London Foster Realty at Dadeland
Liz Kenneally | Realtor

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If you’ve been keeping tabs on Miami’s real estate scene, get ready for some exciting news. A recent SmartAsset study reveals that Miami-Dade, Broward, and Palm Beach counties are leading Florida’s GDP growth in 2024.

What does this mean for you? Let's break it down why this economic boom spells out big opportunities for real estate investors, homeowners, and businesses alike.

The Miami-Dade Economic Boom

Let’s discover into what’s driving this economic surge in my hometown:

1. A Diverse Economy: Miami isn’t just about its stunning beaches and vibrant nightlife. It's a bustling center for tourism, finance, international trade, and technology. With the Port of Miami and Miami International Airport as major economic engines, our local economy is booming.

2. Population Growth: People are flocking to South Florida for its pleasant climate, dynamic cultural scene, and abundant job opportunities. This influx is driving up housing demand, particularly in the areas I specialize in like Dadeland, Continental Park, Kings Creek, Kendall, Coral Gables, and South Miami.

3. Business Investments: Broward County, just north of Miami-Dade, is witnessing a surge in tech and healthcare investments. With a business-friendly environment and a skilled workforce, it's becoming a prime location for companies to establish themselves.

4. Luxury Market: In Palm Beach County, just north of Broward, the luxury real estate market is thriving. High-net-worth individuals are investing in upscale properties, leading to increased property values and new developments.

Miami Dade Economic Growth
The graph above pertains to Florida, while the SmartAsset study delves into investment trends across the United States. This study evaluates investment patterns in various counties using three primary indicators: business establishment growth, gross domestic product (GDP) growth, and the issuance of new building permits.

Miami Outpacing Orlando

Let’s contrast Miami's success with another popular Florida city: Orlando:

1. Economic Diversity: While Orlando relies heavily on tourism, Miami's economy is more diversified, with significant contributions from finance, international trade, technology, and healthcare. This diversity provides stability and fuels growth across various sectors.

2. International Business Hub: Miami’s strategic location as a gateway to Latin America attracts multinational corporations and drives international trade. This global presence boosts our local economy and creates numerous job opportunities, a factor not as prominent in Orlando.

3. Real Estate Demand: While Orlando's real estate market benefits from tourism and a growing population, Miami's market sees high demand for both residential and commercial properties. The influx of investors and international buyers keeps the real estate market competitive.

4. Cultural Appeal: Miami offers a unique cultural blend, attracting both tourists and permanent residents with its world-class dining, arts, and entertainment. Orlando's appeal, while strong, is primarily tied to its theme parks, which doesn't sustain long-term real estate demand as effectively.

Comparing Miami to Austin, Texas

Now, let's take a look at how Miami stacks up against Austin, Texas, another city that's been drawing in a lot of folks lately.

1. Global Connectivity: Miami’s international connectivity gives it an edge in attracting global business and trade, particularly with Latin America. Austin, while a tech hub, lacks this level of international influence.

2. Economic Diversity: Austin’s economy is heavily tech-oriented, but Miami's diverse economy spanning tourism, finance, healthcare, and trade provides a broader base for growth.

3. Real Estate Dynamics: Miami's luxury market is robust, attracting high-net-worth individuals worldwide. This drives property values up and spurs luxury developments.

4. Cultural Appeal: Miami's diverse cultural influences, combined with its beaches and entertainment options, make it attractive to a wide range of people. Austin, known for its music and tech, appeals mainly to a tech-savvy demographic.

Ready to Make Your Move?

With the impressive GDP growth in these counties, now is the perfect time to invest in Miami real estate. Whether you're looking to buy a home, invest in rentals, or dive into commercial real estate, opportunities abound.


About the Author: Liz Kenneally is a seasoned real estate agent in Miami with extensive experience in the city's dynamic market. She is also licensed in community association management. Liz specializes in coveted neighborhoods of Coral Gables, Dadeland, Continental Park, East Kendall, Palmetto Bay, Pinecrest, South Miami, and The Falls, Liz ensures smooth transactions for her diverse clientele. Fluent in both English and Spanish, she can be contacted at 786-423-3348 or through the EMAIL AGENT form provided alongside this blog.




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What my clients are saying  

Efficient, Effective, and Ethical! Working with Liz Kenneally was an absolute pleasure. Her efficient and effective approach to real estate made the entire process seamless and stress-free. From the moment we met Liz, we knew we were in good hands. She took the time to listen to our needs and preferences, ensuring that we found the perfect home in South Miami. Liz's commitment to ethical practices and transparency gave us peace of mind throughout the transaction. We highly recommend Liz to anyone looking for a trustworthy and reliable realtor in Miami.

 

~ Michael and Jennifer D.

I hired Liz Kenneally to lease out my apartment, and within just 1-2 weeks, she secured long-term tenants who have been a great to work with for the past three years. Her efficiency, professionalism, and warm demeanor made the entire process seamless. Liz understood my needs and executed flawlessly. I couldn't be happier with the outcome. I wholeheartedly recommend Liz!

 

~ Sofia I.

