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.
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.
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.
*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.
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