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    Pinecrest - Neighborhood details, listings & statistics
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    Neighborhood Location

    Neighborhood Description

    Pinecrest is located just south of Coral Gables, West of South Red Road / Old Cutler Road and East of the Pinecrest Parkway. The Pinecrest real estate market is dominated by single – family homes mostly located on larger lots. In Pinecrest most lots vary between 20,000 Sq.Ft and an acre, sometimes even larger.

    Pinecrest is known to be one of Miami’s most desired neighborhoods.  Pinecrest is very much in demand with buyers as it is home to many of Miami’s best (highly rated) public schools. As many young families like to provide their kids with the best education possible, Pinecrest is a desired location for real estate because in order to quality for Pinecrest’s excellent schools district, you need to live in the area. Furthermore, the village is very much in demand with families as the area is safe and offers many parks.

    High Average Price Per SF
    Median Price Per SF
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    Neighborhood News

    Renting Versus Owning Real Estate in Miami - What is the Breaking Point?
    When does owning in Miami become a better deal than renting?
    Renting Versus Owning Real Estate in Miami - What is the Breaking Point? Many new Miami residents ask us whether it is better to buy or to rent in Miami. As a general rule of thumb most people would argue that buying is always better than renting. You are building up capital and you don't pay someone else's mortgage. We decided…

    Average $/SqFt

    • Available Sales$434/SqF
    • Available Rentals$1.97/SqFt
    • Closed Sales (In the past 6 months)$310/SqFt
    • Closed Rentals (In the past 6 months)$1.48/SqFt

    Inventory Percentages

    • Available Sales79.6%
    • Available Rentals20.4%
    • Months of Inventory sales46.0
    • Months of Inventory rentals22.7

    The Pinecrest Real Estate Market

    Although Pinecrest has always been a sought-after neighborhood because of the school district, the village got a lot of investors’ attention in the last few years. With rising values and low inventories in neighborhoods like Coral Gables or Coconut Grove, investors and buyers started looking South where properties were still affordable and their dollar stretched further.

    Looking at Pinecrest homes for sale we can clearly see a split in two categories*

    • First, we have the more dated homes (built in 1960’s-1970’s) which often need some level of upgrading or remodeling. These are often priced below the $1,000,000 mark
    • Second, we have the brand new, recently finished homes that are priced largely over the $1M range

    * Pinecrest homes come in all shapes, prices and types but in general we see a big tendency towards the above groups

    Pinecrest is seeing a recent trend of investors buying empty lots or the more dated or even teardown properties. They transform these older properties into brand new mansions or they build a luxury home from the ground up.

    Since empty lots in Pinecrest are scarce, the search for homes to remodel is more desired by investors these days. As Pinecrest is known for its larger lots, most of these newer homes being built are luxurious mansions, which are often substantial in size.

    Needless to say this new trend is leading to a transformation of the Pinecrest real estate market into a more luxury-oriented real estate market.

    The increasing demand for Pinecrest homes and the construction of new multi-million dollar mansions has increased Pinecrest home values considerably. Nonetheless, Pinecrest is still more affordable than areas such as Coral Gables or Coconut Grove.

    Townhomes in Pinecrest

    Townhomes are not common in Pinecrest but the recent demand for townhomes in the Miami market has led developers to introduce the Luxury villas at Pinecrest: The Villas at Pinecrest is a collection of 18 luxurious and contemporary coastal styled villas. The 18 unique residences feature 3 stories, 4 bedrooms, 3 bathrooms, a 2-car garage as well as fine finishes and high quality bathrooms and kitchens. These brand new residences are located in a gated community in Pinecrest.

    The Schools in Pinecrest

    An important factor in the desirability of Pinecrest Homes for sale is the presence of many “A” Rated public schools in the area.  Parents like to provide their kids with the best education possible, while avoiding the pricier private schools in Miami. When looking to buy or to rent in Miami, Pinecrest is often a place of preference for families who want to live in this area to qualify for Pinecrest’s excellent school district.

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    the 2016 miami real estate report

    ex-stockbrocker’s analysis of the miami market

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