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Debra Wellins


Market Trends Category

Cool New Futuristic Building Materials

Debra Wellins At the top of the cool building material chart is a company called uBeam who is leading the charge, so to speak, in wireless smartphone charging techniques.  uBeam is developing an ultrasonic sound transmitter that will fill a room with inaudible energy.  A receiver in your wireless device will be able to pick up the sound and convert it back to energy, allowing owners to charge their devices anywhere in the home.  The transmitters can be placed around the home to provide... Continue Reading >

Inventory of Homes for Sale is on the Rise – Especially in Palmetto Bay

Debra Wellins There are definitely more homes on the market this year over last.  Take a look at the graph to the right that compares single family homes for sale between Jan 1 and June 1 in 2013 and 2014. Palmetto Bay has seen the greatest increase in homes for sale, up by 44%.  This is a super hot area to buy in right now. South Coral Gables has had the second highest increase in inventory at 22% followed by The Village of Pinecrest and Key Biscayne at 18% and... Continue Reading >

Pinecrest May See Decline in Sales Price Per Square Foot

Debra Wellins This year, single family homes in the Village of Pinecrest have sold for an average of $300 per square foot. I've been looking at pending sales data for 2014 and it shows the average list price per square foot at $260. Since the average sale price to list price ratio is 95% for the year, meaning that the average home sells for 95% of the asking price,  we can expect pending home sales to close at an average of $247 per square foot. This is not necessarily a... Continue Reading >

Pinecrest Home Sales – Price Per Square Foot Up 13%

  Pinecrest homeowners have good reason to be happy as the first quarter of 2014 comes to a close. I crunched the numbers of single family home sales in The Village of Pinecrest and compared sales from this year to sales from last year for the same time period (January to present). The average sale price is up $ 40 a square foot and the median sales price is up $37 a square foot.  That's a 13% increase for both average and median sale price per square foot. I am a Pinecrest... Continue Reading >

Pinecrest Homes – February Sales

The February 2014 stats are in and the number of single family homes sold in the Village of Pinecrest is identical to February of last year. Twelve homes sold at an average sale price of $1,435,683 or an average price per square foot (SF) of $323. When looking at all sales for the month of February, the average sales price per square foot is up 18% from last year.  However, there is one sale that tremendously skews the data. In the chart you will notice the sale of a 2 bedroom, 2... Continue Reading >

Pinecrest Homes – Rosy Sales in January 2014

Debra Wellins Single family home sales in the Village of Pinecrest are rosy this year compared to last.  Seventeen homes closed this January with an average sales price per square foot of $290.00 and an average sale price of $1,435,338. In 2013, only 10 homes closed during the same month with an average sale price per square foot of $ 238 and an average sale price of $784,500. That's an 18% increase in sale price per square foot and a 45% increase in average sales... Continue Reading >

What’s For Sale in Pinecrest?

Debra Wellins As of January 31, 2014, there are 95 single family homes for sale in The Village of Pinecrest. The hot price ranges are between $1 - 2 million with 33 active listings and $500,000 - $999,999 with 26 active listings. In the ultra luxury market, 19 homes are for sale between $2 - 3 million, 12 homes are for sale between $3 - 4 million and four homes are for sale above $4 million.  Only 1 home is for sale under $500,000. In January, Pinecrest had 25 new homes come on the... Continue Reading >

The Village of Pinecrest 2013 Market Report – The Year in Review

In The Village of Pinecrest, 228 homes single family homes sold in 2013 with a total sales volume of $254,928,575.  Sales ranged from $305,000 to $3,800,000.00 with an average sale price of $1,118,108 and an average price per square foot (SF) of $256.  The average sale price increased 13% and the average price per SF increased by 9% over 2012 values. In the exhibit below, Pinecrest is divided into approximate quadrants to evaluate the statistical differences within the community. North and south is divided by 112th... Continue Reading >

Luxury Home Trends for 2014

Debra Wellins The luxury home buyer wants amenities, services and infrastructure.  Here's the 2014 lux wish list. Amenities  Range of common spaces: on-site fitness centers, pools, spas, theatres, lounges, roof gardens, art galleries  Parking and storage Services  Hotel-like services: concierge, doorman, housekeeping, dog walking, catering, fine dining  Security and privacy Infrastructure Flexibility for renovations High ceilings Finishes equivalent to a five-star hotel Family kitchens along with commercial quality kitchens Classic layouts and traditional materials such as stone and glass Sustainability in mechanical, electrical and plumbing systems High-end technology - smart homes If you'd like to read my blog about the state of luxury real estate in three world... Continue Reading >

Luxury Defined – Miami – New York – London

Debra Wellins Christie's International Real Estate just came out with their report on the state of luxury real estate in three world class cities, Miami, New York and London, all of which are experiencing significant growth. Buyers with high net worth, wishing to spend $1 million or more on residential property, can afford to acquire homes anywhere in the world, and often do so in multiple locations.  They view real estate as a safe investment. While 2012 was a rebound year for increasing home prices in... Continue Reading >