The Honest Broker: Can COVID-19 Drive New Residents to the Treasure Coast?
Historically, people begin to rethink where they are living if there is a significant change to their feeling of well-being. In late August 1992, Hurricane Andrew hit Miami and was the most expensive and destructive Atlantic hurricane in U.S. history (later surpassed by Hurricane Katrina in 2005). The devastation that it left in its’ wake drove masses of people to leave Dade County into Broward County because they feared another potential hurricane hit. In the past 10-20 years, Palm Beach County has seen a lot of growth due to increased migration from Dade County and Broward County. It is believed that the catalyst for this migratory trend into Palm Beach was due to overpopulation, congestion and an increase of crime in Dade and Broward. Hence, this gives credence that people will tend to move toward areas of more desirable living.
After observing the horrific numbers of cases, hospitalizations, and deaths from the Coronavirus in Dade, Broward and Palm Beach counties, will there be a trend to move from those counties into Martin and the Treasure Coast?
This is highly possible when the “crisis” is over and the people of those counties see that there is an alternative to living in highly populated cities and counties. We may again see a move northward from those communities to the very desirable communities of the Treasure Coast. Our area is wonderfully quaint and safe. If this influx of new residents does occur there would be an economic boom to our businesses and real estate market. Anecdotally, my phone hasn’t stopped ringing with inquiries for housing. My real estate business originated in Broward 15 years ago and had an extensive clientele and referral business. I’m currently hearing more and more from previous clients asking about our area and potential residency. Hopefully, the phone calls will increase our future closed sales.
Time will tell.
Stay well and stay healthy.
Diane Lott, Broker
Paradise Found Realty, Inc. of Palm City
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