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2021 Miami Real Estate Forecast


May 19, 2021

Miami has been a hot topic for real estate news in 2020/2021 as its market has experienced record growth, but Miami has been on a steady incline for population growth and investments for the last few decades. Miami has over 2.8 million residents and is home to the highest number of foreign-born residents in the United States. It offers various activities, real estate, modes of transportation, and easy access to tourism and travel.

Excess supply could potentially cause real estate prices to decrease, while the rest of the country is experiencing a record high demand for housing amid a housing shortage. Ultimately, housing prices have increased tenfold and allowed homeowners to get a higher value for their property – but Miami has an abundance of housing inventory, making for a balanced market.

Single-family home values are anticipated to increase long-term. Miami’s home price has risen by 20% year over year. While there has been a dip in home values now, the general trend for the real estate market is moving upward. Luxury home sales are up 225% year over year, and condos have increased at the lowest rate of all types of real estate.

Foreign buyers are a significant portion of homebuyers in the greater Miami area and across South Florida. If a foreign economy is doing well, then investments come quickly to Miami, especially in luxury markets.

With a booming economy and real estate market, the time has never been better to invest in a new home with Continuum South Beach. Our condos are resort-style and oceanfront, located on the southernmost tip of beautiful Miami Beach. With our twelve sprawling acres of manicured grass, three clay tennis courts, two magnificent pools, an outdoor restaurant, a spectacular gym, spa, concierge, 24-hour security, and other amenities, Continuum condos for sale are an excellent spot for you to call home here in Miami.