Luxury Miami Real Estate

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550 South Dixie Highway

Coral Gables, FL 33146

Cell: 305-798-8685

Office: 305-960-5330

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Pinecrest Market Update

Earlier this week I blogged about closed sale prices in North Pinecrest between $3,000,0000 and $5,000,000. In that post I mentioned that in the past 6 months, homes between $3,000,0000 and $4,000,000 have closed for significantly less per square foot than their counterparts in the $4,000,000 to $5,000,000 range. That is just a part of the picture, so this week I have run Facts and Trends to show you what has been happening in the high-end Pinecrest market overall. Take a look at the charts below.


First of all, when you are looking at these images, please disregard September, 2017. Hurricane Irma blew through Florida starting on September 10, 2017, and with the recovery and cleanup after the storm, September became a lost month for South Florida real estate. Other than September of 2017, these charts do show you what has been happening in the luxury Pinecrest market over the past year or so.


For example, you can see that there were no sales between $3,000,000-$5,000,000 from September of 2016 through February of 2017. Back then I kept saying “it feels like the high-end Pinecrest market is down,” because I showed property but could not get anything in that price range in Pinecrest to move. Well now I see that I was right. It did not just feel like the market was down, it actually was down during those months.

While the market for these high-end listings has come back since earlier this year, this type of house does not necessarily fly off of the market quickly. This is made clear by the fact that in between March and August of 2017 they averaged 230 days on the market. During 4 out of those 6 months, houses in this price range closed for significantly lower dollar amounts than their listed price per square foot, so pricing is obviously a huge factor in the amount of time that homes are spending as active listings.

Just like my gut told me that the market had slowed down in late 2016 and early 2017, it feels to me like the luxury Pinecrest real estate market is going to pick back up after September’s weather-related glitch. There are serious buyers out there, and they want to live in Pinecrest. This time next year when I run these Facts and Trends again, I would not be surprised if the 4th quarter of 2017 reflects Pinecrest’s strongest market of the year!

Download and print all of these charts of Pinecrest’s Facts and Trends

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8685, or visit my website at: Luxury Miami Real Estate

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}. Senior Vice President, EWM Realty International.

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Pricing North Pinecrest Luxury

I’ve recently been working with a buyer who is looking for homes in the high $3,000,000 to mid $5,000,000 range. She is moving to Miami from another part of the world, so we have been looking at different areas: Coconut Grove, Coral Gables, Ponce/Davis, and Pinecrest. These are all great options with lots of lovely homes, so we are narrowing it down to find this buyer’s perfect fit, but Pinecrest has definitely grabbed their attention. When looking at comps, this is what I found.

Over the course of the past 6 months, North Pinecrest homes that were listed between $3,000,000 and $4,000,000 have sold for a high of $478.20/square foot, an average of $410.65/square foot, and a low of $343.10/square foot. The low was a bit skewed because it was a house where roughly one third of the lot is under water (not “under water” like a buzzy real estate term, but actually under the water of a lake!).

Homes listed between $4,000,000 and $5,000,000 have closed for significantly higher prices per square foot as of late. Their high, average, and low come in at $543.71, $525.53, and $507.35 per square foot, respectively. This price discrepancy is due to the fact that nearly all of the $4,000,000-$5,000,000 homes are brand-new construction, while many of the homes in the slightly-lower price range are a bit older, though still magnificent.

There are some wonderful luxury properties available in Pinecrest right now, and now you know a bit more about their pricing. Check out my listing at 5800 SW 93 Street – listed at $3,495,000, or $428.88 per square foot, it is priced right where it should be!

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8685, or visit my website at: Luxury Miami Real Estate

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}. Senior Vice President, EWM Realty International.

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St. Joseph and Real Estate

I recently closed a deal on a great house in Pinecrest that took a bit longer than anticipated to sell. After an open house one Sunday the then-homeowner approached me and asked me to bury St. Joseph in her front yard. She said that she would do so herself, but that she was not Christian so she did not think that it would work.

