Unlocking Local Real Estate: Opportunities and Insights in Florida

How much of your week do you spend wishing rates would come down? 😭

How many days are you reading that this is the most unaffordable market ever? 🤬

Are you thinking there's better industries to switch to? 🥵

The reality is there is opportunity everywhere.

You just have to start looking. 👀

Let's highlight some for you next!

Even More Proof That Local Matters

This graphic provides more evidence that real estate is all about location.

I zoomed in on the First Coast to take a look at home prices over time in the four main beaches in Jacksonville: Ponte Vedra Beach, Jax Beach, Neptune Beach, and Atlantic Beach.

The results were powerful when measuring the change in average price since 2017.

All of these beach areas outperformed Jacksonville and Florida over the same time period. 💪

This means that people who bought at the beach have enjoyed stronger returns on their investment - especially in Ponte Vedra and Jax Beach.

We can't ignore what stocks did over the same time period though.

The S&P 500 was up 93% so it's important to consider all options. 📈

You can't live in stocks, but they also have no maintenance or insurance.

This Was Not What I Expected

This chart really surprised me when the numbers were done crunching. ⚙️📊

I wanted to carry on the same type of analysis we did on the beaches and focus on the major metros in Florida. 

Initially, Ocala was the only standout market as I created the chart.

Home values in Ocala have gone up half as much as the other metros since 2017.

This could mean that Ocala is an undesirable place to live and signals an underlying issue with the city.

On the flip side, this could be a discovery of one of the best markets to consider investing in if you're looking for undervalued, more-affordable market.

I'll let you decide which you believe. 👍

Things got really surprising when I added the reference line for how much national home prices had gone up over that same timeframe.

Completely opposite of what I expected, Florida home prices hadn't gone up as much as the Case-Shiller National Home Price Index. 🤯

One explanation could be that home prices are higher in Florida so it takes more for them to increase as much on a % basis. 🤷‍♂️

Another option could be that home values actually have more room to grow. 🤩💰

What It All Means  

We know national stats don't apply to local markets.

Instead, they serve as measuring sticks we can use to compare how individual markets are performing.

We covered a range of markets here and by doing so, can potentially identify great investment opportunities.

Think of the search for affordability taking place right now. 🤔

Don't be surprised when people warm up to the idea of relocating to more affordable areas such as Ocala because their money goes further.

That's the same thing happening as people from New York, DC, Atlanta, Chicago, etc. relocate to Florida. 😮

The main point here is using data and analyzing what is happening across the different markets will identify opportunities.

Are you positioning yourself to benefit?

Seize the opportunity and have a great week! 🚀

Whenever you're ready, there are 3 ways I can help you:

1. Market Insiders Coaching Membership: Join an exclusive group of Realtors focused on becoming experts in their local market. This membership gives you access to monthly live coaching from yours truly, a member-only community for private updates and discussions, and additional resources to address clients questions and supercharge your business.
   
   
2. How to Use Market Stats in Your Business: Accelerate your business growth by learning how to use data. This course will help you more easily understand the market, improve your client presentations, and increase your conversion rate with clients.

   Rated 9.84 out of 10 for value to their business by 100+ Realtors.
   
   

3. Schedule a live presentation: Want to learn in person? I offer quarterly market updates and in-person training in the Jacksonville area. Just submit a speaking request and we can get it set up.