Miami Beach Luxury Homes; The Big Boys Are Back In Town. Wealthy CEOs and hedge-fund managers are flocking to Miami for the tax breaks, and it’s creating massive waiting lists at the area’s elite private schools. And while the big boys are back in town, the question arises, what will happen to single-family home values in the year ahead?
Miami Beach Luxury Homes
The Miami Beach residential home market now borders in favor of sellers with around an 8-month supply of homes. Here are the graphs for Miami Beach homes priced above $1M, showing us a trend analysis over this last year. From the June 2020 escalation trend, we may assume Covid-19 lockdowns, global closures, and the “new norm” have many seeking an ideal environment and location to thrive with what we believe has South Florida in the forefront and so many eyes now on Miami. Currently and primarily a domestic buyer pool, once travel restriction eases, the International draw could place residential real estate values into overdrive, and yet, as they say… time will tell.
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