Florida has always been a popular destination for Northern folk looking to escape the freezing temps and snowy days of winter. Some people spend so much time down there it makes sense to buy property instead of staying at hotels. Want to see what the Miami metropolitan housing market has to offer second home buyers and relocaters? Read on…
The vacation home market in South Florida has always been big. Chicago residents are among the thousands who move southwards for several weeks or months of the year in search of warmer weather and sunny skies. Places like Miami are extremely popular and attract buyers from all over the world. The city is packed with luxury beachside condos, golf course residences, single-family developments and other great real estate options.
Right now, the Miami real estate market has a high inventory of homes for sale, many available at much lower prices than a year ago. However, just as in any real estate market, it is important to research individual areas for what’s happening locally – depreciation/appreciation values can vary greatly from one neighborhood to the next.
Miami is known for its luxury listings. The rich and famous have always been drawn to the tropical setting and relaxing atmosphere, resulting in a significant number of posh residential buildings and upscale high-rises. Buyers looking for something a bit more low-key won’t be disappointed though. There’s also a wonderful stock of lower price points with just as much appeal – and that same marvelous Florida sunshine!