A Comprehensive analysis of Pinecrest Luxury Homes – Quarter 1, 2015
The Comprehensive Analysis of luxury homes in Pinecrest
What is the status of Pinecrest Luxury Homes in Q1 2015
♦ Averages prices ♦ Price changes ♦ Inventory levels
The comprehensive analysis outlines the Pinecrest luxury real estate market. This research focuses on the Pinecrest luxury homes and it includes only those truly luxury properties with a sales price of $2M or more.
Average sales prices per Sq.Ft for luxury homes in Pinecrest – Q1 2015
As can be seen from the graph above, the average sales price per Sq.Ft for Pinecrest Luxury properties has experienced a modest yet steady increase. It is interesting to see that the Pinecrest area is seeing a heavy increase in the number of multi-million dollar sales. As explained in one of my recent blogs, the Pinecrest market has seen a lot of pre-construction homes lately (people rebuilding or remodeling homes for investment purposes) which has increased the amount of homes that are sold for $2M or more. The average sales price for luxury homes in Pinecrest is between $2,5M and $3M.
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Months of inventory for luxury homes in Pinecrest
Looking at the inventory levels of luxury properties elsewhere in Miami, Pinecrest shows a lower level of inventory for luxury properties (see graph below in section “Comparing the Pinecrest Luxury Real Estate Market“).
The luxury property market always sees higher inventory levels than the more affordable properties therefore numbers here are higher than what you might normally see in our analytical reports. Pinecrest luxury properties however have shown lower months of inventory then the Miami average, in some months even approaching a buyers market (An inventory of 6 months or less)
Closed sales and Pending sales of Pinecrest Luxury Homes in Q1 2015
In the overview below you can see which Pinecrest luxury properties sold and which ones where under pending sales in Q1 2015
Comparing the Pinecrest Luxury Real Estate Market with Luxury Real Estate in other areas
Looking to invest in Pinecrest luxury real estate or would you like to sit down for a more personal approach? Contact me today