Palm Bay is named for all the Sabal Palms bordering Turkey Creek mouth. They are some of the most sought after palms in the country. The wildlife, fresh water springs and the abundance of oysters enticed the first settlers to claim this land. The Palmetto palms have a cabbage in the center that only a few native Floridians know how to cook it. Palm cabbage salad is a real treat. Keep that in mind when you go to the local establishments.
Here are five reasons to invest in Palm Bay, FL land for sale:
Land Prices Are More Affordable Than Ever
Theres no better time than now to invest in land, and you dont need a big budget to do it either.
In Palm Bay, you can find parcels of land for as little as $3,000 to $5,000. Compared to other areas of Florida, thats a steal. Larger parcels are available as well as waterfront lots, so theres something for everyone in this charming town.
With cheap land in Palm Bay, Florida, your investment wont cost you your life savings. The best part? Many of these plots are buildable, so you can build your dream home or rental property right away.
Home Prices Are On the Rise
Land for sale in Palm Bay, FL gets snatched up quickly. Why? Because home prices are on the rise. According to Trulia, the median sales price for homes in Palm Bay is up 9.6% compared to last year. Right now, the median sales price for homes in Palm Bay is $103,000, which is up $9,000 from 2014.
Rising home prices are a sign that the market is recovering, and unemployment rates are on the decline. This means more people will be looking to buy homes in Palm Bay, and theyll be willing to pay higher prices for them too.
Of course, some neighborhoods are bigger movers and shakers than others. In Palm Bay, those communities are Bridgewater at Bayside Lakes and Sleepy Hollow. Both have seen significant increases in their average listing prices at 32.3% and 12.3% respectively. These are the neighborhoods you want to buy land in if you can get your hands on it.
With home prices in Palm Bay on the rise, nows a good time to invest in land and start developing.
Palm Bay is Safer Than Surrounding Cities
Palm Bay is safer than other cities in Brevard County. Just 3.33% of the towns population is affected by property crime. Thats lower than both Brevard County (4.01%) and the state of Florida (3.99%). And when it comes to violent crime, just 0.64% of the population is affected, which is also lower than Brevard County (0.8%) and Florida (0.71%) as a whole.
There are two public schools in Palm Bay, Bayside High School and Port Malabar Elementary School, which are both well-rated by parents.
Why do all of these statistics matter? Because youll have a much easier time finding buyers if you purchase and develop land in a safe area. Great schools are also a major attraction for buyers with kids or couples who are thinking of starting a family. And if youre building your dream home, it will give you peace of mind in knowing that your family and home are safe.
Location, Location, Location
Its hard to beat Palm Bays location. Situated on the eastern coast of the state, Palm Bay is conveniently located near Melbourne Beach. Shopping, dining, golfing and other outdoor activities attract visitors to the area each year.
From snorkeling or scuba diving to kite boarding lessons are available and affordable. With oyster season soon approaching, scuba diving is a lucrative skill. The more water sports you participate in the more you want to live near the water. You can enjoy an eco-tour by kayak or rent one for your own personal adventure. There are several museums and parks for folks who choose not to get their feet wet, so tourists never get bored here.
The night time is embellished with a bar or pub to match anyones preferences. The dining and dancing takes over for a fun filled evening for all. Fine dining or a simple seafood diner is yours for the choosing, but dont forget they have fresh fish and crabs at their fingertips.
As for the weather? Palm Bay boasts an average temperature of 60 degrees Fahrenheit in January and 80 degrees Fahrenheit in July and August. If youre looking to escape those cold winter months, Palm Bay is the place to do it.
Like other parts of Florida, Palm Bay boasts a great climate and natural beauty that attracts retirees, nature lovers and water sport junkies. With more than 300 days of sunshine each year and in close proximity to some of the states popular tourist attractions, Palm Bay is a smart place to buy land.
5. Multiple Profitable Opportunities
Youll find plenty of vacant land in Palm Bay FL, and that land can provide you with opportunities to generate a profit.
- Land parcels can be purchased, divided up and sold.
- Residential land can be developed, and the property can be sold at a much higher price.
- Commercial land can be developed and leased to local businesses.
When it comes to land investment, Palm Bay, FL offers multiple opportunities to purchase parcels of land at affordable prices. In many cases, you can purchase more than one lot at a time for one low price.
With a favorable climate and rising home prices, Palm Bay is a smart place to invest. No matter whether youre looking to build your dream home or make an investment, Palm Bay has something for everyone from shopping and dining to beaches and golf courses. And with land prices at an all-time low, theres no better time than now to buy land in Palm Bay.