If you are going to be moving to Miami-Dade, or if you already are in the area and are considering just where you want to live in and around the city, you have a lot of quality choices. Recently, the 2019 Miami Herald Real Residential Real Estate Survey aimed to get a better understanding of what was happening in the market through interviews with brokers, agents, and other experts in the field to learn more about what was happening in the area.
A Buyer’s Market and a Seller’s Market
The experts agree that there are essentially two different markets in the area right now. Those who are looking for luxury properties will find that it is a buyer’s market. There are many quality properties being sold currently that are more than half a million dollars. Because it’s a buyer’s market, though, it means that those who are looking at luxury units can find some excellent deals.
There is also the market that falls into the range of properties that are between $350,000 and $400,000. These fall into the seller’s market. This means that the inventory has not seen as much growth as we’ve seen in the luxury market. There are fewer homes that are up for sale, and the sellers have more of an advantage here.
Most Popular Neighborhoods in Miami-Dade
Brickell has once again been shown to be the most popular area in the Miami-Dade region for renters. The downtown area of Miami took second place, while Edgewater and Miami Beach tied for third place. Brickell and the downtown area tend to be quite busy and can be a good option for those who are looking for a fast-paced lifestyle. Brickell and the downtown area are both very popular with renters, but there is a fair share of buyers in those locations, as well.
However, Kendall has become one of the hottest areas for those who are looking for buying. Only Miami Beach was more popular. North Miami is considered the fastest growing city in the area, but it was also voted as the most undervalued neighborhood. This could be a good option for those looking to buy, as well as those who are looking for investment options.
Miami-Dade is a large area
There are options for just about everyone. Whether you want to buy or rent, whether you want a quiet lifestyle or you want to be in the heart of the action, there are options for you.