Miami Dade Real Estate- State of the Market 12/1 thru 12/18/2020
The most recent market stats in Miami-Dade continue to show a desperate lack of available inventory. Builders are combating increased land, lumber and material costs coupled with skilled labor shortages due to COVID-19. Three years of a bustling economy and sustained record-low interest rates had ignited a robust housing sector, and nine months of high state income tax frustration and pandemic-induced shutdowns in Northern states have triggered a record-shattering migration to Florida. Builders are building as fast as their limitations allow but the demand is simply staggering. As a result, home prices are rising dramatically. Moreover, buying patterns have been significantly altered. Today, the most desirable features of a home include additional space to accommodate a home office or gym and even elderly family members, a larger private back yard to give the feeling of open space while preserving a modicum of isolation, and even interior green space to improve ambient air quality. Suburban communities have been the sweet spot of Miami Dade.
Please click below and check out the numbers. If you're even remotely considering the sale of your home, I really can't compare any time in recent history to this. So many factors and forces have converged to create this Seller's market, it's simply the best time ever to sell your home.
If you have any questions or want to discuss your particular situation with me, I'm here to help and you know how to reach me. Happy Holidays and Best Wishes!