COCOA BEACH, Fla.—Oceanfront views? Check. Small-town atmosphere? Check. Rocket ships to outer space? You better believe it.
There are lots of views in Cocoa Beach, Fla., from the Atlantic Ocean out the front window to space shuttle launches from Cape Canaveral up north and the canals that wend their way through the barrier islands out back—and these, along with the small-town feel, says Lisa Moore of Coldwell Banker Cocoa Beach Realty, are undoubtedly the reasons Cocoa Beach is a thriving, growing luxury market.
"We have very few first-time buyers," Moore says. "And the buyers are not local residents." Who the buyers are, she says, are people moving out of the Keys or up from Miami, Northeasterners looking for warmer climates and Europeans looking for luxury condos that aren't quite so pricey as those in southern Florida.
"True luxury here ranges from about $750,000 to about $2.5 million," Moore says.
"Some are up to $4 million, but those are few and far between."
The luxury market, which is predominantly condos, she says, is incredibly strong, with appreciation rates of 100 percent. And the future could be getting brighter. In five years, the cruise ship industry is expected to complete a mega-yacht marina; and around Cocoa Beach, land is fast turning from vacant space to...well, everything.
"It's amazing," she says. "We're seeing every little bit of land transformed into something here."
This article provided courtesy of Unique Homes Magazine and does not express the views of Coldwell Banker Real Estate Corporation.
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