Out-of-State Buyers Put 4 of Top 10 Metros of Interest in Florida

Florida is, and has always been, a top place to move for homebuyers from other states - particularly from the northeast and midwest. The warm weather, sunshine, and sandy beaches have always called to those seeking to get out of the snow. Recent reports, however, are showing that this demand to move to Florida is steadily growing, and into more Florida markets than ever before. We have heard this period being called “The Great Reshuffle,” as millions of Americans have been re-evaluating their living and working situations as a result of the pandemic and lockdown situations. This has been growing into the real estate event of our lifetime, leaving many real estate markets across the country completely changed. It seems as if some of the biggest changes will be felt across Florida markets for years to come.

Real estate giant, Redfin, conducted an analysis of data taken from millions of home searches performed on their platform to determine what metropolitan areas are receiving the most interest, and where these buyers are thinking of moving from. Their report has been compiled using detailed and specific data from two million users. The search field included 111 metropolitan areas across the country during the fourth quarter of 2021. The analysis included only serious buyers by requiring specific user criteria. Users must have viewed at least ten properties in a particular city, and that city must have made up at least 80% of their searches. This is what was considered to equate to a “serious buyer.” All users who did not meet this criteria were considered to represent buyers who were not likely to result in an actual purchase, and were thus excluded from the study results.

Using this process to compile results, Redfin has come up with the top 10 metropolitan areas of interest in the United States. The results are clear - Florida is the place to be! Four Florida cities are included in the top 10 most desired cities in the country, including one Florida city taking the top spot! Miami came in at the #1 city on the list. This should be no surprise when considering the amount of businesses relocating or expanding into the Miami market. Other Florida cities that made the top 10 were Tampa at #5, Cape Coral at #7, and North Port at #8. According to the search history, the majority of buyers were coming from the New York and Chicago metropolitan areas. Clearly the demand across Florida will continue fueling these already booming markets.

Rounding out the top ten most desired cities in the United States were Phoenix, Las Vegas, Sacramento, Dallas, San Antonio, and Atlanta.

As the demand for Florida homes continues to thrive, the Florida Keys real estate market is expected to continue being a hot spot for buyers from around the country! Homes for sale in the Florida Keys are hugely popular, and with the supply dwindling, the market remains competitive and highly fluid.