Miami’s Incredible Land Grab 2021

The incredible land grab has begun here in 2020 as wealth flocks in droves to South Florida. From the relocation of huge financial firms coming out of New York, along with San Francisco tech companies to celebrities and athletes alike, the Miami land grab is here to stay as we will continue to see record numbers and sales in 2021.

Residential single-family homes along the coastal communities of Miami-Dade have luxury home inventory on a steady decline. What’s been touted as ‘the exodus‘ from other major metro areas, has since escalated from ‘the new norm‘ and now in hindsight ending the year, these factors have proven to be a blessing for South Florida real estate.

What began this year as an escape from high tax states to then a desire for a new lifestyle in pandemic-era times, 2021 will prove to be an amazing escape for many who see Florida as a safe-haven on every level for the world’s elite. From substantial tax savings when relocating to what is also a pro-police environment for security and peace of mind, residents get almost perfect weather while living in a fantastic environment filled with endless fun and enjoyment whether culturally or environmentally. From the cleanest air over the beaches and bay to an emphasis on health, prosperity, and an awesome living environment, come and experience this new life here in South Florida that’s quite simply second to none. Make a move today while there’s still time to cherry-pick from the best Miami has to offer.

Miami Dade Coastal Home Trends >$5M

The housing market shift has escalated as we see in these graphs below – the savvy buyer is stepping into the market with aggressive behavior.

Months of Inventory based on Closed Sales in November 2020: 8.4
• Down 28.8% compared to last month
• Down 88% compared to last year
Average Sold Price per Square Footage in November 2020: $1,931
• Up 34.1% compared to last month
• Down 16.5% compared to last year
Home For Sale in November 2020: 151 units.
• Down 8.5% compared to last month
• Down 28.4% compared to last year

Home Closed in November 2020: 18 units.
• Up 28.6% compared to last month
• Up 500% compared to last year

Home Placed under Contract in November 2020: 16 units.
• Down 27.3% compared to last month
• Up 166.7% compared to last year
November 2020 Median Sold Price is Neutral*

Average Median Sold Price in November 2020: $8683
• Down 5.1% compared to last month
• Down 44.2% compared to last year

November 2020 Average For Sale Price is Appreciating*

Average For Sale Price (in thousand) in November 2020: $12480
• Up 2.9% compared to last month
• Up 8.4% compared to last year

November 2020 Average Sold Price is Depreciating*

Average Sold Price (in thousand) in November 2020: $9776
• Down 4% compared to last month
• Down 28.9% compared to last year
Average Days on Market in November 2020: 255
• Down 21.8% compared to last month
• Up 22.6% compared to last year

November 2020 Sold/List Price Ratio is Rising*

Sold/List Price % in November 2020: 91%
• Up 1.1% compared to last month
• Up 2.2% compared to last year

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