What should we expect for South Florida real estate in 2021? We asked the experts, all members of the Haute Residence network of top real estate professionals, for their thoughts on the different luxury real estate markets they represent and serve.
Photo Credit: Jorge Sosa
"The Brickell market has been transforming itself from an investor's heaven to an actual metropolis with end-users. It has become a vibrant community full of young families and millennials. We are experiencing a huge surge in demand, especially from New York and California buyers. Condo sales have increased YTD 25% compared to the overall volume in the same time period for 2019. We have also seen bidding wars in many recently listed single-family homes." - Sebastian Acosta, Brickell Key, FL.
Photo Credit: ONE Sotheby's International Realty
"For 2021, Fisher Island is going to take a very dynamic upturn in sales and prices. The reason for that is because we've had a huge influx of northeasterners that have descended here, wanting to get out of the cities because of Covid and the winter months. We are seeing much more activity of new renters and new buyers. The excitement lies in these renters that have come to rent here for the high season to experience everything that Fisher Island has to offer, which is an incredible lifestyle, sea breeze, and exclusivity. Those renters are commenting that they will be looking to buy starting in 2021. It's a small enclave that people from all over the world converge in and make friends." - Elena Bluntzer, Fisher Island, FL.
Photo Credit: Michael Jerome
"I expect the demand in the area to continue to be strong in 2021. People will continue to move to this area because it is within walking distance to the beach, Bal Harbour Shops, and a multitude of other shopping and dining options. It is known for the great public schools and quiet, peaceful neighborhoods. There are also plenty of waterfront properties for boaters. This beautiful area offers all of this while still being close to main highways and airports." - Jennifer Brilliant, Bal Harbour/Bay Harbor Islands/Surfside, FL.
Photo Credit: POCKETLISTING
"The luxury market in Aventura will continue an upward swing for 2021. The current high influx, of buyers from all over the country that are relocating to South Florida, is driving prices higher as a result and the inventory of available properties decreasing. This is true not just in Aventura but all over the South Florida market." - Sylvia Fragos, Aventura, FL.
Photo Credit: First Look Virtuals
"Delray's housing market is expected to flourish and be on the move in 2021. It is predetermined by five key housing indicators: mortgage rates, the existing home median sales price appreciation, existing home sales, single-family home housing, and the homeownership rate." - Connie Huergo, Delray Beach, FL.
Photo Credit: Courtesy of Concierge Realty Brokers
"I believe the high-demand for single-family homes is going to continue in 2021. I think that people who are renting homes will turn into home buyers, and new/remodeled homes will be more attractive to buyers and sell faster than homes that need upgrades." - Roberta Ingletto, Pinecrest/South Miami, FL.
Photo Credit: Courtesy of Mary Lee
"2021 will be an extraordinary opportunity to create what I define as a legacy purchase, a home not only for the immediate needs of your family but also for future generations. Ocean Reef, USA’s #2 Private Club, is the ultimate multi-generational community with unparalleled amenities, plus safety and security.” - Mary Lee, Ocean Reef, FL.
Photo Credit: Courtesy of Natiivo Miami
“Everyone calls Edgewater the new Miami and I couldn’t agree more with such a statement. Luxury condos such as Elysee and Missoni Baia will have a tremendous positive impact on the real estate landscape of the area. It’s already got a unique urban vibe. I can’t wait to see its full transformation in the near future.” - Claudia Llanes, Edgewater, FL.
Paola Marulanda hosts a VIP Broker's Open at The Beach House
Photo Credit: World Red Eye
"Demand for single-family homes continues to peak each month as high-tax state residents who have been preparing since 2018 are ready as ever for their dream life in Miami Beach. Now seeking pandemic shelter as well, working from home, managing your business, or enjoying your retirement has no boundaries and there’s not a more desired zip code than 33139 or 33140." - Paola Marulanda, Miami Beach Islands, FL.
Photo Credit: Luxhunters Productions
"Venetian Islands is without doubt one of the most attractive neighborhoods in Miami due to the quality single-family homes and lifestyle it offers. As of today, and despite the year we have been facing, the sales volume for single-family homes in Venetian Islands is surpassing the amount we have seen in previous years mainly due to the large migration of population from the north of the country. This trend is expected to continue in the upcoming year along with new international buyers approaching as borders start opening. The majority of property owners looking to downsize and sell their property at a premium price will continue listing their homes, keeping the market hot while many new buyers build new properties, making out of Venetian Islands a more renovating and premium neighborhood." - Alvaro Nuñez Alfaro, Venetian Islands, FL.
Photo Credit: Courtesy of AKAI Estates
"After an unexpected 2020 that truly transformed the demand dynamics for luxury Real Estate in Southwest Ranches, we could not be more excited for a stellar 2021, as we continue to see an exponential interest for space, privacy and luxurious amenities in the private residential properties. Southwest Ranches and AKAI Estates offer all of that and much more!" - Bento Queiroz, Southwest Ranches, FL.
