Village of Pinecrest 2022 Annual Real Estate Report

There were some huge swings in the Village of Pinecrest single family home sales for 2022. Let’s jump right into the stats.

What Numbers Went Up?

• Average Price per Square Foot (ppsf) was way up from $496 in 2021 to $708 in 2022 to – a whopping 43% increase .
• Average Sales Price increased from $2,184,000 in 2021 to $2,980,000 last year – an increase of 36%.
• Median Price per Square Foot jumped from to $461 to $658 – a 47% increase.
• Median Price of homes increased from $1,600,000 to $2,350,000 – another giant leap of 47% from 2021 to 2022.

What Numbers Went Down?

• Number of Homes Sold was down 46%, from 397 single-family homes sold in 2021 to 213 homes sold in 2022. Inventory was super low.
• Days on Market  Homes took an average of 64 days to sell in 2021 but only 48 days in 2022.  Homes move faster when inventory is low.
• Homes Sold Under $1 Million  In 2021, 15% of Pinecrest homes sold were under $1 million.  In 2022 only 6% of homes sold were under $1 million.

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.

What really stands out is the NW sector, where new construction elevated the average and median sale price and price per SF in a big way.  Developers were gobbling up acre lots, tearing down the oldies and building gorgeous new homes that were selling for $10 million. Historically, the NE quadrant of Pinecrest commands the highest prices and price per square foot.  But not last year.  Check out my blog from 2021 for a deep dive into the past five years.

Pinecrest 2021 Annual Real Estate Report – A Five Year Look Back

I’m a long-term Pinecrest resident and luxury real estate specialist in the Village.  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