Where Are All These Buyers Coming From?
Our market is flooded with buyers—here’s where they’re coming from.
We are in an incredible seller’s market right now—inventory is historically low, properties are selling within days of being listed, and we have twice the typical number of buyers in the market. So where are those buyers coming from? It’s not from Canada, as they’re still on lockdown and people aren’t crossing the border.
We typically get a lot of buyers coming from the Northeast—New York, New Jersey, Pennsylvania, etc. Considering where they come from, it’s not hard to see why this is such an attractive area for them. For one, ours is a homestead state, meaning our property taxes can only increase by 3% each year. There’s also no income tax in this state, so those in the northeast who are retiring are moving here to avoid it.
We also get buyers coming in from South Florida, including places like Broward, Palm Beach, and Dade Counties. They’re looking to take advantage of our great schools and hospitals, low traffic, and much more affordable price points.
A third source of buyers in the Treasure Coast is California. California has a high state income tax, and the cost of living there is relatively high; lately, property values there are through the roof. The median price to buy a small, single-family home in the greater California area is $600,000!
If you have any questions about the market or real estate in general, don’t hesitate to reach out to me. I’d love to help.