Super Bowl week is a boon for South Florida businesses, but a bust for its real estate
But that's not necessarily a sign of bad times.
"Other than weekly rentals
, the Super Bowl is not big for us," said Miami Real Estate
broker and blogger Riley Smith
. "But it doesn't matter because this is our biggest time of the year anyway."
With three blogs - The Real Estate Coconut
, South Miami Real Estate Blog
, and Coral Gables Real Estate Vault
- Smith knows the housing market and he knows a lot about Super Bowl games. He's been to about six, and not all in Miami.
Out-of-town Super Bowl visitors are focused on good food, getting in some beach time, and checking out the shopping and the clubs. Looking for a winter escape isn't on their minds.
"They're enjoying the city," Smith says, "They might be saying 'what a great place I might want to spend more time here.'"
But shelling out a few grand for a down payment isn't part of the game plan for most visitors.
"The best thing about going to a Super Bowl is visiting another city," says Smith, a huge sports
fan himself. "It's a celebration and everybody is in a good mood and having a good time. It gets you thinking 'maybe I want to come back.'"
So, odds are this week's visiting football fans from Indianapolis and New Orleans might be back. But don't gamble on a housing sale.