Bigger is Better!

In an analysis of the current state of the national real estate market, Realtor.com found that, “bigger is definitively better again when it comes to houses. In these post-lockdown times, home buyers seem desperate for more space, whether for a big yard, a dedicated home office or two, maybe a homeschooling area, home gym, or an extra bedroom or three. Palatial abodes are topping most buyers’ wish lists.”

Realtor.com considers a large home to be 4,000 square feet or above, and said that “For perspective, the average square footage of a new single-family home was 2,500 in 2020, according to U.S. Census data.” These large homes can be slower to sell, particularly because their larger size generally makes their prices higher; however, in the vast majority of the country, their sales were up in February 2021 when compared to the same month last year.

The article mentions that the Miami metro area is #9 in the nation as far as the number of single family homes measuring 4,000+ square feet, and it is a good thing that that is the case, as it seems like every buyer we encounter is looking for a large home. Inventory in South Florida is down across the board, and even as I work with buyers in the ultra-luxury price range of $10,000,000 - $20,000,000, it is hard to find homes for sale! If you have a home in this range, please let me know as I have buyers who are actively looking to purchase a property of this caliber.

Check out the full article: “Supersize me! Here are the Metros Where Buyers Are Clamoring for Big Homes Again.”