I’ve noticed an incredible increase in activity in Pinecrest recently. And the numbers from April really show this off well, too.
There were 103 active listings priced up to $999,999 in Pinecrest in April – down from 117 listings in March. That’s a 12% decrease! We had 19 homes in this price range pend in April, with 5 closings. However, all of the closed sales were priced below $600,000.
Unfortunately, the average price per square foot is still coming down a bit – based on the 4 closings last month, we are currently at $184/square foot.
Don’t let that get you down though. This market is definitely starting to turn around – the number of sales is starting to rise, inventory is creeping down, and I’m confident that we are coming out of this bad real estate market soon.