Pinecrest Single Family Home Sales – 2023 Annual Report

The Village of Pinecrest single-family home sales in 2023 were relatively stable when compared to the previous year. In 2022 we experienced the combination of thrilling price increases in a seller’s market but low inventory and challenging times for buyers.

Last year, total sales were down 10%, but the average sale price was stable and the average sale price per square foot increased 6%.  Let’s take a look at the numbers.

What Numbers Went Up?

• Average Sale Price per Square Foot (PPSF) was up from $708 in 2022 to $756 in 2023 – a 6% increase.
• Median Sale Price per Square Foot increased 11%, from $658 to $737/SF.
• Days on Market increased last year. In 2022, it took an average of 48 days to sell a home. Last year, houses sat on the market an average of 71 days, or 23% longer. This is a reflection of an increase in inventory last year over 2022. With more homes on the market, buyers have more options.

What Numbers Went Down?

• Number of Homes Sold was down 10% from 213 homes sold in 2022 to 191 homes in 2023.
• Average Sale Price went from $2,980,127 to $2,946,516, a change of a mere 1%.
• Median Sale Price was 2% lower in 2023 at $2,299,000.

Sale Price Breakdown

These are the number of homes sold in millions.

• <$1          5 homes
• $1-2       70 homes
• $2-3       54 homes
• $3-4       23 homes
• >$4        39 homes

Breaking Pinecrest Down by Quadrants

The chart below has all the stats for Pinecrest home sales, including a breakdown of sales by area.  North and South Pinecrest is divided by SW 112 St.  East and West Pinecrest is divided by SW 67 Ave. (Ludlam Rd)  See the map below.

The most impressive numbers came out of the NE sector where the average sale price was $4,849,534 – 39% higher than the average of all sales in the Village of Pinecrest. Wait…there’s more! The average sale PPSF in the NE sector was $915.  The year before it was $678 – so a 26% increase.

New construction continues to drive ultra-luxury home sales. The SW quadrant had the top seller in sale price at $11,328,000 and highest sale PPSF at $2,212.

Village of Pinecrest 2022 Annual Real Estate Report

Village of Pinecrest Home Sales the Last 5 Years

I’m a long-time resident in the Village of Pinecrest.  If you’re thinking of buyer or selling in my neighborhood, I’d be delighted to share my knowledge and expertise with you.   Let’s have a chat.  305.898.1852