Created on Friday, January 09, 2015
Updated on Monday, February 26, 2018
by Land Century
Florida Real Estate Market
Interestingly enough, the inventory of land for sale in Florida is rising. People seem to be selling their property at a growing rate, but whats really interesting is that real estate value is also rising in the Sunshine state.
According to statistics from July 2014, Florida is seeing:
- 5 percent increases in homes closed
- 3.6 percent increase in home prices
- An average single-family home value of $185,000
Forecasts show that the market is now settling. What does this mean? In the months of June and July, there was a 5.5 month-supply of homes in the state. When the supply numbers stay the same, the market is beginning to settle.
Many forecasts are optimal and suggest that Florida home prices will surge upwards just as they did prior to the real estate bubble.
For anyone that owns land, this means that the more people moving into the state, the more precious your land will be.
Low Property Taxes
Property taxes will vary from one county to the next. In fact, its always a very big consideration when buying land. Owners will need to consider that the lowest tax rate is in Walton County at 9.7536. The county with the highest property tax in the state is Alachua at 23.443.
What does this all mean?
- People in Walton will pay $9.75 for every $1,000 that there home is worth. A $100,000 home value would mean that youll pay $975 per year in taxes.
- People in Walton would pay $23.4 for every $1,000 that their home is worth, or $2,340 for a $100,000 home.
If the property value is low, this is a negligible factor. Anyone that owns just land may be able to pay under $100 per year in property tax which is very low.
Looking at New Jersey as an example, some homes in New Jersey cost $300,000 and owners pay $10,000 a year in property tax.
Cheap and Wholesale Land
Cheap Florida acreage is available. Beautiful lots of land that you wouldnt expect at such a low price can be found. With the market rising, many people are trying to unload properties at extremely low prices. So, what can you expect?
- 1 acre lots in Jackson County for under $4,000
- .25 acre lots ready to be built on in Lehigh Acres for under $4,000
- 1.23 acre lots in Brevard County for under $9,000
- Water front lots in Port Charlotte for under $12,000
Youll also find mega lots spanning 70+ acres in Floridas most prestigious areas, but these lots are several millions of dollars.
Most lots are just waiting to have a home placed. Paved roads and electrical hookups are available on most lots.
Florida acres for sale will vary in price greatly. Major factors include county and of course, how close the lot is to the beach. There are waterfront lots available.
Attractions and Weather
Florida offers opportunity to have fun in the sun at virtually every corner. A climate that is very mild, many counties in the state, such as Jacksonville, have average lows of 42.5 degrees with highs of 65.1 degrees in the middle of the winter. Further south in Miami, winter lows are 59.6 degrees and highs around 75 degrees.
Tourists are known to flock to the state during the winter to enjoy many of the fabulous beaches the state has to offer.
Attractions in the state include:
- Discovery Cove: An amazing underwater opportunity for marine life lovers.
- Universals Island of Adventure: Located in Orlando, this theme park brings movies to life with rides, games and fun for the whole family.
- Disney: Magic Kingdom and Disney World are another big attraction that will bring millions of people to the state every year.
- Safari Edventure: See wildlife like never before right in Miami. Safari Edventure teaches everyone about wildlife with up-close-and-personal experiences. Play with wolves, hold an alligator and more at the safari.
The best beaches in the world, popular bars and nightclubs and even the opera can all be found in Florida.
Florida is the hottest place in the country to buy land.