Pinecrest, Coral Gables & Palmetto Bay 2010 Year End Market Data
We have excluded Foreclosures and Short Sales from all the data. These types of properties typically attract a different type of buyer than is the custom. We hope you find this information useful. For more information, charts of this data, to sign up for email updates and to search the MLS for homes for sale, visit us at www.WeSellMiami.com.
All data is general to the city mentioned. 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.
Pinecrest has had a relatively good year. Year end sales are up although prices are down.
Inventory: 222 homes per month
Sales: Up 45% from 2009
Pending: Up 22% from 2009
Total Sold: 172 with 65 properties on acres
Months of Inventory: 14 in December 2010
Price per square foot: $257 down from $265 in 2009
Average Price Sold: $1,480,000 on acre and $730,000 on non-acre
Highest Sale: $3,665,000 at 5940 SW 108 St
Coral Gables Data:
Coral Gables hasn’t fared as well as Pinecrest or Palmetto Bay. The average price in Coral Gables is higher, therefore attracting less buyers in general. Prices and sales were down in Coral Gables for 2010.
Inventory: 575-600 homes per month
Sales: Down 27% from 2009
Pending: Down 53% from 2009
Total Sold: 222
Months of Inventory: 17 in December 2010
Price per square foot: $260 down from $270 in 2009
Average Price Sold: $711,000
Highest Sale: $3,650,000 at 280 Las Brisas Ct
Inventory: 80 homes on market per month
Sales: Up 100% but only One sale in Dec 2009 and Two in 2010
Total Sold: 25
Months of Inventory: 37.5 months in December 2010
Price per square foot: $598
Average Price Sold: $3,800,000
Highest Sale: $12,900,000 at 8585 Old Cutler Road
Palmetto Bay is doing quite well. Sales are up a whopping 31% and there is only a 6 month supply of homes on the market. This supply is down 53% from November! If that continues for a period of 3-6 months, we could be seeing a balanced market or even a rising market in Palmetto Bay for 2010.
Inventory: 135 homes per month
Sales: Up 31% from 2009
Pending: Down 9% from 2009
Total Sold: 132
Months of Inventory: Only 6 months in December 2010 (Lowest in entire area!)
Price per square foot: $155 down slightly from $158 in 2009
Average Price Sold: $451,000
Highest Sale: $1,662,000 at 14001 Cartee Road