Development of homes in golf communities peaked around 1990. Many would even say that there was an over-development of these types of communities, ultimately leading to a glut of homes. After years of sluggish sales and mostly stagnant prices, we could be seeing a comeback in this category of homes.
A socially distant outdoor activity
A big reason for the resurgence in popularity of golf communities would be the increased desire for socially distant outdoor activities. The outdoor sport takes place in wide open spaces, and it can be played while remaining socially distant. In August, Americans played 10 million more rounds of golf in August than they did one year earlier. This equates to a 20.6% increase, according to the Golf Datatech and National Golf Foundation.
Given this increased demand for golf, we are seeing home sales in golf communities on the rise as well. For example, Admiral’s Cove golf community in Jupiter, FL reported 84 home sales from January to late October, up from 57% from a year ago. Interestingly, not all buyers in these communities are necessarily golfers either. Some buyers have expressed that they simply were drawn to the expansive green space and this has become increasingly important to them in their home search.
Summary
Before you start rushing out to look for a new home in a golf community, it is still important to consider various factors. For starters, many of these communities come with hefty association fees or even private equity memberships that can be quite intimidating. Since these added costs are not insignificant, it is strongly recommended that you factor these into your budget. Typically, our buyers that purchase homes in these types of communities are avid golfers. As an added bonus, the social aspect of these communities is also quite appealing.
If you are a golfer, there are not many places better than South Florida. Contact Live South Florida Realty, Inc. to find your golfer’s dream home today!
