Miami Real Estate Market Analysis

Just released!
My 2024 annual Miami Dade real estate report is now live!
Uncover Miami’s hottest real estate trends & opportunities.

Highlights:

–> New product at prime locations continues to shine: we actually don’t have enough.
Both condo and SFH transaction volume was up YOY past $1K / sq ft.
SFH past $1K /sq ft hit an all time high and is up a remarkable 631% vs. 2019 (pre Covid)

–> Despite fake, alarmist press headlines: Miami Dade overall inventory levels remain below 2019 (pre Covid) levels

–> Speaking of inventory levels, this is truly shocking: Miami Dade SFH active listings below $500K are down 800% vs. 2019 pre covid.

There are now only about 600 active SFH listings sub $500K in all of Miami Dade County.

Pre Covid in 2019, there were over 3,500.

I think the implications of this are obvious. And far reaching.

Hot off the presses!
Miami Dade SFH 2024 report preview. Full 2024 year end report and 2025 forecast coming next week.
Median price at all time highs, inventory 36% below pre covid (2019).

This should provide plenty of ammo to retort the negative, click bait generated by legacy media.

Annual data is simple to understand and the truth is clear.

I made the table after downloading and processing newly released 2023 interstate census data.
Source: https://www.census.gov/newsroom/press-releases/2024/state-to-state-migration-flows.html

The pattern is very clear.
High tax, blue states are losing population due to interstate migration.

And as I keep saying, I do not see this reversing.
I do not see a sudden net flow into high tax states.

The political leanings of the state seem to be correlated to the tax levels.

My study was picked up twice by the Daily Mail.

https://www.dailymail.co.uk/news/article-14055047/US-map-fastest-growing-states-census-population.html

https://www.dailymail.co.uk/yourmoney/article-14198061/florida-arizona-cities-baby-boomers-travel-packs.html

The pattern is very clear.
As the country reshapes around 21st century realities and shift in economic focus continues, high tax states are clearly losing population.