Multifamily Property Sales Going Strong

By January 21, 2013Traditions Property Blog

Since the economic struggle that struck so many home owners over the past several years, some aspects of the housing market have been recovering at a stronger rate than others. Particularly, the multifamily housing sector has been leading the way when it comes to economic growth in the housing market. Over the past several years multifamily homes have made up a strong percentage of property sales in Jacksonville, and with many foreclosure and short sales also available in multifamily communities, many people have turned to these smaller residences while waiting for their personal economic health to turn around.

Multifamily homes are 2 bedroom townhomes for rent, condominiums or apartments that are designed to permit more than one family to reside in one building. These homes are often smaller than single family homes, though there are many large, luxurious multifamily homes available all throughout Jacksonville.

Multifamily homes come with their own slew of benefits, for example:

  • Minimal to no lawn maintenance
  • Often less expensive than single family homes
  • Often provide greater access to amenities, including urban living style homes

Multifamily homes are available as property sales, foreclosures and as rental property management opportunities and are popular among families, the elderly and young college students. These homes are often more affordable than single family home for sale in the same communities as they are less square footage—and are generally built either on top of one another or side by side with very close vicinities.

Unlike other types of housing which are still struggling to sell in some communities, there is a strong desire for more multifamily homes throughout Jacksonville. Hundreds of thousands of multifamily homes are being planned for construction in 2013, providing new housing opportunities for those looking for places to live this year.

Many of the new construction multifamily homes will be put on the market as property sales, though there will also be many new rental opportunities available in the area, as well.

For more information about rental opportunities and property sales for multifamily homes in Jacksonville contact us.