3 Southwest Florida Cities Have The Most Expensive Homes In Florida
The price of just about everything has gone up, including home prices. 3 Southwest Florida cities now have the most expensive homes in Florida.
Buying a house stands, for most, as the largest purchase one will ever make. It can be an exciting time, but it can also be stressful, especially when it comes to figuring out how to pay for it. The down payment can take years to save up for and then navigating the mortgage process can be overwhelming as well.
From coast to coast, home prices have increased. In fact, last month the average home price in the United States reached an all-time high of $351,423. That marks a 1.3% increase compared to 2022. High mortgage rates are making things more difficult too, with the 30-year fixed mortgage rate currently standing at 7.19% (as of September 21).
Not just homes In Florida, housing costs have surged nationwide, but certain cities in the United States carry a heftier price tag than others.
There are many factors that can influence the value of homes. Things like location, size, age and condition. Stacker has assembled a list of the priciest cities for real estate in Florida, drawing upon data from Zillow. 3 Southwest Florida cities have made the list of the most expensive homes in Florida. Coming in at #6 is Boca Grande where the typical home value is $3.2 million with an astonishing 5-year increase of 113%. At #15 on the list is Captiva. The typical home value on the island is $1.4 million with a 5-year increase of 55%. Finally, at #22 is Miromar Lakes. Miromar Lakes is one of my favorite areas in Lee County. The typical home value is $1.2 million with a 5-year increase of 80%.