Key Highlights
- Put Destin, Daytona Beach, Cape Coral, Riverside Avondale and Pompano Beach on your and/or your clients’ list if considering a move to Florida
- All five spots have sunshine and amenities domestic and international buyers want now
More to Florida than Miami Beach, Palm Beach, Fort Lauderdale and Orlando
Both domestic and international buyers are expanding their prospective horizons when considering relocating to and/or acquiring second/third homes in the Sunshine State. Take a look:
Destin – Beach Haven Combination of Southern Charm and Sugar-White Sand
This family-friendly, celebrity-packed, sugar-white sand beach fantasy that drips in Southern hospitality on the Emerald Coast of the Gulf of Mexico has both “unparalleled beauty and income opportunity,” according to Caleb Spears, a realtor with Scenic Sotheby’s International Realty.
Four Types of Housing Stock
Destin’s housing stock is composed of four types of waterfront homes: beach (on the Gulf of Mexico and most pricey), harbor (allows boats), bayou (allows boats) and bay (pontoons, fishing boats and jet skis). Most homes have two- or three- stories and can accommodate multiple families.
Sales Prices, Rental Prices and Non-Rental Communities Growing
Non-rental communities, such as Regatta Bay and Kelly Plantation, have golf courses, country clubs, pools and tennis courts, and yacht and boating clubs.
Spears said that the average price of home sales has increased +20% over last year. Additionally, rental returns generally garner a minimum of 10% gross annual income.
Riverside Avondale – Luxury Enclave of Jacksonville
Neighborhood on St. Johns River Known for Historic Mansions and Bungalows
Located in the northeast corner of Florida, the St. Johns River neighborhood is walk-able, the beaches and waterways beautiful, the golf amazing and the medical facilities “amazing,” said Janie Coffey, executive director of sales for the Coffey Value. Not only all that, “It’s more affordable than South Florida. You can buy something beautiful for so much less.”
Affluent Jacksonville Buyers Drawn to Riverside Avondale
Riverside Avondale is the historic district of Jacksonville. Many homes in the National Registry of Historic Places date back to the 1920’s. All of the homes have river frontage and represent ‘old Jacksonville.’”
Redfin Ranked Jacksonville as One of Most Competitive Cities in US in December 2020
Luxury home sales jumped +80% in three months ending last November! (Read that last sentence again.) Lux sales prices in Riverside Avondale are typically between $2M and $2.5M with no end in sight regarding appreciation.
The area’s four-season climate plus no income tax and lower property taxes than Illinois, New Jersey and New York) attract buyers from the Northeast, Midwest and South in addition to Floridians as well.
Best of Both Worlds
In many ways, Riverside Avondale living offers both Sunshine State living coupled with a bustling downtown Jacksonville just 10 – 15 minutes away.
Thanks to MansionGlobal.
