The top destinations in 2011 for Canadian homebuyers and investors were TampaSt Petersburg Clearwater 17 percent MiamiFort LauderdaleMiami Beach 15 percent OrlandoKissimmee 14 percent NaplesMarco Island 10 percent and Cape CoralFort Myers 10 percent. The rest of the state accounts for less than 35 percent of the Canadian money flowing into Florida. Housing Prices Rising Fuelled by foreign investment from Canada and Brazil, Florida has experienced a 4.7 percent increase in residential home prices.
What is happening in Florida has surprised many Canadians who believe the United States is still on sale and there is a huge supply of homes waiting for them to purchase. As the trend in rising prices continues, it is and will become harder and harder to buy an investment property in Florida at a discounted price. According to the Zillow Home Value Index, the high median price for the state of Florida as a whole was $264,000 in April 2006. The low median price of $120,000 was hit in September 2011. This is starting to recover, and as of March 2012, the index stood at $122,000. The following statistics, courtesy of Trulia, show the median sale price trends in specific cities in Florida over the last six months.