Josephine Godinez, PA
October 2011

Weston, FL Enjoys Largest Home Value Increase in US

October 28, 2011 by Josephine · Leave a Comment 

That’s right, folks, Weston is #1 according to Zillow / Bloomberg / Businessweek (October 24, 2011). You’re welcome to read the entire article, but the important excerpt can be found below:

While there’s a lot of housing pain, there’s also some good news. That’s because in some markets across the country not only have home values improved, a few have even seen double-digit growth.

So where is this miracle occurring? Believe it or not, the city that has seen the biggest increase in home value is in Florida. That’s right—the state that has seen home values plummet 52.3 percent from 2006 peak levels. Nearly 96,000 loans were modified in Florida through August 2011 under President Obama’s Making Home Affordable program. Joblessness, foreclosures, and high inventory hamper recovery in nearly every corner of the state, with rare exceptions. In this case, the rare exception is Weston, a high-income city of more than 65,000 people near Fort Lauderdale where the median home value has risen 15.1 percent to $280,000 from February 2009 to August 2011.

No. 1 - Weston, FL
Percent change: 15.1
MSA: Miami-Fort Lauderdale, FL
Population: 65,333

The country’s top-performing housing market since President Obama took office: Weston, a luxury community near the Everglades in the Fort Lauderdale area. The city has been home to such pro athletes as former White Sox player José Canseco and the Florida Marlins’ Hanley Ramirez, according to real estate news site blockshopper.com. From April 2008 to April 2011, the population grew about 5 percent, estimates the University of Florida Bureau of Economics & Business Research. In 2006 Businessweek.com ranked Weston one of “The Best Affordable Suburbs” in the U.S. The median home value in the city was $280,000 in August, according to the Zillow Home Value Index, and as of Aug. 31, the median sale price was $335,000.

Josephine Godinez, PA