If you are wondering why any buyer in their right mind would ask their realtor for religious assistance, it is because St. Joseph is said to help sell homes. All you have to do is bury a statue of the saint in a particular manner. I had always heard that he should be buried upside-down, facing the house, and within 3 feet of the for sale sign; however, upon Googling the matter I learned that there are several theories regarding his placement at a listing. Some people even believe that you can bury him in a pot, which is handy for condominiums!

No matter how you bury St. Joseph there is a consensus that you must say a prayer to him for a speedy sale, thereby encouraging this patron saint of home and family to bring you good fortune.

I happened to sell my Pinecrest listing without divine intervention, but it’s good to know that St. Joseph is there for support if I ever need him.

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8685, or visit her website at: Luxury Miami Real Estate.

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.

As the #7 Realtor company-wide at EWM in 2014, 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.

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Pinecrest End-of-Year Market Analysis

Pinecrest Homes for SaleAs we wind down the 2014 year, I wanted to continue analyzing the market in the South Florida area, focusing on Pinecrest this week. The Pinecrest real estate market has remained strong, but has increased in inventory slightly, as this graph shows. Inventory a year ago averaged 107 properties, while this year the average is 125. In spite of the higher inventory, the average price per square foot has also grown from $271.33/square foot last year to $331.33/square foot this year. The amount of pending sales are up from 13.33 to 17.33 and the closed sales are up from 11.67 last year to 14.67 this year. Pinecrest has continued to see great growth, with the increase in land sales prices helping to drive this number up. For more information on Pinecrest homes or other South Florida real estate, please contact me at 305.798.8685 or visit my website: Luxury Miami Real Estate.

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 20 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.

As the #3 Realtor company-wide at EWM in 2012 with over $55 Million in sales, 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.

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The Skinny on the Pinecrest Real Estate Market

Pinecrest Real Estate
Typically we are finding the market to have leveled out after great growth in the past couple of years, but what is Pinecrest experiencing? I looked at the Pinecrest home market between $1,000,000-$2,000,000, comparing this past quarter and the same quarter last year. I found that inventory is up 16%, which is good because we were slightly off balance last year with a lack of inventory. You have heard me say many times that a balanced market is one with an inventory of 6-12 months. We are just over 12 months at this time. Sales and pending sales are both up 20%. Price per square foot, which is not shown on this graph is neutral at about $300/square foot. This is all good news. The market has gained it’s footing, but not seeing the exorbitant growth we were.

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 20 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.

As the #3 Realtor company-wide at EWM in 2012 with over $55 Million in sales, 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.

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We’re Looking for Houses in Coral Gables, Pinecrest and South Miami!

HOUSES

There are a lot of buyers out there right now! A few buyers in particular that I am working with have seen everything on the market and cannot find what they are looking for. We have exhausted every listing! So if you are considering selling your house and it fits the following parameters, please contact me. I’d love to hear from you.

–       Around $2 million in Ponce/Davis, Hammock Lakes, Kerwood Oaks, north Pinecrest areas. Prefer contemporary with at least 20,000 sq ft of land and 5,000 sq ft house with a pool.

–       Up to $650,000 in Coral Gables/South Miami/Pinecrest areas. At least 3 BR/2 BA, 2,000 sq ft with some updates and room for a pool.

–       Up to $325,000 in Coral Gables/Schenley Park/Red Rd area. At least a 2 BR/1 BA.

Please help me find a home for my eager buyers!

Interested in real estate in Miami? My areas of specialty are Coral Gables, Coconut Grove, Pinecrest, Ponce-Davis, South Miami and waterfront properties. Feel free to call or email me today. Let me and my team help you in your search!

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Beautiful New Pinecrest Real Estate Listing!

7321 SW 110 Terrace ~ $1,199,000

7321 SW 110 Terrace ~ $1,199,000

I have just listed a beautiful new house in Pinecrest that I am thrilled to share with you!  7321 SW 110 Terrace. This house has been COMPLETELY renovated with a substantial new addition.  The home has 5 bedrooms & 4.5 bathrooms plus an office and is situated on a very private, no-thru street backing up to a canal.  The owners spared no expense on the renovations and the home shows beautifully. For details and additional pictures, visit the property’s website here!

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