Researchers say that the 2012 results closely resemble those in 2011. It’s based on a survey taken by over 1,500 members of Florida Realtors.
The international real estate market – defined as non-resident foreigners who buy residential real estate in the U.S. – is important to Florida. Nationwide, 51 percent of all foreign sales take place in only four states – Florida, California, Texas and Arizona. Of those four states, Florida has the largest share: 26 percent of national sales to foreign buyers closed in the Sunshine State.
Overall, 19 percent of Florida home sales (by dollar volume) went to foreign buyers.
Report highlights
• Nearly all international sales were cash – 82 percent of transactions.
• The median price paid by international buyers was $194,700 compared to an overall Florida median price of $125,100 and a U.S. median price of $167,758.
• Canadian buyers tended to buy in the lower price range; European and Latin American buyers bought at a higher price range.
• Foreign buyers see the U.S. residential housing market as a good value, thanks, in part, to favorable international exchange rates.
• In the 2012 survey, Canadians led the way as United Kingdom buyers faded a bit. Brazil and Venezuela have increased as sources.
• Condos account for 45 percent of properties, townhouses 10 percent and detached single-family homes 36 percent.
• 61 percent of surveyed Realtors said that they worked with an international client in the past 12 months, down from 77 percent.
