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The Miami real estate market is hot. In fact, there was another record set during August. The market posted its best August sales month in history. The total homes ales in the county surged by 30.6% YoY, going from 2,527 sales to 3,299. There are many reasons why the Miami real estate market has continued to be so hot throughout the pandemic.
Miami has become a very popular place to move. People from the US have opted to make South Florida their primary home, which has caused even more people to contribute to the local economy year-round. Furthermore, many foreign buyers continue to buy investment properties in the area.
Miami is currently on its way to have its best year ever for sales in both the condo and single-family homes markets. In the first eight months of this year, Miami has already recorded more sales than it did in all 2020. Since March, every month has posted record sales. In fact, out of the top 10 best home sales months in the history of Miami, seven have happened since December 2020.
Right now, there is very high demand for all types of properties in Miami. Although demand for single-family homes has been steady since the pandemic started, right now demand for Miami condos is also surging. In fact, condo sales jumped by 70% YoY in August 2021.
With so many individuals and companies moving to Miami, it is no surprise that the real estate market is on fire. Because there is more inventory for condos right now, many people relocating are taking advantage of all the options available. Although prices are increasing, Miami still has incredible opportunities.
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Interested about learning more about Miami real estate?
AMG International Realty is a global real estate firm specializing in Florida. So, if you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!
Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).
