Miami Newsletter - February 2021
Hello & Happy February!
Welcome to all the new members of our Miami family!
To date, the first month of 2021 has shown that the influx of people looking to move to Miami has not slowed since last year. The real estate market is HOT! The only thing better than the market right now is the weather. Winter really does bring out the best of Miami. People are out enjoying the beauty of this wonderful city while adhering to CDC guidelines, of course. There is no better place to work from home.
Miami has seen a spike in sales and rentals, unlike anything we have seen in the past. Every corner of the city is booming with business as companies from all over the country are announcing moving their offices down to the sunshine state.
Inventory levels have dropped significantly in both the homes and condo sectors in Miami Dade since May 2020. In the $1M and above price range, months of inventory based on closed sales dropped from 28 months to 6.7 months for homes and from 95.9 to 25.7 months for condos. Please see the graphs below for more details.
Dozens of big names have arrived. There was a tech contingent: Keith Rabois, a PayPal co-founder and investor, and his husband. Then their friend Peter Thiel, the tech investor and prominent conservative. Jon Oringer, founder of the stock-photography provider Shutterstock, and the media mogul Bryan Goldberg. Steven Galanis, the head of the celebrity-video product Cameo, is here. Elon Musk is talking about building car tunnels under Miami. Blackstone Group & Elliott Management are just a couple of the many companies moving their offices to Miami.
Make sure to read the New York Times & Forbes articles below for more details.
If you are thinking of moving to Miami, or of purchasing a vacation property, let my team help you find your next home.
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Properties for Sale & Rent
Market Stats - Months of Inventory
HOMES $1M+ | OCT 2019 - DEC 2020
CONDOS $1M+ | OCT 2019 - DEC 2020
In the News