Fort Lauderdale real estate trends

The real estate market is always changing. There are many variables to consider if you want to invest in real estate. In addition to this, when you are moving with movers Boca Raton, you also need to a find suitable home for yourself. If you are on a strict budget, then you should pay attention to home prices and trends. On top of that, you need to pick your new city. Maybe Fort Lauderdale should be your new home. For this reason, here is everything you need to know about Fort Lauderdale real estate trends. 

Fort Lauderdale real estate trends vs Miami real estate 

Since Miami is the most popular city in Florida, it is only natural to compare the two. You cannot talk about Florida’s real estate trends without comparing the two. Although no one can say for sure if one city is better than the other, they still differ in some aspects. When you want to compare two cities, you need to take into account their schools, transportation, traffic, house market, etc. The results might be surprising. Fort Lauderdale has seen more sales than Miami in the first quarter of 2020.

The reason is simple. Fort Lauderdale has more waterfront homes listed at more affordable prices. Miami is bigger than Fort Lauderdale, and it is more popular as well. This increases the market value in Miami, especially of waterfront homes. Therefore, many people opt to purchase a beach house in Fort Lauderdale and let one of the companies that deal with moving and storage Florida help them get there. This city also has almost everything that Miami has. 

Best neighborhoods for waterfront homes 

Let’s start with the most popular real estate market.  

• Coral Ridge – probably the most popular neighborhood in Fort Lauderdale when it comes to waterfront homes. The reason is simple. This neighborhood has one of the best public and private schools, easy access, and the best location in the city. In addition to this, many young families move with children to this neighborhood.  
• Rio Vista – even expensive homes in Rio Vista are sold quickly. This just shows that this neighborhood is also insanely popular. If you want to invest in Fort Lauderdale real estate and you have a considerable budget, look no further than Rio Vista.  
• Bay Colony – this neighborhood is specific since it is expensive and affordable at the same time. Additionally, this neighborhood might be the most secure one as well. Therefore, if you value privacy and security over everything else, buy a house in Bay Colony. 

Fort Lauderdale real estate – apartments  

Some people prefer to live in an apartment rather than buying a house. Most people rent an apartment instead of buying one. Whatever the case might be, Fort Lauderdale also has a great condo market. You can find anything and everything that you want. In addition to this, when you are moving into the apartment, you have a different set of rules. You will have to call the building’s manager in advance to schedule your move. This means making reservations for a parking space and elevator. When movers from moving company Fort Lauderdale come to deliver your items, it would be convenient if they can use an elevator. In addition to this, you should up a notice about your move. Your new neighbors should appreciate a heads up. Be a nice neighbor from the start. 

Fort Lauderdale neighborhoods and their sales  

You should see how a few neighborhoods have fared in the first quarter of 2020. 

• Victoria Park – is close to all the important places in Fort Lauderdale. It also has great schools, cultural centers, beaches, etc. For this reason, it is quite popular that the price per square foot increased by 3%. 
• Rio Vista – this neighborhood has natural beauty with beaches, bridges, old trees, and so on. In addition to this, it is also one of the most luxurious neighborhoods in Fort Lauderdale. Still, rates have been steady so far. 
• Las Olas Isles – this neighborhood has one of the best buying opportunities, especially for single-family homes. 
• Coral Ridge – probably the best performing neighborhood. 
• Harbor Beach – it is also a gated neighborhood just like Bay Colony and quite popular as well.  
• Bay Colony – the most secure neighborhood and probably the most expensive one.  

What to consider about Fort Lauderdale real estate  

Fort Lauderdale is popular due to its location and all the benefits of the said location. Florida attracts many tourists every year. Therefore, buying a beach property would be a smart investment. You can always rent your beach property to tourists and earn money. In addition to this, there is no income tax in Florida. However, you need to consider environmental factors. For example, Fort Lauderdale has a problem with the aging sewer system. City officials have started to change it, but it will take some time. Another problem would be the rising sea level. Again, the city has ways to deal with this problem, but it can cause trouble. Lastly, you need to think about COVID-19. The virus has taken over the world in a short time. Many experts are not happy about the current economy which will influence the real estate market as well. 

Tentative predictions for the rest of 2020 

Again, it is hard to make predictions due to the unstable situation in the country. However, some tentative predictions are the following. 

• A rental property will be profitable – as mentioned before, it is smart to invest in rental properties.  
• Affordable properties – you will be able to find affordable properties in many neighborhoods.  
• Buyers – experts expect a slight decrease in real estate prices.  
• Economy – it is hard to tell, but many are trying to stay positive and believe in a strong economy. 
• Fort Lauderdale real estate – many believe it will stay strong and that there will be high demand for properties in this city. For this reason, do the proper market research, get professional help, and become a property owner in Fort Lauderdale.