"Miami real-estate agents said buyers continue to pay a premium for a simple reason: There is not enough inventory to meet demand. No longer driven by Covid, 𝙏𝙃𝙀 𝙄𝙉𝙁𝙇𝙐𝙓 𝙊𝙁 𝙒𝙀𝘼𝙇𝙏𝙃 𝙄𝙎 𝙎𝙏𝙄𝙇𝙇 𝙃𝘼𝙋𝙋𝙀𝙉𝙄𝙉𝙂 𝘼𝙎 𝙋𝙀𝙊𝙋𝙇𝙀 𝙈𝙊𝙑𝙀 𝙏𝙊 𝙁𝙇𝙊𝙍𝙄𝘿𝘼 𝙁𝙍𝙊𝙈 𝙃𝙄𝙂𝙃-𝙏𝘼𝙓 𝙎𝙏𝘼𝙏𝙀𝙎 𝙁𝙊𝙍 𝙅𝙊𝘽𝙎, 𝙒𝙀𝘼𝙏𝙃𝙀𝙍 𝘼𝙉𝘿 𝙇𝙄𝙁𝙀𝙎𝙏𝙔𝙇𝙀. People who moved a few years ago are also upgrading—moving from a condo to a house or from a landlocked lot to a waterfront property. (Article link below, with insight from Master Brokers Forum members Dora Puig, Nelson Gonzalez, and frequent guest panelist Ana Bozovic.)
https://archive.ph/vFpNZ#selection-2793.0-2793.410