• Home
  • What Makes a “Waterfront Specialist”?
  • Buyers
    • Buying or Selling a Luxury Home
    • What You Should Know About Short Sales
    • What You Should Know As a Buyer When Attending an Auction
    • Who To Consider When Buying a Home?
  • Sellers
    • Buying or Selling a Luxury Home
    • What to Look for in a Realtor When Selling Your Home?
    • What You Should Know About Bank Owned Properties
    • What You Should Know About Short Sales
  • About Us
    • Contact Us
    • Privacy Policy
  • Testimonials

The Gary Cardillo Group

Your Punta Gorda Waterfront Specialists

  • Office Listings
  • Homes for Sale
    • Port Charlotte Homes
    • Punta Gorda Homes
    • Punta Gorda Isles Homes
    • Burnt Store Isles Homes
    • Englewood Homes
    • North Port Homes
    • Sarasota Homes
    • Venice Homes
    • Waterfront Homes
      • Sailboat Homes
      • Canal Homes
    • Newly Listed Homes
  • Condos for Sale
    • Port Charlotte Condos
    • Punta Gorda Condos
    • Punta Gorda Isles Condos
    • Burnt Store Isles Condos
    • Englewood Condos
    • North Port Condos
    • Sarasota Condos
    • Venice Condos
    • Waterfront Condos
      • Sailboat Condos
      • Canal Condos
    • Newly Listed Condos
  • Land for Sale
    • Port Charlotte Lots
    • Punta Gorda Lots
    • Punta Gorda Isles Lots
    • Burnt Store Isles Lots
    • Englewood Lots
    • North Port Lots
    • Venice Lots
    • Waterfront Lots
      • Sailboat Lots
      • Canal Lots
    • Newly Listed Lots
  • Search the MLS
  • Blog
  • Contact Us
You are here: Home / Community Information / The Great Migration of 2020

The Great Migration of 2020

September 30, 2020 by Gary Cardillo

Did you know, roughly 950 people move to Florida every day? We have seen this ‘unprecedented demand’ and the increase in luxury home sales as people in northern states are fleeing the larger cities amid the pandemic.
No longer are people looking just to escape the harsh winter weather in the north, we are seeing people moving south as a quality of life change. Most of the people moving in are from high-taxed areas like New York, Boston, California, and Chicago, according to the New York Times. What makes Florida so appealing is residents pay no state income or estate tax and receive a homestead exemption of up to $50,000 on a primary resident and a 3% annual cap on home assessments.

The sunshine state also grew more appealing with the Tax Cuts and Jobs Act of 2017 which limited the amount of total state and local taxes that can be deducted on a federal income tax return to $10,000. Those living in densely populated areas and commuting via mass transit are now looking to move to areas outside the major metropolitan areas and avoid the close quarters that were inherent with train or bus travel. Families are fleeing cramped apartments and are looking for home offices, home gyms, larger kitchens for increased in-home dining and private pools. What we have noticed, is that people who have seasonal rentals, or who frequent the state, have snapped up permanent residences and turned their short-term stays during the pandemic into a permanent move.

During this time many discovered they could work remotely and with management seeing no drop off in productivity, employees as well as entrepreneurs started to relocate south to areas such as Florida and Texas. New contracts for single-family homes in Charlotte County were up 41% in August compared to this time last year. Single family homes are the “crème de la crème” vs condos and townhomes because most feel it is not only easier to social distance in a house, but weren’t quite ready to give up homeownership and downsize into a condominium.

Also, a booming housing market means more new homeowners – and a higher demand for new appliances such as refrigerators, dishwashers, washers and dryers. With more people staying at home and cooking, appliances are getting much more use requiring replacement, thus adding to manufacturers being backlogged to the end of the year. This pandemic has created a perfect storm for those looking to escape the high cost of urban living and unwittingly finding there are tax advantages and low mortgage rates to be enjoyed in areas with more desirable climates.  According to the latest trends, many of Florida’s gulf coast towns and cities top the list as the choice of many seeking a better quality of life.

One of those being our town of Punta Gorda. Punta Gorda is what so many people are looking for, a laid-back community where residents know one another, engage with one another and enjoy life together in a relaxed, harbor-side destination-the ideal getaway from the hustle and bustle of big city living. As always, we are here to answer any of your real estate questions and if you feel now is your time to make the lifestyle change you’ve been putting off, we’d be happy to show you our piece of paradise.
 -Gary Cardillo

Filed Under: Community Information Tagged With: florida, gary cardillo, real estate, realtor

How Can We Help You?






    Shop for Real Estate

    • Single-Family Homes for Sale
      • Port Charlotte Homes
      • Punta Gorda Homes
      • Punta Gorda Isles Homes
      • Burnt Store Isles Homes
      • Englewood Homes
      • North Port Homes
      • Sarasota Homes
      • Venice Homes
      • Waterfront Homes
        • Sailboat Homes
        • Canal Homes
      • Newly Listed Homes
    • Condos for Sale
      • Port Charlotte Condos
      • Punta Gorda Condos
      • Punta Gorda Isles Condos
      • Englewood Condos
      • Burnt Store Isles Condos
      • North Port Condos
      • Sarasota Condos
      • Venice Condos
      • Waterfront Condos
        • Sailboat Condos
        • Canal Condos
      • Newly Listed Condos
    • Lots & Land for Sale
      • Port Charlotte Lots
      • Punta Gorda Lots
      • Punta Gorda Isles Lots
      • Burnt Store Isles Lots
      • Englewood Lots
      • North Port Lots
      • Venice Lots
      • Waterfront Lots
        • Sailboat Lots
        • Canal Lots
      • Newly Listed Lots
    • RE/MAX Harbor Realty Office Listings

    Search The MLS

    To search for real estate listed for sale in the MLS, please use our MLS Search Form »

    Search By MLS Listing Number

    MLS #:
    For multiple MLS numbers, separate numbers by a comma: e.g., C7005869, C7015140

    Recent Posts

    • Market Update
    • Thanks…..Giving
    • Market Update November 2024
    • Life Lessons from the Storms We Endure
    • Q: How has this new “anti-trust suit” in Missouri impacted the way agents work with buyers and sellers?

    Search The Blog

    Share

    Twitter
    facebook

    Contact The Gary Cardillo Group

    By email: Info@FLwaterfrontliving.com
    Mobile: 941-916-0939
    Address: RE/MAX Harbor Realty
    2815 Tamiami Trail
    Punta Gorda, FL 33950

    About The Gary Cardillo Group

    Gary Cardillo, Realtor While most people would like to talk about themselves, Gary and Gail have always put their clients first, and their diverse backgrounds have provided their clients an unparalleled level of service and knowledge throughout the past years.
      » Read More...

    Explore Real Estate for Sale

    • Search the MLS
    • Condos for Sale
    • Lots & Land for Sale
    • Single-Family Homes for Sale

    Read Our Blog

    • Buying Real Estate
    • Community Information
    • Events & Activities
    • Selling Real Estate
    The Gary Cardillo Group • RE/MAX Harbor Realty
    2815 Tamiami Trail • Punta Gorda, FL 33950
    941-916-0939
    garycardillo@wesellpg.com

    Copyright © 2011-2025 · The Gary Cardillo Group
    Site designed and managed by Tropical Web Works 104.156.48.242

    Back to Top
    Contact Us