Housing market in NCFL
Cranes, construction crews and signs are spreading throughout North Central Florida along with economic and population growth.
A report conducted in April 2019 by the University of Florida's Bureau of Economic and Business Research estimates Alachua county's population at over 260,000 people. There was an upswing in home-buying activity at the end of 2019 and just last month new home construction rose by nearly 17% across the United States.
Greta Rice, a broker with Tioga Realty said, "but the market in Gainesville-Florida...Well, the United States is very encouraging. You've got the lowest mortgage rates in forever. I think I heard, last thing I heard was 3.64 for a thirty-year fixed rate."
The Town of Tioga is a neighborhood in Western Alachua county that reaps the benefits of the growing housing market. The community has approximately 450 homes and is in the works to double the number of homes with the development of Tioga village.
"Usually your markets pick up in real estate in this area in February, March. It used to be in April. We're starting to feel it right now. We're seeing a trend of mainly families coming in that want a community to raise their children in."
Rice added that in the next couple of years, Tioga village will bring the Town of Tioga to somewhere in the 1,000 to 1,200 range. This doesn't include the available lots and homes in phases 17, 18 and 19.
After 20 years of observing the market, Rice said she doesn't expect a decline in the market any time soon due to the combination of a healthy economy, low unemployment rates and upcoming opportunities in the Gainesville community.