"Even though the summer months are typically slower in Miami because the weather gets warmer, the last three months have been very strong, with a lot of momentum, for the luxury market," said team cofounder Jill Hertzberg.
"Many of the buyers who are already in Miami are proceeding with their home-buying plans, and deals are moving forward. Others are in the process of narrowing their purchase options and might make their decisions soon." The reality is that COVID-19 has expedited the purchase decision process for many buyers, she said, "particularly the tax-driven ones."
It also offers, of course, the particularly attractive features of no state income tax and positive homestead laws. As for where the demand is coming from, cofounder Jill Eber said existing Florida residents and out-of-towners are buying first and second homes. She said she was surprised by the "major sales that occurred, as well as the variety of buyers that continue to focus on South Florida for their primary and secondary/tertiary homes.
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