Study: 3 of the Fla. metros (Miami, Cape Coral, North Port) had more out-of-state than in-state searches on Redfin. With Tampa, most searches came from Orlando.
SEATTLE – Redfin says one out of three visitors (31.2%) to its listing website searched for homes outside their current metro area in the fourth quarter of 2021. That’s a slight drop from the first quarter of 2021 (31.5%), but it remains high compared to pre-pandemic numbers. In the fourth quarter of 2019, the percentage was 26.3%.
In Florida, however, the drive from out-of-state buyers to move closer to sunshine and sand continues to grow in Miami, and in the last quarter, four of the top 10 metros intriguing buyers were in the Sunshine State. The non-Florida metros include Phoenix; Las Vegas; Sacramento, California; Dallas; San Antonio, Texas; and Atlanta
Florida metros in Q4’s top 10 for out-of-state buyers
- Net inflow in Q4 2021: 11,931 compared to 4,204 one year earlier
- Percent of searches from outside Miami: 32.6% compared to 27.4% one year earlier
- Top search origin: New York City
- New inflow in Q4 2021: 7,678 compared to 4,873 one year earlier
- Percent of searches from outside Tampa: 46.4% compared to 56.7% one year earlier
- Top search origin: Orlando, with New York City the top out-of-state origin
7. Cape Coral
- New inflow in Q4 2021: 5,526 compared to 4,199 one year earlier
- Percent of searches from outside Cape Coral: 66.8% compared to 75.7% one year earlier
- Top origin: Chicago
8. North Port
- New inflow in Q4 2021: 5,362 compared to 2,946 one year earlier
- Percent of searches from outside North Port: 65.2% compared to 77.1% one year earlier
- Top origin: Chicago
According to Redfin, the migration analysis is based on a sample of about 2 million Redfin.com users who searched for homes across 111 metro areas in the fourth quarter, excluding searches unlikely to precede an actual relocation or home purchase. To be included a user must have viewed at least 10 homes in a particular metro area that made up at least 80% of their searches.
San Francisco, Los Angeles, New York, Washington, D.C. and Seattle made up the top metros for residents seeking something outside the city.
The full report is posted online.
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