The summer of 2012 saw positive marks for the South Florida real estate market, according to a report from the Realtors Association of the Palm Beaches. According to the organization, home sales spiked 14 percent from last year, with home prices that were seven percent higher than the same time last year.
With the average home price in South Florida at $225,000, homeowners, realtors and economists welcomed the positive report, and claimed it’s open more indication of a promising market recovery. The Gold Coast, which consists of the coastline towns from Jupiter, Florida to Boca Raton, showed remarkable gains, and boasted low inventory and competitive pricing throughout. Reports state that there is less than a six-month supply of single-family homes in Palm Beach County. Real estate associates are labeling the area as a buyer’s market, as agents continuously report homes going under contract before they are shown.
Statewide, the numbers are similar. Home sales increased 5.3 percent from June 2011, and average home prices rose by 8 percent. Furthermore, the number of single-family homes for sale in Florida has dropped by 40 percent over the past year, evening out to an approximate six-month supply as well.
The release of this positive information reached the press the same week a survey conducted by an industry-analyst firm showed a boost in confidence among homeowners who believe property values will continue to rise.
The positive outlooks come at no surprise to U.S. Immigration Fund, an EB-5 Investment Visa firm representing five developments in Florida.
The ESI Jupiter Technology Park is expected to house approximately 10 companies engaged in science research and biotechnology industries, and create over 700 jobs total. Also located in Jupiter, Florida, is the U.S. Immigration Fund project Harbourside Place. This multi-use facility will host shopping, dining, entertainment and housing, and create over 2,400 jobs over the next three years. These projects, as well as Water Point, another multi-use real estate space, are supported by the Town of Jupiter and other local and state representatives.
From Jupiter and Tequesta, Florida, U.S. Immigration Fund projects span south to Boca Raton, where investors and developers are creating Via Mizner, a brand new, ultra-luxury boutique high rise residential tower in the heart of Boca Raton. The development is estimated to be completed by January 2014, and expected to command some of the highest effective rents in the city.
This report was brought to you by U.S. Immigration Fund. Established as an agent of the 1990 Congress-approved EB-5 Regional Center Program, the firm represents EB-5 investment-related projects in Florida, New York, and North Carolina. U.S. Immigration Fund works with foreign investors and their families to obtain EB-5 Visas and permanent residency in exchange for investments in community developing and economy boosting campaigns.
For m ore information on EB-5 Visas and the EB-5 Visa Program, to learn about US. Immigration Fund or to speak with a representative, visit visaeb-5.com.