Opalocka, Florida Real Estate Market

There are many reasons to consider Opa-Locka, Florida as a relocation destination or a fun and exciting place to enjoy an active retirement.  The real estate market continues to be on the rise, with many options for buyers of all budgets.  A few attractive items are no state income taxes, no inheritance tax, and warm weather most of the year.  Opa-Locka has wide paths for relaxing afternoon strolls through its historic downtown area, as well as bike lanes and shopping at quaint boutiques.  The Atlantic Ocean’s beautiful views are a short distance away to make Opa-Locka a fantastic place to invest in real estate.

Not far away from Opa-Locka are exciting cities in Florida, such as Fort Lauderdale, Davie, Cooper City, Hallandale, Plantation, Pembroke Pines & Dania Beach.  These cities and the surrounding areas are excellent places, whether you’re looking to visit or a place to call home.  Opa-Locka is within close proximity to culture and nightlife options whether you seek a relaxing tree line sidewalk cafes, a late night jazz clubs or exclusive boutique stores.  Opa-Locka is located south of Fort Lauderdale and Dania Beach, east of Davie & Pembroke Pines north of Hallandale.  The city is close to great and scenic stretch of the Atlantic Ocean meeting its shores.

Opa-Locka was settled, as much of the area, around the 1920's.  This gives the town some old world charm, but still features contemporary attitudes and a small town feel.  Luxury high rise buildings tower east of Opa-Locka along the beach, and upscale homes have been developed along the Intracoastal Waterway.  A re-vamped downtown offers live jazz, sushi bars and art galleries.  At the same time, there are plenty of sports bars and casual spots amenities as well.

According to recent reports, 569 condominium or town home units in the Opa-Locka area.  Because 24 are bank owned, there are many affordable options for first time homeowners or those snowbirds looking for retirement options.  Other figures include the 69 condos that are under short sale arrangements, and 476 are from regular equity sellers.  The same area within Opa-Locka also  has 205 sold condos in recent, and out of those, 57 were bank owned, 27 were short sales and 121 regular sales.

Short sales are interesting number's game, to some a gamble.  Regular sales typically surpass bank owned sales by a slide.  There is an abundance of housing inventory options available, however.  There are a few reasons that regular sellers compete with bank owned properties and going head to head with current market values to take advantage of the lower prices.  But the arrangement is still a gamble.