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Happy 2020! Here are my luxury real estate market predictions.

2020

We are officially in a new year, a new decade, and I am very excited to share my predictions for the luxury real estate market in 2020. A lot of factors will color the trajectory of my industry in the upcoming year but maybe none more than the fact that we're in an election year. Analysts traditionally associate these years with slower than normal buying behaviors but there's no way to predict outcomes in our current political climate. I'm watching this very closely to be able to guide clients.

In my professional opinion from experiences on the ground level, I'm seeing many more active buyers than normal. These populations are largely North Easterners, many in the financial services including hedge funds, who are buying here to take advantage of the advantageous tax policies coupled with low interest rates. My team and I have been watching this trend closely, read more about our newest luxury players and the reason behind their mass migration on my Fall State of the Market Blog. In 2020, we will also see a rise in Latin American buyers as their region continues to be very unstable, they will aim to invest in our real estate to protect wealth while their currencies recover.

As far as preferred buyer categories, the latest data shows growth in single family homes and luxury condo sales. I expect this trajectory to continue into 2020. And I believe that with low interest rates and low inventory, prices will continue to rise. Many of the buyers I work with are increasingly interested in walkability and community, with proximity to a central districts and the waterfront being a priority. This makes areas like Coconut Grove, Coral Gables, and Brickell in particular very hot in the year ahead. This is especially true in the Grove which has seen a massive resurgence and has become a culinary hub offering designer architect towers overlooking the water.

As for me, I'm starting the New Year with an especially rosy outlook. My award winning team and I jumped over into a new world at Compass in Q4 of 2019. Today, we're based out of the Coconut Grove marina office. We start each day with gorgeous views and fill our schedule with exciting client meetings, sharing our newest technological competencies and enhanced global reach/access that make our transactions faster and easier than ever. Under this new umbrella, MJB Partners is empowered to be the community influencers that we are and encouraged to leverage my extensive experience that I contribute to each transaction. 2020 is a year you'll see another level for MJB Partners and I can't wait to bring you along on the ride! Cheers!

I have been selling real estate in our area since 1993 and have been a resident of Miami-Dade since 1969. I am consistently in the Top ½ of 1% of all agents nationwide based on total sales volume. Let my expertise work for you. Contact me for a private meeting and I will take care of the rest. The best way of reaching me is at (305) 444-7224 or you may email me at mauricio@miamisignaturehomes.com.

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Contact

  • Broker-Associate

    Mauricio J. Barba, P.A.
    Compass Real Estate

  • TELEPHONE

    305.439.8311 Mobile 305.444.7224 Direct 305.667.1757 Fax

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    2550 South Bayshore Drive, Suite 106
    Miami, Florida 33133

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