Forecast for the Florida real estate market in 2021

This week’s blog is about a recent analysis and forecast for the Florida real estate market in 2021. Mashvisor, an investment property analytics company, has recently written an article discussing the increase in property prices and the current inventory within the market. To begin, the year-over single-family unit home sales increased by 11.7% compared to July 2019. According to their Chief Economist Dr. Brad O’Connor, the main factors contributing to this surge is the pent-up demand from the failed spring buying season, as well as record-low mortgage rates. Since the interest rates are not expected to increase in the near future, the Florida housing market forecast is that demand will continue increasing well into 2021. The analysis continues by listing their “5 Best Places to Invest in Long-Term Rental Properties”, with Venice listed as #1. The median Venice property price currently sits at $412,105 with $239 per square foot. In the #5 spot, the median Bradenton property price currently sits at $406,129 with $197 per square foot. With a shortage in the supply of homes and continued rise in materials and labor, Florida home prices will continue to rise. These factors combined make the current market an opportune time to buy with confidence.

If you would like to know more about land or homes in the local area, be sure to make an appointment with Southwest Florida Dream Builders and save a spot for your dream home today!