Miami Real Estate Market Analysis

Q3 2024 has just closed out! The data continues to trickle in. I will have my full Q3 report ready for you next week. Today I would like to share a preview of some of the initial findings.

Spoiler alert: the #LongMiami and South Florida thesis keeps playing out.

Segments successfully catering to the wealth & talent migration:
-> New product in prime location.
-> Throw in in inherent scarcity, and you get the phenomenon that is our high-end SFH market.

Show Me The Money: A cash market is very unlikely to exhibit bubble-like behavior and it has a solid floor. The South Florida market is very heavy on cash. As data keeps coming in corroborating the South Florida & Miami story, various news outlets continue to publish unsubstantiated clickbait to the contrary. I have been seeing stories lately about “bubbles” and “froth”. The question bears asking: what is a bubble and how / why do they pop? Asset bubbles are almost always the result of irresponsible usage of easy debt. When the underlying assets can no longer support the debt, prices quickly collapse. And in retrospect, we define said phenomenon as a bubble bursting.

Florida #1 for gaining high earning millennials & Miami cited by Knight Frank as the most transformative luxury real estate market, alongside Dubai & Palm Beach.