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as others have mentioned before, the biggest 2 effects covid has had on the housing market are the drop of fed rates & ppl working from home

too many variables currently affecting the housing market, both on a national & local level the fed & mortgage rates will have biggest affect of all for the "regular" housing market you still have investors buying & flipping you have corps treating houses like oil or gold (commodities) still...

$25 million just for the land https://www.zillow.com/homedetails/1-Leucadendra-Dr-Miami-FL-33156/2069769248_zpid/

maybe there's a lot of other things theyre considering as a family other than being near the water, like proximity to work & their relatives. also that might seem like a small house for $8mil but that same size home (w/ smaller lot size) is going for over $20 mil in gables estates. market down...