Tampa Bay’s 55+ niche real estate market and international cash sales driving our home sales

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Listen as Andrew Duncan talks about how the 55+ niche market and international sales are driving their home sales on The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay.

The state of Florida has had a population increase the past few years as compared to 2008 when they were losing population because of the challenges in the economy back then. Now, there are about 600 or so a day coming in to Florida. He mentioned that the next big niche markets are the snowbirds, baby boomers and 55+ market. A lot of builders cater to that audience and are now building communities around it.

Andrew has met a few builders since he's building a new home  center at the new office they are moving into in October. And he knows that segment will be a bit focused on Tampa Bay. The builders have been noticing that the buyers are around the 50's and 60's range looking for amenities like golf communities. He goes on to say that Tampa Bay builders might have taken notice to what's happening in The Villages and instead of letting the people leave, why don't they find solutions to keep them in Tampa Bay. Builders are targeting that audience to build around that demographic.

People from up north are also moving down to Florida causing the increase of population and driving the increase of million dollar sales because of the value that they could get for their money if they buy a home in Florida.

Andrew also mentions that people around the country are not the only ones taking notice of the prices of homes in Tampa. 25% of international investors buy a home in Florida. Though they are a small percentage of the population, they own 25% of international sales in the real estate market. He sites that in the Tampa - St. Pete market, 11% of their sales come from international buyers which is a huge segment of their market. The international buyers are seeing the benefits of purchasing in Florida instead of their own market. They get the appreciation value, they get the benefits, they get the use. Andrew said that they have had several all cash sales from international buyers recently so they are also considering the exposure to the international market.

For more Tampa Bay Real Estate news, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.

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