Don't fret... This North Florida Real Estate Market is the Real Deal
I’ve been asked by many people lately about the sustainability of the Jacksonville real estate market with a lot of concerns about artificial inflation of home prices. With the state of our current economy and a legitimate uncertainty based on a fluctuating stock market, it’s easy to understand why home sellers are nervous - especially after what happened in 2007. But this booming Jacksonville market is strong, steady and for the foreseeable future, here to stay.
North Florida has a lot to offer when it comes to real estate. Here are a few reasons why:
1. Amazon -
The company is opening their first regional warehouse on the northside, bringing not only thousands of jobs (and new residents), but also putting us on the map. Large companies that may have not considered North Florida before as a place to relocate are looking here now.
2. North Florida offers a bargain -
Not only does Jacksonville appeal to companies because it’s just a great place to live, land here is less expensive than some of our neighbors in say, Orlando or Atlanta.
3. PGA Tour -
The PGA Tour just announced that they’re building a brand new, larger headquarters in Ponte Vedra Beach, their current home, making room for more jobs. Nearly 300 high paying jobs are expected to be added in the near future.
4. Governor Scott is investing in Jacksonville transportation -
With a recent announcement that the Florida budget will allocate nearly $430 million dollars to northeast florida, we are investing in securing our spot as a global and national trade leader. Scott believes that transportation infrastructure plays an important role in helping support a booming economy, growing population and encourages tourism.
5. Demand continues to be greater than supply -
Even with a ton of new home construction in our area, the demand continues to outweigh whats available. People see the value in purchasing a home in North Florida and they act quickly. Homes are sold as quickly as they’re being built or put on the market.
The bottom line is, this is a sellers market. Months of statistics by the Northeast Florida Association of Realtors supports that. And it doesn’t seem that’s going to change anytime soon. There’s just not enough inventory. In the next few years, Jacksonville and the surrounding areas will see a greater population supported by high paying jobs and all that our area has to offer. Now is not the time to sit and wait.