Modern Style Floor Plans are Taking Over From Large, Compartmentalized Plans
A Modern Style Floor Plan is Becoming Increasingly Desired with Miami Buyers
We are seeing an emerging trend towards less formal floor plans. Lifestyle choices have changed and buyers don’t value luxury homes the same way they did 15 years ago. Extreme large and compartmentalized homes are not desired anymore. Buyers are not looking for very formal and large homes that offer two different dining rooms, a home theatre and a formal living room. This is now seen as ‘wasted space’ and a burden to maintain. Although this trend can be seen all over Miami it is very noticeable in the Pinecrest area, where many modern homes are being built next to more dated, colossal homes.
What is the market looking for?
Buyers still appreciate a large lot, but when it comes to the interior SF; ‘function-over-form’ and ‘a natural flow’ are key. Every day usage and an easy lifestyle are proceeding over a luxury, opulent style. We expect the desire for streamlined, open style floor plans to increase in the years to come. This streamlined style is mostly seen in the newer, modern homes. They are still luxurious (actually, very luxurious), but they are created with daily use and functionality in mind.
Examples of Pinecrest Homes
The property on 6770 SW 104 is from 1957, but it has been completely remodeled with a more contemporary style. The house has a good SF of 4,440 and a desired lot size (Large, but less than an acre). Besides being on a very busy street the house is set back and has a lot of privacy at the pool area. The home offers an open floor plan, integrated kitchen and is very family oriented. This home sold in less than a month. 6650 SW 104th St was also sold in less than a month. The same range of interior SF, updated and a good usage of the space.
6770 SW 104th St, Pinecrest
5 bedrooms / 5.5 Bathrooms /4,440 SF / 37,897 SF lot
Days on Market: 22
Sales Price: $2,166,275 or $488 per SF
6650 SW 104th St, Pinecrest
5 bedrooms / 5.5 Bathrooms / 4,721 SF / 30,895 SF lot
Days on Market: 27
Sales Price: $2,1M or $445 per SF
The property on 6485 SW 106 St is a very formal-style home with almost double the living area as the before-mentioned properties. The house offers a library, gym, formal dining and a foyer amongst others. It took 8 months to sell this property for almost half the price per SF as the two properties above.
Another example is 10395 SW 67th, which has been for sale since January 2017. It has been reduced several times and has changed brokers. It was originally listed for almost $5 Million and is now on the market for just below $3M. The house has a massive living area of just over 10,000 SF with a formal dining room, game room, theater room, wet bar, tennis court and a den on a 65,906 SF lot. Maintenance of these kind of properties is not easy and involve a lot of money. Imagine having your landscape trimmed and your roof prepared in Miami during Hurricane season…
10395 SW 67th Ave, Pinecrest
7 bedrooms / 5 Bathrooms / 10,689 SF / 65,906 SF lot
Days on Market: 153 before it was relisted with another agent who now has it 39 days on the market
Asking Price: $2,999,000 or $281 per SF
6485 SW 106 St, Pinecrest
6 bedrooms / 5.5 Bathrooms / 8,039 SF / 39,204 SF lot
Days on Market: 230
Sales Price: $2M or $249 per SF