SmartZip Port St Lucie Top 10 Real Estate Investment Market Report July 2009 - Presentation Transcript
TM
July 2009 | www.SmartZip.com
PORT ST. LUCIE, FL
Overview Key Investment Metrics
Port St. Lucie is equidistant from Miami (to Average SmartZip Score™ 70 Growth
the south) and Orlando (to the northwest). 61 Income
The city has transitioned from a residential Average Market Value: $118,986
community to one of Florida’s fastest
growing and dynamic cities. Recreational $68 per Sq. Ft.
opportunities are abundant in Port St. Lucie: 10-Year Proj. Appreciation: 46%
The beach is only a short drive away, with Average Monthly Rent: $1,065
water-related activities like fishing, canoeing,
Average Cap Rate: 1.9%
kayaking, surfing, sailing, as well as activities
at many public parks. 10-Year Proj. Population Growth: 40%
Port St. Lucie is home to the Professional
Golf Association (PGA) Learning Center, the
PGA Historical Center, and the PGA Golf Local Expert Insights
Professional Hall of Fame.
• Buyers are coming back (est. 50% investors)
Sports fans in Port St. Lucie can also enjoy • While the inventory level is down from the peak, there is
the Major League Baseball’s New York Mets still a lot of supply and approximately 80-90% of listings
Spring Training headquarters. are either bank-owned or short sale (3 to 1 ratio short
sale)
On the Map • Prices are still trending down, but at a slower rate of
decline, and are likely near the bottom
• Recommend zip code 34953 as it is a newer area with
lots of foreclosure activity, great location between major
highways
• Rental market is stable. Active to pending is 30 days on
average for a foreclosure, 60-90 days for a short sale
• Expect future job growth from biotech firms relocating to
the area
SmartZip's Analysis and insights into Port St Lucie more
SmartZip's Analysis and insights into Port St Lucie, FL as a fundamentally strong real estate market for investors and homebuyers, based on SmartZip's investment ratings and local insights less
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