So, how did the last month of Q3 hold up? Well, let's dive in, and I promise you will continue to see a cooling trend, but it is definitely not as strong as cooling as it was earlier in the year. Remember, even though this report was released in October, all the data that I have access to is from September. We also have Q2 2024 data that we are able to review and release. Now that you have a solid idea of what is happening in the Florida SFR real estate space, you can invest confidently whether you are a fix and flipper or a wholesaler. Whether you are a new construction investor or a buy-and-hold investor here in Florida, you now have sound market metrics to make wiser, more informed decisions. Should you need any guidance or investing consideration, please feel free to reach out and schedule a call with me, and I’ll be more than happy to discuss the market and where we are putting our capital.

Alright lets get into the Florida Single Family Residence market and see where the market is trending! As a high level over view, and this should be no surprise to my readers, the market continues to trend down. Slower and longer are the words of the month. Though for some investors this will come as a surprise, this is why you read my monthly Florida Market Update Reports. So that you stay on top of the trend and can make wiser more informed decisions right? Lets dive in.

Florida continues to offer some incredible surprises. We are near the end of summer and, we have not had a major hurricane yet! Thats a big relief, but not so much. Our “busy” season actually kicks off at the beginning of Sept through Oct, so we have yet to see what the weather holds for us. As far as real estate goes, there is some encouraging news, as well as not so encouraging, but we are not seeing any large corrections yet. Read below our MLS market updates as well the general Florida market update when compared to the rest of the nation in the second segment. I trust this month’s report brings confidence and some clarity about the real estate market, and how you as a real estate investor or as a passive investor, can take advantage of the information within this report to further your family’s generational wealth-building goals

We have officially wrapped up Q2 of 2024. The FED has indicated that inflation seems to be heading toward a more controlled target rate of 2% (if you believe that), which some analysts have stated means that there are up to EIGHT rate cuts being projected by these analysts… Mind you, these same analysts confidently and ardently stated that 2024 would see five rate cuts, and here we are in July 2024 and not one rate cut, so you can take that for what it is.

The market data from Q1 2024, shows a leveling off from a significant drop in Q4 2023. 2024 ended here in Florida with a pretty solid correction, but as you can see, the market has rebounded, and the correction was cut in half. My expectation as we enter the summer months is to see the trend continue to level out and improve to an overall positive integer as far as a percentage of change.

For investors in the Florida real estate market, knowing what the market is doing is critical to making the most informed and wisest investment decision. By subscribing to our Investors Club, you will gain insight into where the market has been and, therefore, be able to invest confidently in where the market is headed. By joining our investors club, you gain monthly insight into the latest data as it is published, and you will be wiser for it.

For investors in the Florida real estate market, knowing what the market is doing is critical to making the most informed and wisest investment decision. By subscribing to our Investors Club, you will gain insight into where the market has been and, therefore, be able to invest confidently in where the market is headed. By joining our investors club, you gain monthly insight into the latest data as it is published, and you will be wiser for it.

Some of you may be wondering, “So how in the world am I supposed to use this information? This scares the living daylights outta me!” I’m glad you asked. It’s important not to let these drastic “swings” in appreciation stop you or tell you investing in real estate is not optimal. It is. All this simply should tell you, based on a three-quarter trend (previous nine months), is how you should be adjusting your offers to purchase and your expectations of selling or refinancing. We currently have a loan against a beach renovation in Panama City. I will tell you right now that the investor who bought that property and is closing in on his ability to sell that asset will NOT be able to sell it for the proposed ARV he is expecting.

As we can see, the market is relatively stable in terms of average list prices. There are several MSA’s that we should keep an eye on in the coming months. The Cape Coral/ Ft. Myers MSA has grown steadily in A.L.P. over the last four months. This is a good thing. The Ft. Lauderdale/ Pompano Beach/ Sunrise MSA has seen a steady decline in A.L.P. There seem to be fluctuations for the rest of the state but no major movement outside of 5% in either increase or decrease in A.L.P. We will stay abreast of this and consider the two MSAs named above.

Needless to say the market, even here in once SUPER hot Florida, has indeed changed. We will be examining three main metrics every market update. These metrics will include heat map photos of the state of Florida with the data reflective of what is being aggregated from the Gov Census Bureau as well as from the MLS and ATTOM. By having this data at the tip of our fingers, I can stay abreast of short-term flexes in the market as well as long-term trends. You will enjoy the benefits of our study and due diligence.