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Debra Wellins

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Plenty of Pinecrest Homes for Sale but Slow to Sell

There are plenty of single family Pinecrest homes currently on the market, 205 to be exact. The average list price is $2,354,283 or $411/SF.  But, there is a big discrepancy between the offered price and sale price.

Since January this year, a total of 77 homes have sold with an average sale price of $1,245,886 or $305/SF. These homes were on the market an average of 141 days.

Let’s break it down by price range.

Lux Market $2 Million and Up

There were 12 sales between $2,058,000 – $3,800,000, the average sale being $2,660,265  or $352/SF. These homes were on the market an average of 184 days, not surprising as luxury homes usually take six months to sell on average.

Lux Market $1 Million to $2 Million

This was the hot market with 28 sales between $1,015,000 – $1,950,000, the average sale being $1,308,857 or $319/SF.   Homes were on the market an average of 143* days.

Pinecrest Homes Under $1 Million

  • 13 Sales between $800,000 – $975,000     Average sale $876,824 or $273/SF     On the market an average of 116 days
  • 18 Sales beteween $650,000 – $795,000   Average sale $719,722 or $279/SF       On the market an average of 126 days
  • 6 sales between $420,000 – $549,000       Average sale $500,667 or $140/SF      On the market an average of 140 days*

*The biggest surprise is the last category, below $600,000.  Homes are taking as long to sell as in the luxury market.

It’s still a good time to sell, but don’t price your house way above market value and think the right buyer will come along and overpay.  It’s not happening in this current market.  When a house is priced less than 10% above market value, it sells, especially if its prepped and marketed properly.  Most homes are selling at 94% sale price to list price.

Click this link to view Pinecrest Sales 2016.

View Listings in the Village of Pinecrest

I’m an estate specialist in The Village of Pinecrest and your best source for news and information on Pinecrest real estate.  If you would like to schedule a buyer, seller or investor meeting, please call, text or email me.  305-898-1852  Wellins.D@ewm.com

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