Florida’s Record-breaking Luxury Home sales
and Business relocation in 2020
January 18, 2021
For many Years, Florida has remained #1 in the United States for having the highest number of vacation properties sold to International and Domestic Buyers. What are the market trends? During 2020, more Buyers than ever before purchased luxury Homes in South Florida as they relocated from States in the Northeast such as New York, New Jersey, and Connecticut, and also moved from California and other States. Instead of just buying a secondary Residence, many are now relocating to Florida as their primary Residence. The wealthy end of the Market swelled across the major Markets of South Florida, as well as Tampa and St. Petersburg since the start of the Covid-19 Pandemic. Those who predicted that Coronavirus would depress sales of South Florida’s Real Estate and contribute to declining property values were proven to be wrong.
Single Family Homes recorded the highest number of Sales. Continuing into 2021, the Inventory of Single Family Homes is low/insufficient to meet the high level of Buyer demand and limited supply is driving prices up.
In addition to Buyers purchasing luxury Homes, Businesses and their Executives are relocating to Florida as well, including Technology Companies, Financial Firms, Wall Street Executives, Hedge Fund Managers, Bankers, and others.
Florida’s low Taxes, warm weather, Homes located on the Beach and near the Beach, Waterfront properties with Dockage for Yachts and other Vessels, Golf Course Communities, the work-from-home revolution, numerous high quality lifestyle choices, and easy flight access to New York, other States, and International destinations are several of the most compelling reasons that are driving current relocations and purchase activities.
Scroll below to view some of the biggest headlines about South Florida’s record breaking luxury Home sales in Palm Beach, Miami-Dade, and Broward County, Business relocation, and links to their sources:
- Luxury Single Family Home sales jump in South Florida: in Miami, Broward County, and Palm Beach County, Homes are moving much faster than the same time last Year. Read the full Article here.
- 1,000 Americans move to Florida EVERY DAY as families abandon Northern Cities in New York, New Jersey, and Connecticut, with Home sales more than doubling in the Sunshine State. Read the full Article here.
- Palm Beach County luxury Home sales spike 83% during the 3rd Quarter of 2020. Read the full Article here.
- Pandemonium in Palm Beach as ultra wealthy scramble to snap up Mansions. Read the full Article here.
- Miami luxury Home sales spike 55% during the 3rd Quarter of 2020. Read the full Article here.
- South Florida’s hottest and highest priced properties sold in 2020. Read the full Article here.
- Coronavirus is turning Miami into a hot spot Real Estate destination. Read the full Article here.
- Buying a House in Miami is now more expensive than ever and Broward isn’t much cheaper. Read the full Article here.
- U.S. Home prices rise at the fastest pace in more than 6 Years. Read the full article here.
- Pandemic prompts Wall Street to look South for Florida’s life and work benefits. Read the full Article here.
- Goldman Sachs could move Asset Management to Florida. Read the full article here.
- Blackstone is opening a Tech Office in Downtown Miami with jobs that have an average Annual salary of $200,000. Read the full Article here.
- Big Companies moving from New York and California to Texas and Florida. Read the full Article here.
- The Money never stops coming: Miami’s Office market is hot, despite Pandemic. Read the full Article here.
- Florida is fast becoming the second Home for Wall Street. Read the full Article here.
- Florida continues to lure movers amid the Pandemic, boosting the State’s economy. Read the full Article here.
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