Posted on 03/25/2024 5:42:20 AM PDT by Red Badger
A coastal Florida city is fast becoming a hotbed for wealthy movers attracted by its sandy coast and laid-back vibe.
Located on the western edge of the panhandle, Pensacola boasts 'the world's whitest beaches' and has seen a rapid swell of multi-million dollar homes.
It might not attract the same celebrity roster as Miami, which is home to the likes of Jennifer Lopez, Matt Damon and Ivanka Trump, but it's fast becoming a hotspot for wealthy sun-seekers looking for a beachside home in a state with no income tax.
The number of homes sold for more than $1 million in Pensacola has soared 220 percent since 2019, according to Gordon Miles, president of local brokerage Levin Rinke Realty.
Miles told the Wall Street Journal the pandemic housing boom sparked the beginning of a new luxury market for the western gate to the Sunshine State.
Despite rising mortgage rates, sales of premium properties in previously unheard of price brackets for Pensacola are soaring.
Last year, 250 homes sold for more than $1 million, compared to just 78 in 2019, in the city that is home to almost 55,000 people.
Ordinary family house sales have also rocketed in the metropolis, which currently sports a median sale price of $315,000 - or 58 percent more than the median of $199,575 in January 2019.
'I have multiple friends that just a few years ago bought houses for roughly $300,000 that now they can sell for almost $700,000,' Pensacola native and local photographer Dustin Williams told DailyMail.com.
Williams said the downtown area has 'grown pretty significantly' in recent years. 'Overall I'd say it's good for the community,' he said.
(Excerpt) Read more at dailymail.co.uk ...
Liberals NEVER, EVER equate their misfortunes with their voting habits.
If anything, they will DOUBLE DOWN on them...................
Expansion of the Redneck Riviera.
There's your real reason.
It was bound to happen sooner or later.
The Nashville crowd and Hollywood had this place an open secret for years..............
I can imagine that. Juno was one of the first towns in FL to put in red light cameras, only to have to remove them, and repay the fines.
Great town though. Probably 1/3rd preserved land w/ a population under 4,000.
Good enough for Ben Hogan in the winters.
Know that area very well...
Our Breakers are usually not that destructive of outside objects.
They have been known to rip mirrors and sinks off the walls and throw furniture off the balconies into the pools.
One hotel chain here will not accept anything less that a Platinum card at check-in. If you destroy the room, your daddy pays............
And snakes, Florida Man, no-seeums, grannies driving 50 mph in the left lane, tourist-choked restaurants, mold, iguanas falling from trees . . . the list goes on.
FL is full. Keep out!
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