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Debra Wellins


Market Trends Category

Five Year Comparison of Average Price Per Square Foot in Pinecrest

Debra Wellins In looking at the "average list price per square foot" and the "average sale price per square foot" in Pinecrest, there is good reason for optimism.  These numbers are indicative of buyers and sellers frame of mind. Between  2009 - 2011, prices per square foot declined.  You can see by the graph below that  prices began to rise in 2012 and continue to rise by almost 7 percent this year. Buyers and sellers are clearly more confident about increasing home... Continue Reading >

Investors Smothering Individual Home Buyers

Big investors are killing the market for individual home buyers whose dreams of building wealth through home ownership is dying.  My investors are thrilled.  But, my first-time home buyers can't compete for the same properties with the hedge funds, Wall Street investors and cash cows chewing up the little bit of grass that's available.  The ability of investors to make cash deals is enabling them to purchase as much as 70 percent of sales in some Florida markets.  Good article on the subject in The Washington Posts with Bloomberg. Continue Reading >

South Miami Homes for Sale

Debra Wellins The City of South Miami has only 29 single family homes for sale between $2,875,000 ($436/SF) and $130,000 ($167/SF).   The median home on the market right now is 4 bedroom, 2 bath, 2,225 square feet with an asking price of $639,000 ($264/SF). I have quite a few buyers right now that are looking in this neighborhood. Some are investors but most are first time buyers and families who love the tree lined streets, the charm of the homes and the proximity to restaurants and shopping around Red Road and Sunset Dr. Click here to... Continue Reading >

Luxury Real Estate – Everything You Should Know

Debra Wellins Christie's International Real Estate  published a superb compendium titled LUXURY DEFINED: AN INSIGHT INTO THE LUXURY RESIDENTIAL PROPERTY MARKET.  This is a must read for anyone in the luxury real estate business or interested in buying or selling luxury properties.  Christie's is the world's leading network of independent real estate companies dedicated to the sale and marketing of luxury residential real estate. In this well researched study, Christie's created an "Index" which synthesizes and compares key metrics on prices, inventory, buying trends, client profiles and lifestyles across... Continue Reading >

Distressed Sales Single Family Homes – Southeast Miami-Dade County – First Quarter

Debra Wellins I read an article today in Florida Realtors who reported that the greater Miami area posted the highest foreclosure activity of any large city in the U.S. for the first quarter, with one in every 79 residences receiving some type of foreclosure filing.  This prompted me to analyze the distressed sale activity of single family homes in the South East Miami-Dade corridor including Key Biscayne, Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay.  Distressed sales include foreclosures and short sales. Distressed sales, as a percentage... Continue Reading >

What’s for Sale in Palmetto Bay?

As of April 8, there are 37 homes for sale in The Village of Palmetto Bay that are not under contract.  Six homes are listed for over $1,000,000, 15 are listed between $500,000 to $999,000 and 16 are listed for under $500,000.   None of these are foreclosures and only three are short sales. With so little inventory on the market in this fantastic family neighborhood, now is an excellent time to sell. If you would like to schedule a seller or buyer meeting, feel free to... Continue Reading >

Comparison of Sale Price Per Square Foot in Pinecrest Quadrants

Debra Wellins Last year I reported that NE Pinecrest had the highest average single family home sale price per square foot than the other areas of Pinecrest.  The first quarter of this year continues the trend.  In looking at the median sales price of single family homes per square foot, NE Pinecrest comes in at $320.00, NW Pinecrest at $278, SE Pinecrest at $256.00 and SW Pinecrest at $212. Thirty four homes sold in total of which 15 were in the SW, 10 were in the SE, seven were in the NE and two... Continue Reading >

No Sales in Snapper Creek Lakes for Six Months

Debra Wellins Three months ago, I reported that sales in the Coral Gables community of Snapper Creek Lakes have stalled.   This is a very desirable gated community yet, it has been six months now since there has been a sale.  There are currently two properties under contract and eight homes for sale.  Also on the market since last October is an oak laden lot around three quarters of an acre listed for $1,899,999. The largest  home listed is a seven bedroom, 10 bath, 11,776 square foot house with an asking price of $9,900,000.  The smallest is a five bedroom, five bath, 5,019... Continue Reading >

Price Distribution of Pinecrest Homes for Sale

Debra Wellins     In Pinecrest, 91 homes over $1,000,000 are currently for sale.  Forty four homes are for sale between $500,000 and $1,000,000 and only four homes are under $500,000.  Most homes in this community are on large parcels of land, often 3/4 acre and up, adding significant value to these properties. Click here to see the complete market analysis of homes sold in Pinecrest in 2012. I am a Pinecrest specialist and would be pleased to meet with you for a buyer or seller consultation.  Feel free to... Continue Reading >

Average Price a of Home in The Village of Pinecrest

Debra Wellins Pinecrest Real Estate is More Expensive... I was just looking at the numbers for home sales from January to March 15th of this year and am astounded at how much the average price of a home has jumped in 2013.  The average sale price has increased from $746,636.00 to $1,229,740.00, a whopping $484,104.00 difference.   There have been 25 homes that have sold this year, the average being a 4.7 bedroom, 4 bath, 4,540 square foot house ($257/SF) which is slightly larger than the average house sold last year during this same period. If you... Continue Reading >