Thank you Peter Santanello for shooting an episode with me:Inside Wealthy Miami – Why Are So Many Americans Moving Here? Thank you Wall Street Journal for using my data and quoting me in this excellent article: Million-Dollar Homes Skyrocket in Miami, as Starter Properties Go Extinct.
Q3 2024 Miami Dade Real Estate Report: Official Release
My Q3 2024 Miami Dade report is now live!
I am sending you some reading, right in time for the long weekend here in the US.
Segments catering to the wealth and talent migration continue to outperform pre Covid realities by a wide margin, with some segments at all time highs. Ex: SFH past $1K /sq ft transacted at record levels Q1-Q3 of 2024. And most market segments above $500K saw YOY sales volume growth (all SFH segments and some condo).
Actionable value is found when drilling down, but the macro drives the micro. We need to understand the basis of the market and the fundamental trends driving what we see in the numbers. Starting there, we can then drill down further in order to make predictions on specific sectors.
My forecast and thoughts heading into an election season: I believe that the country will continue to polarize, regardless of election outcomes. Internal tensions will continue to build and entrepreurship will continue to flow towards the paths of least resistance. South Florida will continue to ascend and I believe that many of our feeder jurisdictions will continue to increase their hostilities towards capital. This is still early days.
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Two weeks ago I published a detailed analysis & charts of all-cash buyer percentages throughout South Florida.
You can read that post here >
By popular demand, this week, I expanded upon this topic with a discussion of how one defines an asset bubble.
Download my full Q3 2024 Miami Real Estate Report
Some report highlights are below
SFH transaction volume past $1K and $2K / square foot, and all cash percentages for both.
Condo transaction volume past $1K and $2K / square foot, and all cash percentages for both.
Active listings (inventory) levels:
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