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When a housing market has a supply increase like that, it tends to decreasehome prices.
But whats true for the state overall isnt necessarily true for every metro area.
Take, for example, the following Florida cities.
Heres a look at six Florida housing marketsthat have seen explosive sale price growth over the past two years.
Lauderhill
Lauderhill home prices are up an impressive 62% compared to this time last year.
The median home now sells for about $275,000.
So whats causing this growth?
One answer is the citys location.
Its an 8.5-square-mile city within theFort Lauderdale metro area, according to its official website.
Its even home to a few professional sports teams, such as the Stanley Cup-winning Florida Panthers.
Like Lauderhill, Coconut Creek has benefited from the ongoing growth of Floridas major cities.
As more and more people move to the area, many are settling in communities like Coconut Creek.
These places are close enough to the big city to make commuting reasonable.
But they offer much lower housing prices than Miami and Fort Lauderdale proper.
Estero
Estero is another Floridian city experiencing persistent growth in housing prices.
The citys median home now sells for $560,000, up about 21% year over year.
Its located between Naples and Fort Myers in the southwestern part of the state.
Esteros population is relatively tiny, at around 38,000, according to World Population Review.
Pembroke Pines
Pembroke Pines is another place you might not be able to afford soon.
Its median home sale price has grown 24.6% year over year, now sitting at $530,000.
Its median home sells for $895,000 more than double the price of Coconut Creek.
Maybe you want to live near Miami but dont like the idea of buying a home in the city.
If so, Weston would be a suburb to consider now before prices increase further.
Ocoee
Redfin calls Ocoee one of the most competitive housing markets in all of Florida.
Its median home sale price sat at $430,000 in July 2024.
Ocoee is a suburb of Orlando with a population of just under 50,000, according to its official website.
However, things can change quickly.
A few unusually busy months of buying and selling could easily skew the results.
You may be able to get a deal in your dream Florida location sooner than you think.
*Housing market data sourced from RedFin, unless otherwise stated.
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