Park. Buyers are receiving multiple offers and family homes are selling quickly, with condos and town-homes hard to find.
Key West
The median price for homes in this region hovers around the $740,000 mark and prices are up by 15-20%. Key West and lower Florida Keys are considered hot spots with homes in limited supply. There is a strong demand for properties by baby boomer's and retirees. Typically, homes are on the market for 90 days and multiple offers are being submitted with buyers getting 95-100% of their asking price.
LGBT Real Estate Facts: There are 41,048 same-sex couples residing in the region, making it the 4th gayest state in the U.S.A. The gayest zip codes are 33305 & 33304 & 33312 Fort Lauderdale - Five Points, Sunrise and New River, 33139 South Beach, 33040 Key West, and 33138 Little Haiti/Miami Shores. -- gaydemographics.com
Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com
Picture Source: wikipedia.org and visitusa.com
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And there are some of us in Orlando too! Thanks for your work in this important area and remember us here in Orlando if you have any relocations!
Best,
Marcus.
Posted by: Marcus Burke | May 08, 2008 at 05:53 AM
Hi thanks for your work in this important area! Orlando is pretty gay friendly too so remember us if you have any relocations!
Best wishes, and thanks!
Marcus.
Posted by: Marcus Burke | May 08, 2008 at 05:54 AM
I'm launching a new marketing campaign and would love to work with the LGBT market. Not sure if you are familiar with Wilton Manors but you did not mention it above.
Robin
Posted by: Fort Lauderdale Real Estate | May 16, 2008 at 09:27 PM