Finding office space for my company was made effortless thanks to Liz Kenneally's exceptional service. Referred to her by a trusted source, I quickly understood why she comes highly recommended. Liz guided us through every step with professionalism and expertise, ensuring we secured the perfect space to meet our needs. The office space exceeded my expectations, boasting a prime location, generous square footage, and excellent amenities. Liz's attention to detail facilitated a seamless transition into our new workspace. Her responsiveness and proactive communication made the leasing process a breeze. Working with Liz Kenneally was a pleasure, and I wholeheartedly recommend her to anyone in search of commercial real estate. Five stars all around!

 

~ Paul M.

Professionalism Personified! Liz Kenneally is the epitome of professionalism. Her attention to detail, proactive communication, and tireless work ethic set her apart from other realtors. Liz guided us through the process of buying our dream home in Coral Gables with ease and confidence. She was always one step ahead, anticipating our needs and addressing any issues promptly. Liz's commitment to excellence and integrity made us feel confident and reassured throughout the entire transaction. We cannot recommend Liz highly enough!

 

~ James and Amanda R.

Liz Kenneally proved to be an exceptional real estate agent. Her expertise in Dadeland area homes, our preferred locale, was truly impressive. Liz's dedication to understanding our needs, preferences, and budget constraints was evident throughout our interactions. She tirelessly worked to find us the perfect home, keeping us updated and promptly addressing all our questions. Liz made the entire process enjoyable, turning house hunting into an adventure. I enthusiastically endorse her to anyone in the market to buy or sell. Thank you, Liz, for your outstanding service!

 

~ Camila I.

5 Stars for Responsiveness, Negotiation skills, Professionalism and communication, Market expertise, Was on point at every turn, from offer to closing.

 

~ Jordi B

Liz went above and beyond to market our property effectively, attracting a flood of interested buyers. Her attention to detail and commitment to showcasing our home in the best possible light truly paid off. We couldn't believe it when offers started pouring in, and even more so when the final sale price exceeded our initial expectations! It was the highest sold price in the community! Liz was responsive, proactive, and always had our best interests at heart. Her negotiation skills were impeccable, ensuring that we got the best possible deal for our property.

 

~ Willy and Gloria P.

Liz was the listing agent for a Miami property I called on and made an appointment to see . That's how it all started.I wasn't working with any agent and I told Liz I didn't want to commit to anyone. She stated she understood, nevertheless, she was relentless in keeping in touch with me. Finally, in one of her phone calls, Liz asked me if she was working hard to get my business ? I said yes, of course. Then she stated, "Imagine, what I am capable of doing in finding and negotiating for you in a tough and competitive Miami market?". That clinched it !

 

~ Arile R.

I want to thank this wonderful Lady that stuck with me until I found just the right place. I am very satisfied and you will always have a friend here. Thank you for everything Liz, you're the best.

 

~ Manny

We trusted her strategy and ended up buying the property that we were initially turned down on. You can say Liz turned that No into a Yes for less money! She is relentless. Thank you, Liz, you are a hard worker, trustworthy, on top of your game and simply a pleasure to team up with you

 

~ Alex Y.

As a business man, one of the things that impressed me about Liz is is her negotiation skills, patience and cool under pressure. She looks for a win-win even though at times we were just being one sided. Liz reminded us it's a sellers' market with properties selling quickly at or little above asking price in the area we wanted to buy.Whatever we weren't familiar with, Liz simplified it so we felt comfortable and understood the transaction.

 

~ Vincent S.

"...One of her best qualities is her ability to stand back, listen to your needs, present you all the alternatives and let you make the original decisions. She is not assertive with her opinion but when she says you better listen because it will be in your own best interest..."

 

~ Ioannis L.

I had a great experience with Liz in the sale and purchase of my new home. She was always available to answer questions with great confidence and knowledge. I consider her a personal friend since we met, through the process of buying this home. Highly recommend her to anyone looking to sell or buy.

 

~ Maria D

Ms Liz Keneally was a angel sent. I was going through personal hardship. And having a hard time not only selling The property but with the result of impending foreclosure. Which at the time was a very difficult time in my life. And she came along. And got a contract within a week. And I have nothing but gratitude towards her and her team. That treated me and my children like family.

 

~ Xenia L.

Liz has been a wonderful real estate agent for us. She is an excellent communicator, and communicates in a very timely manner. Liz provided easy to understand comparisons when we had multiple offers for the property that we were selling. Liz makes sure that all the details are taken care of, and most importantly perseveres in resolving the many issues that arise in a real estate transaction. We have been extremely happy with the work that Liz has done for us. We would highly recommend her for anyone who is seeking to sell or buy property.

 

~ Gary N

As a first time home buyer, I was nervous and worried about being taken advantage of. Liz calmed my nerves and guided me through the process. She was easy to communicate with and took the time to educate me.There were times, we had to negotiate and Liz always made sure to keep the deal alive, while protecting my interests. I have only wonderful things to say about her and would work with her again.

 

~ Sarah S.

Liz was professional from the exploratory stages of home buying to its completion. As a first-time buyer, I was looking into foreclosures. I did not expect the unexpected to say the least. From negotiations to paperwork, I am truly grateful for Liz's knowledge and skills. She guided me through the process and stood by my side when delays arose and frustrations even larger. Her calmness and verbal prowess ultimately helped me secure my very first home! Thank you, Liz!

 

~ Hennifer M

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