As with the situation in much of Florida and other key areas in the US, inventory continues to remain low, which appears to be driving prices up. In the case of Florida, the five larger cites: Jacksonville , Orlando, Tampa, Ft Lauderdale and Miami have enjoyed moderate to higher than expected appreciation(for sellers) for a variety of reasons/economic data.
Focusing on much of Northeast Florida, the area which includes Duval and St Johns county has experienced dramatic new growth with some areas in St Johns county (just south of Jacksonville), experiencing some of the highest growth rates in the country for residential relocation.
Low interest rates continue to drive both purchases and refinancing. All good news for buyers and home owners alike who are seeking to maximize value vs. debt ratios.
All indications point towards a healthy and strong year for both residential and commercial real estate values, purchases and investment in Florida and Northeast Florida in particular.
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