Miami Report Q3 Update - 2022

Page 1

UPDATE

2022 Q3

SOUTH FLORIDA'S 4 FEEDER MARKETS

#1 CLIMATE (SECOND HOME / PERMANENT RESIDENCES)

#2 LATIN AMERICA

Latin America

ANDRÉS LÓPEZ OBRADOR

President of Mexico

NICOLÁS MADURO

President of Venezuela

GUSTAVO PETRO

President of Colombia

GUILLERMO LASSO

President of Ecuador

DINA BOLUARTE

President of Peru

LUIS ARCE

President of Bolivia

LUIZ INACIO LULA DA SILVA

President of Brazil

ALBERTO FERNÁNDEZ

President of Argentina

GABRIEL BORIC

President of Chile

#3 2017 TAX REFORM RELOCATION

STATES THAT BENEFITED THE MOST

FLORIDA

TEXAS

CALIFORNIA STATES THAT BENEFITED THE LEAST

NEW YORK

FLORIDA IS
DESTINATION FOR HIGH NET WORTH INDIVIDUALS FLORIDA 20,263 5,356 5,268 2,624 4,713 2,331 3,967 2,055 2,743 1,503 TEXAS IN THE U.S. MAKING OVER $200,000 ANNUALLY
REPORT BY SMARTASSET & IRS DATA ARIZONA NORTH CAROLINA SOUTH CAROLINA TENNESSEE COLORADO NEVADA IDAHO UTAH 2022 NET MIGRATION HOUSEHOLDS
#1
SOURCE:

#4 SOUTH FLORIDA'S CORPORATE RELOCATIONS

May 2022

"In the past 19 months, 122 companies have either expanded or opened main or regional headquarters within city limits, according to figures released by Venture Miami, an economic initiative affiliated with the office of Mayor Francis Suarez."

IN THE NEWS

122 CORPORATE RELOCATIONS HEADQUARTER RELOCATIONS REGIONAL RELOCATIONS 27 95

MIAMI MAYOR FRANCIS SUAREZ

AVG DAYS ON THE MARKET FOR SINGLE FAMILY HOMES AND CONDOS IN MIAMI-DADE, BROWARD AND PALM BEACH COUNTIES

2018 99 2019 104 2020 105 2021 86 2022 SOURCE:
53
MLS

Total Active Listings for Single Family Homes and Condos in Miami-Dade, Broward and Palm Beach Counties

32,811 Q3-2020 Q3-2021 Q3-2022 18,686 19,946
SOURCE: MLS
32 CONDOS TOTALING 5,408 RESIDENCES FORT LAUDERDALE SUNNY ISLES BEACH NORTH BAY VILLAGE BAY HARBOR ISLANDS MIAMI BEACH / SOUTH BEACH COCONUT GROVE BRICKELL DOWNTOWN MIAMI BISCAYNE CORRIDOR DESIGN DISTRICT MIDTOWN WYNWOOD 6 2 1 5 5 2 4 3 4 Traditional Condos (NO DAILY RENTALS)

20 YEAR CONDO

DELIVERY ANALYSIS FOR TRADITIONAL CONDOS

2001 - 2010 275 # OF BUILDINGS PREVIOUS CYCLE LAST CYCLE CURRENT CYCLE 2012 - 2020 123 58,953 19,465 2021+ 32 5,408
IN THE NEWS October 2017 Aston Martin Residences Break Ground In Miami 391 Residences | 66 Stories

TAKEAWAYS

1.

CONTINUED POPULATION GROWTH

2.

3.

SUPPLY SHOCK REMAINS 122 U.S. COMPANIES COMING TO MIAMI

2022 Q3
UPDATE
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