Pinecrest, Florida Market Data April 2010-Sept. 2010

By
Real Estate Agent with ReMax Advance Realty

Pinecrest Sales Data for past 6 months.

It's that time of year for data for the last 6 months. Although it might seem that we have no seasons here in Pinecrest, our selling season is highest in the "Spring/Summer", which corresponds to typical selling seasons throughout the country.

You'll see the most homes sold in early Spring with a drop starting in September. We should see this drop continuing through January of 2011. The amount of sales this year is slightly down from last year. I believe this shows a stabilization of our marketplace.

These graphs do not include any REO or Short Sales. I will discuss their impact at the end of the blog.

Below is one of my favorite pieces of data, which is how much per square foot are homes in Pinecrest selling for. See below.

The average square foot price sold for the past 6 months was $250. This is the same price per square foot as the same time last year.

Another great graph, shows sales prices based on their ask price. These prices too are down a bit from last year. I know many people tell me they will not sell until prices come back again, but truthfully, as our market continues to stabilize, we will continue to see slight decreases in home prices. This is what is bringing out the buyers.

Lastly, one of the most important factors of all this information, is how many months of inventory is there in Pinecrest. The more homes on the market, the longer our recovery.

Pricing is crucial if we are to move forward to more normal times. Inventory is up this year compared to same time last year again pointing to a decrease in pricing.

Foreclosures and Short Sales: Of all these sales in the past 6 months, an additional 7 were Foreclosure sales, with an additional 18 sold as short sales. Fortunately, Pinecrest is not plagued by foreclosures as many other areas are. This helps keep up our prices as appraisers are not forced to compare a "Real" sale to a foreclosure or a short sale. Most of these REO/Short sales were priced from $400,000-$700,000. Only one was above a million dollars at $1.2Million. The average square foot price of these sales was under $200.

 

Posted by

Lynn Cromer & Robin Parker are real estate sales and marketing professionals for Coldwell Banker in beautiful Pinecrest, Florida. We have over 25 years of real estate experience!
For more information on Pinecrest, Florida or the communities of Coral Gables, Palmetto Bay and Coconut Grove, Lynn or Robin can be reached at 305-962-4068 for Lynn, at 305-546-0447 for Robin, or email us and visit us online at www.WeSellMiami.com.

Also, let's connect on these great social networks. It's fun!

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Lynn Cromer & Robin Parker
Coldwell Banker Pinecrest Office
305-962-4068 Lynn Cromer
305-546-0447 Robin Parker

We would be honored to help a friend, family member or colleague in their real estate needs.

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Lynn, This is one of the most beautiful market data reports I've ever seen!  Fantastic job you're doing for the Pinecrest FL real estate consumer.

Oct 21, 2010 10:53 AM #1
Rainmaker
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Lynn Cromer
ReMax Advance Realty - Miami, FL

Thanks. I have family in Charlotte. I'm originally from Gastonia!

Oct 21, 2010 11:04 AM #2
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Lynn Cromer

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