Top 10 ‘Hot Markets’ for 2022? Eight Are in Fla.

Nellie R. Ortiz

A hotness study of U.S. metros – defined as days on market, sales above list price and sale-to-list price ratio – finds 8 are in Fla., and 7 of 10 are in SW Fla.

ORLANDO, Fla. – In a “hot” real estate market, listings sell quickly once they hit the market, they collect more offers above list price, and the amount above list price is higher than in cooler markets.

Based on that, Redfin analyzed sales in September 2021 to create a list of the hottest real estate markets heading into 2022, and eight of the 10 metros on 2022’s hot list are in Florida. In addition, seven of those 10 are in Sarasota County, one in Lee County and one in Broward County:

  • South Sarasota (Sarasota County)
  • East Venice (Sarasota County)
  • Englewood (Sarasota County)
  • Venice (Sarasota County)
  • Nokomis (Sarasota County)
  • The Meadows (Sarasota County)
  • Chatham, Cape Cod, Massachusetts
  • Weston (Broward County)
  • Lake Lure, North Carolina
  • Downtown Fort Myers (Lee County)

“The Sarasota area has changed radically over the past year,” says local Redfin real estate agent Eric Auciello. “Many of the towns surrounding Sarasota are exploding in popularity because so many people are getting priced out of Sarasota proper or moving in from out of state … A lot of the neighborhoods house hunters are flocking to have historically been retirement communities but are becoming younger with all of the first-time buyers and early retirees moving in.”

The pandemic likely played a part in explaining Florida’s current popularity. An outsized portion of the U.S. labor shortage doesn’t stem from younger people choosing not to work, so much as baby boomers – already part of a massive demographic – choosing to retire or, in many cases, retire early.

According to Redfin, more than half (50.3%) of U.S adults aged 55 and up had retired as of the third quarter of 2021, up from 48.1% two years earlier, and more than 3 million Americans retired early due to the pandemic. In the Sarasota metro area, 67.1% of home searches came from a different metro area.

Florida metro areas in Redfin’s top 10 hot list

South Sarasota, zip code: 34238

  • Parent metro area: Sarasota
  • Median sale price: $434,023 (+19% year over year, or YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 36%
  • Median days on market: 7 (-77 days YoY)
  • Housing supply (active listings), year-over-year change: -50%
  • Median views per listing, year-over-year change: +208%

East Venice, zip code: 34292

  • Parent metro area: Sarasota
  • Median sale price: $420,000 (+38% YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 53%
  • Median days on market: 4 (-48 days YoY)
  • Housing supply (active listings), year-over-year change: -25%
  • Median views per listing, year-over-year change: +173%

Englewood, zip code: 34223

  • Parent metro area: Sarasota
  • Median sale price: $427,500 (+38% YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 28%
  • Median days on market: 8 (-62 days YoY)
  • Housing supply (active listings), year-over-year change: -28%
  • Median views per listing, year-over-year change: +170%

Venice, zip code: 34285

  • Parent metro area: Sarasota
  • Median sale price: $305,000 (+5% YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 39%
  • Median days on market: 6 (-43 days YoY)
  • Housing supply (active listings), year-over-year change: -39%
  • Median views per listing, year-over-year change: +155%

Nokomis, zip code: 34275

  • Parent metro area: Sarasota
  • Median sale price: $475,000 (+32% YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 39%
  • Median days on market: 10 (-50 days YoY)
  • Housing supply (active listings), year-over-year change: -26%
  • Median views per listing, year-over-year change: +152%

The Meadows, zip code: 34235

  • Parent metro area: Sarasota
  • Median sale price: $275,000 (+20% YoY)
  • Median sale price of parent metro area: $300,000 (+7% YoY)
  • Share of homes that sold above list price: 41%
  • Median days on market: 5 (-25 days YoY)
  • Housing supply (active listings), year-over-year change: -24%
  • Median views per listing, year-over-year change: +178%

Weston, zip code: 33332

  • Parent metro area: Fort Lauderdale
  • Median sale price: $860,000 (+51% YoY)
  • Median sale price of parent metro area: $305,000 (+15% YoY)
  • Share of homes that sold above list price: 27%
  • Median days on market: 46 (-45 days YoY)
  • Housing supply (active listings), year-over-year change: -30%
  • Median views per listing, year-over-year change: +216%

Downtown Fort Myers, zip code: 33916

  • Nearby metro area: Cape Coral
  • Median sale price: $264,328 (+25% YoY)
  • Median sale price of parent metro area: $264,500 (+13% YoY)
  • Share of homes that sold above list price: 35%
  • Median days on market: 9 (-51 days YoY)
  • Housing supply (active listings), year-over-year change: -37%
  • Median views per listing, year-over-year change: +183%

© 2021 Florida Realtors®

Topics: trends

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