Brooklyn Beckham and Fiancée Nicola Peltz List $11 Million L.A. Home, Plan Move to Miami: Source

The couple, who got engaged in July 2020, would like to be bicoastal, with residences in California and Florida near their families, the source says

Photo: Anthony Barcelo. Inset: Pascal Le Segretain/Getty

Brooklyn Beckham and Nicola Peltz are saying goodbye to their Los Angeles mansion — and house shopping in Miami, a source tells PEOPLE.

The eldest child of David and Victoria Beckham, 22, and his actress fiancée, 27, listed their home of less than a year for $10,999,999 million on Friday with Carl Gambino of Compass, the same agent who sold them the property in the summer of 2021, according to the source.

"They loved the house and are sad to be listing it, but realized that they wanted to be more flexible and bicoastal. They want to have both a place in L.A. and one in Miami to be closer to their families, so a property this big just didn't make sense as they started looking at their more immediate future plans," the source says, noting, "Brooklyn's family has a place in Miami and Nicola's family is in Palm Beach."

Anthony Barcelo

After launching a new soccer team, Inter Miami FC, in the city, David, 46, purchased a penthouse in Miami's One Thousand Museum Residences with a reported $20 million+ price tag in 2020 after a year and a half of house hunting, a source told PEOPLE at the time.

Brooklyn Beckham, David Beckham and Victoria Beckham. Samir Hussein/WireImage

"With the launch of Inter Miami CF, David and his team are spending significant amounts of time in Miami," a rep for Beckham stated in a release obtained by PEOPLE confirming the sale. "One Thousand Museum is a very special building, and we are excited to join the community here."

Anthony Barcelo

As they look for a property in Florida and, presumably, for a slightly more modest home in L.A., Brooklyn and Nicola aren't worried about finding a buyer for their current place. The source tells PEOPLE: "When Brooklyn and Nicola bought the house there were a lot of people bidding including an A-list singer and a tech CEO. It's a hot property and should go fast."

The couple purchased it for $10.5 million, according to its previous listing on Compass's website.

Anthony Barcelo

The 7,700 sq. ft. property, which sits on just over a third of an acre, has five bedrooms, five full bathrooms and two half baths. Expansive walls of glass throughout connect indoors and out and offer beautiful views of the surrounding hills.

Anthony Barcelo; Bertrand Rindoff Petroff/Getty Images

Known as OM House, the property is filled with features that prioritize wellness and mindfulness, including a massage room, sauna, steam room and rooftop meditation path.

Anthony Barcelo

There's even a smokey quartz crystal installed as part of the entryway to "purify and neutralize unwanted energy," according to the listing from when the couple purchased the house.

Anthony Barcelo

Brooklyn and Peltz, who went public with their relationship in January 2020, revealed they got engaged in July of that year.

"Two weeks ago I asked my soulmate to marry me and she said yes," Brooklyn wrote alongside a romantic engagement snap of the pair on Instagram that also showed off the Transformers: Age of Extinction actress' stunning diamond sparkler.

"I am the luckiest man in the world," he added. "I promise to be the best husband and the best daddy one day ❤️ I love you baby xx."

Brooklyn Beckham and Nicola Peltz. Brooklyn Beckham/Instagram

They put their wedding on hold due to COVID-19 restrictions, but said in November that they hope to tie the not in 2022.

Brooklyn said in an interview with Hello!, "We've been engaged for a year and if COVID wasn't a thing we'd have liked to have been married already, and it has been a bit difficult."