South Florida is Dubbed NYC’s “6th Borough” After COVID-19 Exodus

June 14, 2021 by Michael Light

类别: 豪华的公寓, 豪华住宅, 市场趋势, South Florida Real Estate

Downtown Miami Skyline

 
Florida’s Department of Highway Safety 和 Motor Vehicles has proven what everyone in real estate has been talking about over the past year…New Yorkers have fled to South Florida in droves during the COVID-19 p和emic. 至少 33,565 people exchanged their New York driver’s licenses for Florida driver’s licenses between September 2020 和 March 2021. This is an increase of 32% from the prior-year same time period.

Of the 33,565 people who moved to South Florida, 14,045 moved to the Palm Beach area,而 8,422 moved to Broward8,033 to Miami-Dade County. Although Miami only accounts for about 24% of those New Yorkers, it has still majorly impacted our market here in Miami, especially when you combine them with the thous和s flocking from Chicago, Los Angeles 和 Connecticut.

According to the NY Post, Florida officials claim a major reason people have ditched NYC 和 headed to the Sunshine State is because they wanted their kids to go back to full-time, in-person schooling (New York schools in-person learning has been closed until recently). 但, I think a lot of people had been on the verge of moving down here for tax reasons 和 COVID closures & lockdowns in their city just pushed them over the edge to make a decision. Whatever the reason…everyone is moving to South Florida!

如果你 are considering making the move, inventory is at an all-time low! In the beginning of this surge, we were seeing massive dem和 for single-family homes while the condo market slowed. As most of the single-family home inventory was absorbed, buyers had no choice but to turn back to condos causing that inventory to also shrink to historic lows leading to multiple offer/over asking price scenarios throughout the city.

如果你, or someone you know, are looking to buy or sell in Miami or Miami Beach, please contact Michael Light, Broker at Douglas Elliman Real Estate, to discuss more about the current state of our market. It is important to speak to a real estate expert who is truly knowledgeable about the local markets. You may reach Michael directly at or via email at michael@maimiluxuryhomes.com.


 


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