Miami is one of the most attractive real estate locations in the country. The variation of properties and listings is almost unmatched and the local economy is continuing to boom. 2021 has seen a huge recovery rate of sales and it shows no signs of stopping. Those who consider buying a property or some form of real estate in Miami should take note that there are specific times to take advantage of depending on what they are looking for and where.

January

Winter is generally one of the best times to rent or buy a property when it comes to pricing. Demand can skyrocket during the summer months as tourists from around the globe pour in to enjoy the heat. If supply isn’t an issue, January is a great time to look for a property as median sale prices for Florida are at their lowest.

June

June is one of the busiest times of year when it comes to real estate. Just this year, June became Miami’s best sales month in its history! June brings about a lot of demand and plenty of supply for properties available for rent and purchase. More options may also be available during the summer as sales are at their strongest.

September

If the high sales months during the summer were missed and if the low costs of January seem too far away, the next best option is September. Prices in Florida start to drop after June and don’t stop until September comes around. This month is a trade off, however, as prices tend to get lower but at the same time, supply tends to go down.

Ugo Columbo is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!

Unless you’re a meteorologist, it’s really hard to predict the future. Still, as real estate investors and prospective homeowners, it’s important to consider the forecast as it relates to the real estate market. Though there are unpredictable variables that can make or break a market, real estate specialists can take certain factors into account when making predictions to guide decision making. Looking at the most important aspects of change in real estate can help guide marketers, investors, and buyers with decision making now and in the future.

Demographics

Real estate heavily depends on the people that buy, invest, and sell properties. Knowing what the general demographics are for those people in a given area such as income, population growth, age, gender, and moving patterns can be invaluable to realtors. It gives an idea of who wants what and what trends are happening on a local and state level.

Economy

The shape of the economy on a local and federal level directly affects the real estate market. Employment, GDP, and prices are only some economic indicators to take into account. If the economy is doing poorly, this can have a butterfly effect on potential buyers. For example, if there is a large unemployment rate, then chances are there are fewer people who want to buy properties and demand will go down.

Policies

Government policies and other legislation can also make or break real estate as a whole. Federally, the government can help with temporary fixes such as tax deductions, subsidies, and credits. Paying attention to not only economic trends, but also to legislation can give an idea of when sales or demand may spike temporarily.

Ugo Columbo is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!