Miami's real estate market is experiencing a significant shift, with a growing demand for suburban and rural properties in the wake of the COVID-19 pandemic.
As people look for more space and privacy, they are increasingly turning to properties outside of the city.
According to local real estate agents, the demand for suburban and rural properties has been driven by several factors,
including the desire for more space, a greater emphasis on outdoor living, and the ability to work remotely.
Additionally, many families are seeking out areas with better schools and more affordable housing options.
As a result, the market for suburban and rural properties has become extremely competitive, with bidding wars becoming increasingly common.
Real estate agents are advising buyers to act quickly and be prepared to make strong offers if they want to secure their desired property.
Despite the growing demand for suburban and rural properties, the Miami real estate market as a whole remains strong.
Sales of existing homes have increased by 25% compared to the same period last year, and the median price of homes sold in the area has risen by 14.6%.
While the pandemic has certainly had an impact on the real estate market, experts predict that the demand for suburban and rural properties is likely to continue even after the pandemic subsides.
As remote work becomes more common and people prioritize their living arrangements, many may choose to leave the city behind for a more peaceful and spacious lifestyle.