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Boom times continue in Miami

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With low taxes, baby boomers, low-interest rates and the influx of new first- and second-homebuyers, Miami-Dade County Real Estate continues to hit record-breaking numbers. In Q2 2021, Miami-Dade County’s total home sales ↑ 142.4% YoY from 4,766 to 11,553. In the > $1M luxury market, single-family home sales ↑ > 4x to 942, and luxury condo sales ↑ >7x to 917 in Q2. The luxury market in Miami has just been on fire, but not a lot of finished products and move-in ready; it’s a great market for sellers. Covid made people more willing toward buildings with larger and fewer units and higher bedroom count, or single-family homes offering more privacy. Miami is booming; the city is getting very strong demand right now, and people are buying to live here, not as an investment.

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