Something is happening to the housing market in The Villages, Florida, and it’s got all the real estate professionals and investors paying very close attention. From a community that was developed for the sole purpose of providing the ideal environment for active seniors, the current market trends are something to look forward to. Both buyers and sellers are in for the ride of their life because investments in this census-designated area are bound to bring profits for years to come.
The census-designated area of The Villages, Florida, is located right in the center of the state enjoying that world-famous, incredibly comfortable weather of the Sunshine State. The fact that it isn’t located right on the coast means that hurricanes are less likely to reach it and also, summers don’t get too uncomfortably hot and humid.
The Appeal of The Villages
In The Villages, you get to simply enjoy the best quality of life available in Florida. However, something that you should be aware of is that while there is the age-restricted active senior community of The Villages, Florida, there is also the city of The Villages. These two entities might share a big portion of their acreage, but they don’t stop at the same borders. Taking a look at their distinct population numbers will make this fact more clear. Because, while the city of The Villages, Florida has approximately 79,000 residents, the community of The Villages, Florida has over 132,000 residents. Almost double the amount.
All those residents of both entities are interested in finding out as much as possible about the real estate market in the area. For that, they can get in touch with the local real estate agents in The Villages FL. With their help, potential newcomers can find out everything about the homes, the neighborhoods, the trends, and whether purchasing a property there is a good idea in the current market. Because The Villages, Florida is an ideal destination for active seniors.
With all the amenities provided specially designed for people older than 55, this community is like the adult version of Disney World, which is only one hour away, by the way. Everything you could possibly be interested in, from golf to theatre, artistic or fitness clubs, and everything else in between is available within the community. If you have a passion that you never managed to dedicate as much time as you wanted for, or an interest that was always in the back of your head but your 9-to-5 schedule made it impossible for you to pursue it, here you’ll have all the opportunity to do so. We will also give you the most relevant information regarding this booming housing market and try to figure out what makes it so stable and trustworthy.
What Market Collapse?
We are all aware of what happened to the housing market during 2008 and 2009. Many of us might be aware of the economical struggle because of friends or family members that encountered real issues during that period. Or worse, some of us experienced this first-hand. Now, for all those living in The Villages during that time, the economic impact wasn’t as traumatic. We’re not saying that the community’s housing market wasn’t hit by the Great Recession, but it bounced back much faster than the rest of the country.
Firstly, we have to acknowledge that The Villages, Florida spreads across three counties and these counties weren’t affected in the same way. The Villages metropolitan statistical area only consists of the areas within Sumter County. The parts of The Villages that belong to Marion and Lake Counties belong to another statistical area. We mention this because the Sumter part of The Villages was one of the least affected areas by the 2008-2009 recession while prices dropped by 9.1%. During the same time frame, the prices in the Marion County part of The Villages dropped by 20.6%, while Lake County experienced a 27% drop in housing prices.Read more mangadex
Now that we settled that difference between the distinct parts of The Villages, one thing that is true for all three is that while they each felt a hit during that time, they all bounced back in record time. If in 2010, prices in The Villages of Sumter averaged at $229,500, in five years’ time they were at $294,000, and by 2019 they reached $307,000.
Housing Market Strength
According to private lending company Hard Money Lenders, over the past 10 years, the strength of the housing market in The Villages, Florida stood out and grabbed everyone’s attention. Besides the incredible appeal the area has for seniors, it is also incredibly appealing for investors. While new constructions started to sprout throughout the villages of The Villages, FL the pace wasn’t accelerated which did not decrease the median home prices in the area. That incredible appeal holds the housing market up even when the general market comes across economic influencers that can have a huge impact on it. If you couple that with the calculated correlation between supply and demand, you get a housing market that secures itself. This is a basic truth of the economy that helped The Villages in preventing destabilizing values during economic struggles experienced throughout the country.
The flow of residents in The Villages is constant and as with other retirement communities, with the appeal that it has, chances are, it’s not going to change. Some properties have a higher appreciation rate than others, however, so if you’re looking for an investment opportunity that will likely bring you a bigger profit, take a look at the properties which are located on the golf courses. Also, The Villages of Marion County have one of the strongest housing markets in the nation. For more information click here youtuber streamer
Understanding an area’s housing market is the first step towards making an informed investment decision. For this, it is always better to take a second look at how that particular market managed to overcome past economical struggles. For this particular reason, we decided to focus on that aspect of the real estate market in The Villages, Florida.
Just an hour’s drive is enough to reach the sandy beaches and mesmerizing waters of the Gulf of Mexico. The constantly updated amenities will continue to attract newcomers and they will be kept up to the latest trends in recreational activities. Start looking at the homes developed within this community so that you don’t miss out on any opportunity available. visit the site beetv