This Super Bowl Weekend, Miami’s Luxury Market Could Go All the Way

Local agents are preparing for an influx of wealthy football fans who might go real-estate shopping when they’re not at the big game

When the Kansas City Chiefs take on the San Francisco 49ers in the Super Bowl, host-city Miami will be flooded with wealthy football fans—the ones lucky enough to score the high-price tickets.

Now, local real-estate agents are hoping to be lucky enough to get some of those visitors to part with more of their money.

“We’re very focused on trying to capture a slice of that high-end potential purchaser who is coming in,” says Shahab Karmely, CEO and founder of KAR Properties, which is behind the development 2000 Ocean in Hallandale Beach.

Ben Moss, director, East Coast, sports and entertainment division, for Compass Florida, said he has three clients in town for the Super Bowl whose post-game activities will include seeing a slate of luxury homes.

Some of the local wealthy homeowners and agents are hosting exclusive cocktail parties and open houses, with the intention of just getting their homes known should they decide one day to sell.

Miami scored big with house-hunters the last time it hosted the bowl game a decade ago. Home prices have surged 72% from the third quarter of 2009 to the same 2019 quarter.

Even without a game, Miami would be in its prime season for property sales, which is roughly between Jan. 15 and May 15, says Ryan Shear, managing partner at the Miami and New York development group PMG.

That period is when Florida attracts so-called snowbirds from the North who are seeking warmer weather—along with a mix of cultural events and a robust nightlife.

Mansion searched the city area for properties priced roughly at the cost of a 30-second commercial spot on the Sunday broadcast: $5.6 million.

wsj.com / balkantimes.press

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