Palm Beach County and Fort Lauderdale among nation’s top single-family markets: report

Home prices rose 14.1% year-over-year in Palm Beach County; 8% in Fort Lauderdale

TRD MIAMI /
Apr.April 07, 2016 09:45 AM

Fort Lauderdale and Palm Beach County ranked among the nation’s five hottest single-family markets, according to a new report released Thursday by Ten-X.

Fort Lauderdale dropped from second to fifth place this year in Ten-X’s Top Single-Family Housing Markets Report for Spring 2016. Palm Beach County rose a few spots to land at No. 4. Seattle and Portland remained in first and second place, respectively, and Nashville was No. 3.

Other Florida cities also register spots on the list: Orlando at sixth place; Tampa at 11th; Miami at No. 19 and Jacksonville at No. 31.

Ten-X ranked the top 50 markets across the United States based on a combination of factors, including rising home prices, home appreciation, affordability and economic and demographic conditions.

According to the report, Palm Beach County experienced a 14.1 percent growth in home prices year-over-year, while Fort Lauderdale saw home prices rise by 8 percent. Home sales were up 2 percent and 1.7 percent in Palm Beach County and Fort Lauderdale, respectively, Ten-X found.

While both South Florida markets have bounced back from the economic downturn of a few years ago, home prices remain far below their peak levels, suggesting room for continued growth, the report said. At a median sales price of $247,000, Palm Beach County is still 18 percent below its peak. At $227,000, Fort Lauderdale prices are still 22 percent below their prior peak, according to the report.

“Palm Beach County and Fort Lauderdale embody the ongoing recovery effort seen in many Florida markets, leaving ample opportunity for future growth as housing fundamentals remain below pre-recession levels,” the report said.


Related Articles

arrow_forward_ios
Florida Allowing Gyms, Beaches To Reopen in Palm Beach

Florida governor to allow gyms and beaches to reopen in Palm Beach County on Monday

Florida governor to allow gyms and beaches to reopen in Palm Beach County on Monday
Alan Hooper, Tim Petrillo, The Forge

Urban Street Development scores loan for FATVillage loft project

Urban Street Development scores loan for FATVillage loft project
Native Realty’s Jaime Sturgis and the property

Flagler Village assemblage hits market for $8M

Flagler Village assemblage hits market for $8M
IT! Italy Ristorante Café & Bar, Steve Zack of Boies Schiller Flexner and Steven Marks of Podhurst Orseck

Fort Lauderdale restaurant sues Chubb, seeks class action over coronavirus business interruption claim

Fort Lauderdale restaurant sues Chubb, seeks class action over coronavirus business interruption claim
Gov. Ron DeSantis (Credit: Josh Brasted/Getty Images)

Safer-at-home effective in South Florida until mid-April

Safer-at-home effective in South Florida until mid-April
Atria Willow Wood

SoFla senior housing developers brace for coronavirus impact

SoFla senior housing developers brace for coronavirus impact
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Non-essential businesses ordered to close in Palm Beach and Broward counties

Non-essential businesses ordered to close in Palm Beach and Broward counties
Mayor Dean Trantalis (Credit: Larry Marano/Getty Images)

Restaurants, bars and gyms to shut down immediately in Fort Lauderdale

Restaurants, bars and gyms to shut down immediately in Fort Lauderdale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...