The Florida vacation rental market is showing no signs of slowing down as we move further into 2024. With a substantial 85.2% increase in closed sales compared to November 2022, the market is buzzing with activity, offering a promising landscape for both buyers and sellers. This surge in new listings and growing inventory levels indicates a dynamic real estate sector, positioning Florida as a noteworthy player in the current housing market scenario. For vacation rental property owners, this could be the perfect time to invest in professional real estate photography to make their listings stand out and capitalize on the booming market.
The Perdido Key area is set to benefit from enhanced connectivity and accessibility with the completion of the Perdido Key Multi-Use Path, expected in fall 2024. This development aims to provide a seamless and safe route for both residents and visitors, promoting outdoor activities and easier access to local attractions. The path is part of a broader initiative to improve infrastructure and community well-being in the region, reflecting a commitment to sustainable development and lifestyle enhancement in Perdido Key
The vacation rental and real estate industries are at odds over the recently finalized bill, SB 280, which seeks to regulate vacation rentals more stringently. The bill has sparked intense opposition from vacation rental management companies and Florida Realtors, citing concerns over safety inspections, due process, and the potential impact on the tourism industry. The debate underscores the ongoing tension between the need for regulation and the rights of property owners, with Governor DeSantis’ decision eagerly awaited by all parties involved
Tools and Links
- KeyNest: Simplify key exchanges for your vacation rental with KeyNest’s secure service, ensuring guests, cleaners, or contractors can access your property effortlessly
Link: https://keynest.com/
Other News
- AI’s Impact on Vacation Rentals: AI and machine learning advancements are expected to revolutionize the vacation rental market in 2024
https://www.us.jll.com/en/trends-and-insights/research/top-global-cre-trends
Housing Market Stability: Despite economic challenges, Florida’s housing market is expected to remain stable with a positive outlook for 2024, offering fresh avenues for creative expression in real estate listings
https://www.floridarealtors.org/news-media/news-articles/2023/10/2024-housing-market-outlook-better-year-ahead
Vacation Rental Market Shift: A shift in the vacation rental market is causing some popular areas to remain unbooked, presenting a new challenge for owners
https://www.cbsnews.com/news/vacation-rental-market-shift-unbooked/
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Latest News: April 29 – May 10: Vacation Rental News
Senate Bill 280 (SB 280) Update
Week of April 15: Emerald Coast Vacation Rental News
Week of April 8: Emerald Coast Vacation Rental News
Week of April 1: Emerald Coast Vacation Rental News
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We primarily serve properties in these and nearby cities: Pensacola, Pensacola Beach, Gulf Breeze, Navarre, Navarre Beach, Fort Walton Beach, Niceville, WaterColor, Destin, Gulf Shores, Baldwin County, Orange Beach and Seaside