Pinecrest Data for Year End 2009
It's been a pretty good year for Pinecrest. Overall home sales were up in 2009 compared to 2008 and the beginning of the year seems to see the trend continuing. Prices though have dropped a bit, but this was to be expected. I believe we are definitely seeing a stabilization of the market place in most of South Miami Dade.
All data that follows is for the entire Village of Pinecrest. If you would like a more specific market data for your home, please feel free to contact us. It would be our pleasure to provide you with one.
For Sale Vs. Sold:
From Jan to Dec, inventory for sale is down 23%.
Sold properties are up 18.2% year to date with pending properties year to date up 33%. The highest selling month of the year was June 2009 with 24 homes closed.
Months of Inventory:
In January, we had 24 months of inventory, while in December we only had 16 months.
Average Price per Square Foot:
The average asking price per square foot for homes is down almost 10% from January. In January the price was $225 a foot and in December it was $205 a foot.
Excluding REO's & Short Sales:
The lowest sales price in 2009 was $236,000 at 12855 SW 77 Avenue and the highest price sold was $3,665,000 at 5940 SW 108 Street. The average sales price by year's end was $1,105,576 at $239 a foot.
Acre Properties:
The average sold price for the year end for homes on acre properties was $1,459,707 at $265 a square foot.
Foreclosures and Short Sales:
At the time of this writing, there is currently only one home on the market in foreclosure and 24 short sales. In 2009, 16 homes were closed that were short sales between the prices of $295,000 to $2,325,000. There were 25 foreclosures closed between the prices of $261,000 to $865,000.
Lynn Cromer & Robin Parker are real estate sales and marketing professionals for Coldwell Banker in beautiful Pinecrest, Florida. For more information on Pinecrest, Florida or the communities of Coral Gables, Palmetto Bay and Coconut Grove, Lynn can be reached at 305-962-4068, Robin at 305-546-0447, by email at info@WeSellMiami.com or online at www.WeSellMiami.com.
All information from Trendgraphix
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