Are you wondering where the hottest real estate markets are in Florida? According to the latest report by Redfin, there are ten cities in Florida that are heating up and have a competitive housing market. Many of these cities are located in Central Florida near Tampa or Orlando. These are the most competitive real estate markets in Florida right now according to Redfin.
Hottest Real Estate Markets in Florida
1. Pasadena Hills, FL
Pasadena Hills, located just 21 miles away from downtown Tampa, is a real estate market that is currently booming. The median sale price of a home in Pasadena Hills was $408,000 last month, which is an increase of 7.8% compared to last year. The median sale price per square foot in Pasadena Hills is $197, which has gone up by 2.9% since last year.
On average, homes in Pasadena Hills are sold for about 1% below list price and usually become pending in around 19 days, and are sold after 36 days on the market.
In February of this year, 51 homes were sold in Pasadena Hills, which is a slight decrease from the 52 homes sold last year. New York homebuyers showed the most interest in moving to Pasadena Hills, followed by those in Washington and Chicago.
2. Alafaya, FL
The housing market in Alafaya is currently hot. Alafaya is located in Central Florida, only 10 miles away from Orlando. It is particularly popular among homebuyers from New York, followed by those from Miami and Washington.
Typically, homes in Alafaya sell for approximately 2% less than their listed price. In the previous month, the median sale price of a home in Alafaya was $470,000, representing a 9.3% increase compared to the previous year. The median sale price per square foot in Alafaya is $228, which is a 2.2% increase compared to the previous year.
On average, homes in Alafaya are sold after 19 days on the market, compared to 52 days in the previous year. In February of this year, 55 homes were sold in Alafaya, which is an increase from the 49 homes sold in the previous year.
3. Carrollwood, FL
Carrollwood, located just 7 miles away from Tampa, is another hot real estate market. The median sale price of a home in Carrollwood rose by 4.6% compared to last year, reaching $396K last month. Similarly, Carrollwood’s median sale price per square foot is now at $249, representing an increase of 4.2% since last year.
On average, homes sell for roughly 2% below the list price and go pending in around 31 days. After an average of 46 days, homes in Carrollwood are typically sold.
Carrollwood is a popular place to move to for New York homebuyers; it was the most searched metro in Florida. It’s also very popular among Washington and Chicago homebuyers.
In February of this year, 42 homes were sold in Carrollwood, an increase from 36 sold during the same month last year.
4. Town n’ Country, FL
Town ‘n’ Country, near Tampa, is in a competitive housing market. The median price of a home sold in Town ‘n’ Country was $415K last month, which is 22.1% higher than the price of homes sold last year.
The median price per square foot of homes sold in Town ‘n’ Country is $242, which is 4.3% lower than the price of homes sold last year. On average, homes in Town ‘n’ Country sell for around 2% less than their listed price and are pending for about 30 days.
New York homebuyers showed the most interest in moving to Town ‘n’ Country, followed by those from Washington and Chicago.
5. Bartow, FL
Bartow, in Polk County, has a hot real estate market. It is located 38 miles away from Tampa and is a popular destination for New York homebuyers who are looking to relocate to Florida.
The median sale price of a home in Bartow was $306K in the previous month, showing an increase of 1.0% since last year. The median sale price per square foot in Bartow is $167, which has risen by 3.1% since last year. Homes in Bartow tend to sell after an average of 23 days on the market compared to 62 days last year.
The number of homes sold in February this year was 51, which is slightly lower than the 55 homes sold last year. On average, homes in Bartow sell for about 2% below the list price.
6. Pinellas Park, FL
Pinellas Park, in Pinellas County, is another hot real estate market in Florida that is located only 6 miles from St. Petersburg and 17 miles from Tampa.
The median sale price of homees in Pinellas Park was $326K the previous month, an increase of 8.7% from the previous year. The median sale price per square foot in Pinellas Park is $248, up 10% from last year.
Generally, the homes in Pinellas Park sell for about 3% below the list price. It takes around 28 days for homes to go pending and 64 days to be sold on the market, compared to 32 days last year. There were 51 homes sold in February this year, which is a slight decrease from 56 last year.
New York homebuyers are the most interested in moving to Pinellas Park, followed by Washington and Chicago.
7. Deltona, FL
Deltona, which is located 26 miles from Orlando, is a highly sought-after real estate market in Central Florida. It is a city popular among New York homebuyers who are looking to relocate to Florida.
On average, homes in Deltona receive four offers and sell within approximately 50 days. Last month, the median sale price of a home in Deltona stood at $319K, marking an increase of 4.8% from the previous year. The median sale price per square foot in Deltona is $206, up 3.8% from last year.
Last year, homes in Deltona typically sold after 56 days on the market, while now they sell after 50 days on average.
In February, 109 homes were sold in Deltona, which is down from 136 homes sold during the same month last year. On average, homes in Deltona sell for about 1% less than their list price.
8. Zephyrhills, FL
Zephyrhills, located in Pasco County and just 26 miles away from Tampa, is experiencing a competitive housing market. On average, it takes 35 days for a home in Zephyrhills to sell compared to 52 days last year. In February this year, 107 homes were sold in Zephyrhills, up from 68 last year. The average homes sell for approximately 2% below list price.
Although home prices have gone down compared to last year, the median sale price of a home in Zephyrhills was $273K last month, which is a decrease of 14.7% since last year. The median sale price per square foot in Zephyrhills is $169, which is down 6.6% since last year.
New York homebuyers searched to move into Zephyrhills more than any other metro, followed by Washington and Chicago.
9. Apopka, FL
Apopka, located just 12 miles from downtown Orlando, Florida, is a highly sought after real estate market. It is particularly attractive to homebuyers from New York, who are searching to move into Apopka more than any other metro.
On average, homes in Apopka receive 2 offers and sell in about 37 days. The median sale price of a home in Apopka was $435K last month, which is a 10.0% increase since last year. The median sale price per square foot in Apopka is $207, which is up 2.2% from last year.
Compared to last year, homes in Apopka sell after an average of 37 days on the market, which is faster than last year when it took 55 days. There were 107 homes sold in February this year, which is an increase from 86 sold last year. On average, homes in Apopka sell for about 2% below list price.
10. Lakewood Ranch, FL
Lakewood Ranch is a planned community near Tampa. It’s a popular place to move to attracting many homebuyers from Chicago, followed by buyers from New York and Washington.
The median sale price of homes in Lakewood Ranch was $620K last month, which is the same as last year. On average, homes sell for about 2% below the listed price. The median sale price per square foot in Lakewood Ranch is $299, which has increased by 0.3% since last year.
In general, homes in Lakewood Ranch sell after being on the market for 67 days, which is one day longer than last year. The number of homes sold in February this year was 185, which is an increase from 146 sold last year.
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