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Real Estate in Miami post Covid19
Dated: July 16 2020
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Will the coronavirus drive down housing prices?
The Real Estate market in Miami is strong, on fire!
Plus, we are at historically lower interest rates, stronger incomes, and sound credit.
As of May, home prices in Miami had appreciated for 102 consecutive months, according to the Miami Association of Realtors. The median price of a single-family home in Miami-Dade County was up 4.4 percent year over year, and up 0.7 percent in Broward County.
Miami real estate experts say that the market there has been boosted by wealthy people fleeing states with high taxes. And despite the coronavirus pandemic the market has continued upward.
Consumers should be cautious since the COVID-19 health crisis can introduce uncertainty, which can be bad for prices in the long run. So far, the market is holding up.
As the world has adapted to the covid-19, the real estate market in Miami had to adapt.
Property prices in Miami have not dropped significantly in a way some may have expected.
Buyers are still looking at property listing, their photos and taking virtual tours of properties on the Global Luxury Realty wesbite. The traffic visits have not stopped.
Some buyers are looking downsize, others are upgrading to larger homes or condos.
The coronavirus pandemic has made our brokerage to reinvent itself at the forefront of a changing market.
We act as a property selling and rental brokerage,
Since the begining we have been a 100 percent virtual company, so working through Covid-19 has been easy breazy. Being a virtual company allows us to be on job 24/7. Everything we do as a company, we are doing it virtually, so adapting to the health conditions have not been an issue for us.
At Global Luxury Realty we strive to provide outstanding customer service to our buyers and sellers, one of the main reasons we remain in business.
Inventory seems constrained so this is unique and viable time for sellers to list their property.
Now is the time to speak to Real Estate experts.
We at Global Luxury Realty are here to help you achieve your financial goals.
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