I have not done a market update recently and wanted to give a report on the Pinecrest market from $2-$3 million. I have felt an uptick in activity in this price range and you will see the overall Pinecrest market has felt one, as well. I am comparing and averaging activity from April, May and June of 2014, 2015 and 2016. In 2014 there were 7 homes sold in this price range, 6 in 2015 and 10 this year. That is a 42% increase in 2016 since 2014. The pending sales were 2 in 2014, 10 in 2015 and 9 in 2016. This is a 78% increase since 2014 with a 10% decrease since last year. So while the sales are looking good, the inventory has represented the greatest change over the past couple of years with a 113% increase since 2014 and a 34% increase since last year. We currently have an average of 58 homes on the market between $2-$3 million with an average of 3.33 selling each month. This gives us 17 months of inventory. We always say a healthy inventory is about 6 months, so we are clearly still in a buyer’s market for this price range. That being said, a new and beautifully done home in this market is breaking all molds and selling at a high price per square foot.
There are lots of great homes coming on the market. If you would like to see one contact me at 305-798-8685, or visit my website at: Luxury Miami Real Estate
My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.
Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!
Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.
