Berkshire Hathaway HomeServices, the defining voice in the luxury real estate industry, and The Wall Street Journal’s Mansion Global Custom Studios bring you the 2021 Global Luxury Landscape Report.

The report delves deeply into the inner workings of the world’s interconnected luxury industries, and the impact the pandemic has had on consumer behaviors in popular sectors such as real estate, automotive, yachting, private jet aircraft, and more. It is a must-read for anyone looking to understand the various factors that affect the luxury market as a whole.

South Florida, among other top cities and regions across the globe, was at the center of the conversation. The report highlights how increasing interest in South Florida from buyers across the United States has caused demand to surge far beyond what supply can support. This has led the Median Price of a single-family home in Miami-Dade County, for example, to increase from $378,000 in February, March, and April 2020 by 29.6% to $490,000 in the same period of 2020. The Median Price for the three months of May, June, and July 2021 increased further to $505,000, constituting a 30% year-over-year increase in Median Price.

Not only are single-family homes selling for more, but they are also selling in record time. For the three months ending in July, 2021, the average time on the market for single-family homes across Miami-Dade and Broward Counties was 39 days, compared with 70 days one year prior—a decrease of 44% in days on market.

The majority of newcomers are in their 30s and 40s and are moving with their companies in the technology, financial, healthcare, and other popular industries. But moving as a result of a company-wide relocation is not the only reason many are deciding to make South Florida home. The growing popularity of remote work has allowed many the ability to make the move, purely for personal and tax purposes. If you could work wherever your heart desired, why not South Florida?

Perhaps the most talked-about question among buyers and sellers of South Florida real estate is…will this momentum in the market continue?

I think these trends will continue through the end of the year. I don’t see any financial fallout at all. We’re seeing the highest prices we’ve ever seen, and I think that trend will continue.

Ron Shuffield, President & CEO | Berkshire Hathaway HomeServices EWM Realty

As South Florida sees more increases in the number of new residents, locating good real estate opportunities can become a challenge—but not for those with the right knowledge and experience. Our Associates are among the best in the industry and have helped countless buyers and sellers successfully navigate ultra-competitive markets such as the one we currently find ourselves in. After reading the report, we invite you to connect with one of our elite Associates to have an open and honest discussion about your real estate needs and how we can help.

This is one of the most comprehensive reports for our South Florida markets.  Flip through and enjoy.

The ability to download the report is the icon in the upper righthand corner of the page.

This is the latest report on foreign buyers. Click on the image below and download this extensive report from dropbox.

In July of 1824, the United States Congress contracted Samuel B. Lincoln of Boston to build the lighthouse at the tip of Key Biscayne. With his plans and materials in hand, Lincoln set sail the following month but never arrived. It was assumed his ship sank and left no survivors.

This 65-foot lighthouse, with its wooden staircase, was to guide sailors as well as serve as a lookout to protect the area from pirates, Indians and other invaders.

Noah Humphreys took over the project, and by the end of 1825, the sixty-five-foot brick tower was finally completed.

John Dubose was appointed to serve as the first lightkeeper. He, his wife and five children became the first American family to take up permanent residence on the Key.

Eleven years after opening, while the Dubose family were away, a band of Seminole Indians attacked the tower, burned the wooden structure inside and pillaged the cottage. Several years later, the lighthouse was rebuilt and operating once again.

After Florida seceded from the Union in the 1860s, the lighthouse was again damaged. It went in and out of service several times over the next 100 years for various reasons, including tropical storm damage and lack of funding. The lighthouse was restored and reopened in time for Miami’s Centennial Celebration in 1996.

The Key Biscayne lighthouse now sits on the U.S. National Register of Historic Places and is a prominent icon for our island.

You can learn even more about the history when you visit the lighthouse. Tour the keeper’s cottage which is a replica filled with antiques and artifacts that give you a glimpse of the life of a secluded lightkeeper’s family.

Experience a slice of American history at the very tip of Key Biscayne – during a time of fighting Indians, dangerous pirates and tropical storms.

The historical events of yesterday have led us to the peace, tranquility, and serenity that we enjoy today on our beautiful island paradise known as Key Biscayne.