Cape Canaveral, located on Florida’s “Space Coast,” is a coastal city known for its rich history, natural beauty, and the world-famous Kennedy Space Center. This city is growing and thriving, marking it as a prime spot for home buyers looking to invest.
The Cape Canaveral Real Estate Market
Situated on the Atlantic coast of Florida, Cape Canaveral provides an enticing combination of promising real estate prospects and iconic tourist attractions. The city boasts a robust and vibrant real estate market, featuring a range of properties to suit various tastes and budgets. From pristine beachfront properties to secluded inland homes, Cape Canaveral has something for everyone.
Despite the global economic uncertainty precipitated by COVID-19, the real estate market in Cape Canaveral continues to exhibit resilience. According to Zillow, as of February 2021, the median home value in Cape Canaveral is approximately $257,166, a 4.2% increase from the previous year. Moreover, the market predicts a rise of 3.2% within the next year.
The real estate market here appeals to both Florida natives and out-of-state individuals looking to enjoy the year-round mild weather and coastal lifestyle that Cape Canaveral provides.
Understanding the Home Values
In Cape Canaveral, there’s a blend of older homes full of charm and history alongside new constructions with modern amenities. A quarter of homes fall within the $300,000 to $400,000 range, making it ideal for mid-range home buyers.
The median price per square foot runs around $220, significantly higher than the Brevard County average of $165. This price difference underscores the appeal of Cape Canaveral, offering not only homes but an entire lifestyle.
Living in Cape Canaveral: The Lifestyle
Perhaps the greatest draw to Cape Canaveral is the unique lifestyle it affords. With the Atlantic Ocean at your doorstep, beach life becomes a reality. Fishing, boating, and surfing become weekend activities rather than vacation dreams. Plus, being home to the Kennedy Space Center, space launches are a regular spectacle, giving a sense of living in both the present and the future.
Beyond the beach and space center, Cape Canaveral provides a variety of other amenities. Boutiques, exceptional dining, and nightlife options abound, plus the presence of good schools and health facilities make Cape Canaveral an ideal residential city.
Buying a Home in Cape Canaveral
When buying a property in Cape Canaveral, it’s essential to understand the subtle market nuances. The city’s popularity as a tourist destination can potentially provide an extra source of income for homeowners in the form of vacation rentals.
However, due to the proximity to the Kennedy Space Center, certain areas are subject to aerospace noise, which should be a consideration for potential home buyers. Engage a well-versed local realtor who can help you find a property that satisfies your preferences and remains within your budget. Take your time and explore all available listings first to find your dream home.
Conclusion
Cape Canaveral’s real estate market is as enticing as its sandy beaches and rocket launches. You’re not merely investing in a property, but in a lifestyle that will reward you with rich experiences and a diverse, welcoming community.
Before you dive in, familiarize yourself with the market trends and patterns, hire a trusted realtor, and make the most of the city’s housing prospects. Buying a home is a significant decision, but with the right approach, Cape Canaveral’s amazing housing market awaits you with open arms to support your real estate investment.