Cape Coral Tops the List of U.S. Metros Attracting the Most Out-of-Town Home Shoppers

Homebuyers dreaming of better weather, lower costs, or a fresh start are increasingly looking far beyond their own backyards. And, some metros are becoming true magnets for out-of-town shoppers, according to a new Realtor.com® analysis.

To pinpoint where potential homebuyers are most interested in moving, Realtor.com economists analyzed how many users were viewing listings outside their current metro areas.

The Cape Coral-Fort Myers, FL, metro received the highest share of nonlocal interest, with 82.1% of viewers coming from outside the area.

"We get a lot of out-of-towners moving to this area," Katrina Allison, real estate broker and owner of Absolute Equity Realty Group in Fort Myers, tells Realtor.com. "They are mainly retirees who are relocating here due to the lack of state taxes and the warmer climate."

Allison says a new large VA hospital was recently built in Cape Coral, so that has been attracting a lot of VA buyers and retirees, as well.

"We are a nice middle location to big cities like Tampa and Miami, so we have everything you need without all the Miami highways and traffic," says Allison.

The Florida effect

Four of the top 10 metros that attracted the largest proportions of nonlocal inbound searches were in Florida.

"Cape Coral and the other coastal Florida markets on the list benefit from buyer demand coming from outside of the area, though these markets have cooled recently," says Hannah Jones, senior economic research analyst at Realtor.com. "Elevated home prices and climbing insurance and HOA fees have cooled off the Florida market, taking pressure off of home prices and pushing inventory levels higher."

A recent report from real estate analytics firm Cotality revealed that of the 10 coolest markets in the U.S. among the 100 largest metros, seven were in Florida—with Cape Coral topping the list. 

"Out-of-market shoppers may be on the lookout for deals as the Florida market adjusts," adds Jones.

1. Cape Coral-Fort Myers, FL

Median list price: $399,900

Percentage of inbound views from other metros: 82.1%

"I have seen an uptick in buyers from the Northeast for the past several years," says Brittany Skotak, a Cape Coral real estate agent with Douglas Elliman. "The beaches, golf courses, and affordable real estate, compared to other larger Florida cities, tend to be a magnet for many."

After Hurricane Ian, the ongoing rebuilding efforts present further opportunities for buyers looking to invest in a recovering market, according to Skotak.

2. Lakeland-Winter Haven, FL

Median list price: $339,900

Percentage of inbound views from other metros: 79.6%

Sain Rhodes, a real estate specialist at Clever Offers, notes that buyers get much more for their money in Florida than in places like New York. She adds that about 40% of her relocating clients work fully remote, giving them the freedom to move wherever they want in the U.S.

"The Lakeland/Winter Haven area, in particular, would have never known the likes of such clientele a decade ago," she adds.

3. Durham-Chapel Hill, NC

Median list price: $470,000

Percentage of inbound views from other metros: 77.8%

"What draws people here is the same thing that drew me here: exceptional schools, a small-town feel, and the incredible energy that comes from having a world-class university at the heart of the community," says Brooke Gelhaus, primary broker of North Carolina Collective at Compass.

"Compared to many major metro areas, Chapel Hill offers a high standard of living, more space, and strong amenities at a more approachable price point."

4. Deltona-Daytona Beach-Ormond Beach, FL

Median list price: $384,000

Percentage of inbound views from other metros: 77.4%

Daytona Beach is one of the few beach towns where real estate still feels within reach for many homebuyers due to its affordability.

"Florida markets tend to be popular with out-of-town home shoppers as snowbirds and retirees set their sights on the sunny state," says Jones.

5. Kiryas Joel-Poughkeepsie-Newburgh, NY

Median list price: $550,000

Percentage of inbound views from other metros: 76.3%

Hudson Valley used to be a weekend getaway for New Yorkers, but more people are living there full time thanks to remote work options. Kiryas Joel, Poughkeepsie, and Newburgh all offer residents ample room, green spaces, and a strong sense of community.

6. North Port-Bradenton-Sarasota, FL

Median list price: $478,800

Percentage of inbound views from other metros: 75.9%

"A significant portion of my inquiries over the past year have come from buyers relocating from the Northeast, Midwest, and West Coast," says Sarasota real estate agent Donna Soda, of Douglas Elliman. "Buyers are drawn to the quality of life here. Our communities are beautifully planned, the amenities are exceptional, and the lifestyle feels effortless."

7. Charleston-North Charleston, SC

Median list price: $494.000

Percentage of inbound views from other metros: 75.8%

"We are absolutely seeing more inquiries from homebuyers relocating here from out of state, especially in the colder months," Charleston real estate agent Kelly Dellinger of Akers Ellis Real Estate tells Realtor.com. "It has an international airport, access to a ton of beaches, a stunning historic district, and a milder year-round climate that appeals to people experiencing harsh winters."

8. Augusta-Richmond County, GA

Median list price: $324,900

Percentage of inbound views from other metros: 75.4%

Augusta, steeped in quaint Southern charm, is home of the fabled PGA Masters Tournament.

"Augusta is relatively small, but quite popular, which can draw in demand from nearby bigger cities," says Jones.

9. Allentown-Bethlehem-Easton, PA

Median list price: $394,450

Percentage of inbound views from other metros: 74.9%

"Many of the Northeast markets on the list are popular with home shoppers from nearby pricey metros, such as New York and Boston," says Jones. "These metros offer affordable, idyllic alternatives to city life and therefore see significant demand from dense, high-priced locales."

10. Portland-South Portland, ME

Median list price: $599,900

Percentage of inbound views from other metros: 74.6%

Out-of-towners are attracted to Portland’s blend of small-town charm and big-city conveniences, along with its effortless access to beaches, islands, and iconic lighthouses. It's also about two hours from Boston, making travel and business convenient.