Florida Real Estate Appreciation Rates For 10 Years

A post-pandemic world necessitates that the state of Florida deal with the fact that pricey housing can in certain respects impede economic growth and have an unequal impact on critical segments of the population. Florida has had some of the strongest housing appreciation rates in the country over the past decade.

Over the past decade, Florida's real estate has risen 282.35 percent, which equates to an annual home appreciation rate of 6.14 percent, according to the data collected by NeighborhoodScout. If you are a house buyer or real estate investor, Florida has been one of the finest long-term real estate investments in the United States over the past decade.

Florida’s housing market mirrors larger national trends, albeit with some regional variation. An imbalance between demand and supply has fueled rapid home appreciation across the state. The real estate appreciation rate in the Sunshine State in the last two years (Between 2020 Q3 – 2022 Q3) has been 53.28 percent. Considering the most recent twelve months tracked by them (2021 Q3 – 2022 Q3), Florida's home appreciation rates continue to be among the highest in the United States, at 26.35 percent.

The quarterly appreciation rates (Between 2022 Q2 – 2022 Q3) in FL were 4.36 percent, which amounts to an annual appreciation rate of 18.60 percent. However, high mortgage rates are pushing a lot of buyers out of the market, which can present opportunities for those who are staying in but it will also moderate the rate of appreciation over the next twelve months.

As of December 31, 2022, the typical value of homes in Florida is $404,939 (Zillow Home Value Index). Florida home values have grown by 19.9% over the last twelve months and the median days to pending is 27.

  • The median sale-to-list ratio is 0.983
  • 18.1% Percent of sales over list price
  • 61.8%Percent of sales under the list price

Within Florida, Tampa Bay has one of the most overpriced housing markets in the nation, according to new research from Florida Atlantic University. Extremely low mortgage rates drove our red-hot housing market, particularly during the epidemic, and intensified bidding wars. Lakeland ranks 12th nationally, and second in the state, with homes overvalued by more than 53.2%. North Port-Sarasota-Bradenton is No. 17 nationally, fourth in the state at 48.9%.