[Corrie22]

Give it time, they said the exact same thing about Homestead after Andrew....

...."it will never come back"

[kidyankee764]

Originally Posted by MOforthewin

Here in SWFL same thing. Houses go on the market and don't move, and then seeing price slashing after a month or so, especially on houses under 800k that typically have people take loans out for. Might be different further up the coast, but Lee, Charlotte, and Collier Counties the houses are not moving as much.

Maybe people are leery on roof damage. Houses can have damage that is hard to notice until rainy season starts or takes time to develop. Our house was like that after Ian. Just lost a couple shingles since our roof was brand new. Then a month later a nice rain storm and had a leak.

I wouldn't buy a house around here until after rainy season due to Ian.

In the storm surge areas of Ian people are reeling still, businesses struggling.

I went to Ft Myers Beach on a weekday 3 weeks ago and drove around.

It reminded me of the footage of Berlin right after the war ended. Rubble everywhere and just a few people milling around. Mostly saw some construction workers and a few locals. Otherwise everything wrecked still and saw hardly anything open.

The economy in the surge areas here in SWFL was crushed.

Do you have any stats to show the extreme slowdown you speak of? I’m just not seeing it.

[beach43ofus]

Florida's inflation is mostly housing based.

This benefits homeowners in Florida who bought in 2011-2022, during the rising market, because their property values have been rising, & continue to rise, although now at a slower pace.

Many homeowners have seen their homes values double, or even triple...based off comps.

It hurts newcomers who want to buy now..at inflated prices.

[MOforthewin]

Originally Posted by kidyankee764

Do you have any stats to show the extreme slowdown you speak of? I’m just not seeing it.

Numbers were down like 23 percent at the airport this march versus laalst march. Hotel revenue from taxes was also down. Nowhere to stay on sanible, ft. Myers beach, Captiva.

People further up the coast have no idea how bad it was in the areas that got surge in swfl. Ft. Myers beach and sanible bring in huge numbers typically.

[Corrie22]

guys, you have to put this ”Florida native” thing in perspective.....

as a percentage...which is what they go by....native Floridians just got diluted...that's all

In 1960....Florida's population was ~5 million

....now it's over 22 million

if not one of those native Floridians moved out of state.....they would still be less that 25% of the population...now

[NSHL10]

Welcome back Shekkie. Where ya been?

[NSHL10]

Only about 30 different user names.
Again, where ya been?
We were fearful with all your bitching you finally moved out of your "native" land

[Travelassie]

Originally Posted by Ghaati

Maybe it's just not an attractive neighborhood, or the prices are too inflated for the market. Or maybe the houses aren't in great condition.

At Middleton, they're still in the first stages of building, and many of the homes are already sold - and not even built yet. They go fast around here.

They go fast in this neck of the woods too.

We have no intentions of selling our house or any portion of the adjacent property, but we must get three queries/offers a week informing us they have clients ( or they themselves) want to buy our house. That includes people cruising in the area ( generally recent transplants) knocking on the door or approaching us when we are outside, and phone calls. My husband has told them we will sell for 5 million cash and I say we have no plans to leave until we are carried out in pine boxes.

[Phil P]

Seems like most of the cost it is trying to develop in a place that's stupid to develop that much where things have to be overbuilt and still no one will insure it. If y'all were building in South Georgia or like Gainsville area instead of a coastal sandbar, the COL would be much better. Jesus told y'all not to do that in the Bible - don't build your house on the sand... but no one listened.

[kidyankee764]

Originally Posted by Lincolnian

The housing prices in south Florida appear to have peaked. There are many houses/condos just sitting on the market now. Many sellers are still hoping to sell for top dollar but they are now trying to sell in a market that that is considerably different than last year when the prices reached their highs. Tight inventory still prevails in many parts of the country but that is not the case in many areas of south Florida since many of these homes are second homes. Interest rates have risen substantially yet asking prices have not adjusted accordingly. It is just a matter of time before prices start to fall.

Originally Posted by kidyankee764

I’d be curious to see the stats on this. A coworker’s house in Coconut Creek just sold at that all time high price within 24 hours. We have an investment property in Oakland Park and homes there are selling at price points of 400+ per square foot. It has slowed a bit but the prices haven’t taken the dive I expected them to.

Just an update to this - I was looking at the market update for Palm Beach and Broward Counties provided monthly by Compass. Days on market are up, but overall, the market is very steady and homes are still going for record prices.

Palm Beach County single family home median price declined slightly but is still at $1.13m, and condo median price increased to $526k.

Broward County single family home median price continues to increase and is at $834k, while condos decreased slightly and is at $362k.