May single family home sales in The Village of Pinecrest were strong under $1 million, but down by 32% over last May. The price point of the buyers last month is the stand out stat. Nine of the 13 sales were under $1 million: 3 sales were in the $600,000’s, 3 in the $700,000’s, 2 in the $800,000’s and 1 sale for $911,000.
Take a look at the chart and you’ll notice that the median sales price of homes was $850,000, off 44% from the previous year. Luxury sales clearly took a hit in May.
If you recall from my April Market Report, Pinecrest home sales seemed to glide through the nationwide frozen tundra. While not necessarily impressive, April 2020 sales were comparable to April sales a year ago. Covid 19 did not appear to adversley affect real estate in the Village.
But May sales painted a different picture, more of a still life than a moving landscape, certainly not the robust summer sales experienced under normal circumstances.
This stagnation will not last though. As of mid June, Pinecrest has 181 active listings and 44 pending sales, so the Village is on the rebound.
Your home should be listed with an experienced Realtor to get the best possible sales price. Please give me a call for a professional valuation if you are considering selling your property. 305-898-1852. We can meet in person with masks and proper distancing or virtually through facetime or zoom. Homes are selling and virtual tours are the new normal.