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Two luxury condominiums have so far exceeded $74 million in sales within the last 60 days, with a majority of their units purchased by domestic buyers.

And Vanessa Grout, CEO of OKO Real Estate, the sales and marketing arm of OKO Group, LCC., said the recent surge in domestic buyers signifies how wealth migration impacts the Miami real estate market, as she cited nearly 1,000 people have been recently moving to Florida daily. The competition is so fierce in this market, some out of state buyers are making purchases with all cash as supply dwindles.

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