Is it time to sell my Pinecrest House?

How do you know it is time to sell your Pinecrest House?

With so many market reports telling consumers that the Miami real estate market has peaked and that the market is seeing a moderation of prices many home owners might ask themselves: “Has it peaked, and how do I know if its time to sell”?

Whether a market has peaked certainly depends on the market’s conditions, but its not just market factors that matter here. It also depends on the type of Pinecrest house you own, and the ‘price’ sector that the home sits in.

Here is how you can tell if its time to sell your home in Coconut Grove.

There are a few indicators that will tell you whether the market and your Pinecrest house have reached it maximum. If this is the case you might consider selling.

  • Inventory is rising or and likely to continue to rise above 12 months
  • If the number of sales within your sector has dropped in the last 2 quarters.
  • If the price per SF you want or think you can achieve is at the highest point in your sector

As always we provide the above for different price ranges to better differentiate the different market sectors.

Months of Inventory in Pinecrest

sell my Pinecrest House?

The months of inventory of Pincrest houses below $2M is showing low numbers of 15 months or less. The $500K – $1M market is experiencing a neutral to a seller’s market (a sellers market is a market in which inventory is below 6 months and thus shows a higher demand than supply) while the $1M- $2M market is experiencing a light buyer’s market (a buyers market is a market in which inventory is above 9 months and thus shows a higher supply than demand).

The $2M+ market is showing higher numbers for months of inventory which is quite common is the luxury segment. The months of inventory increased significantly in the first quarter of 2016 and then decreased again in the second quarter. The second quarter of 2016 is now showing 17 months of inventory which is actually a healthy sign for a luxury market.

The Number of Sales in Pinecrest

sell my Pinecrest House?

While the last quarter of 2015 and the first of 2016 remained steady regarding the amount of Pinecrest houses sold, the second quarter of 2016 is showing a significant increase.

Highest Achievable Price per SF

sell my Pinecrest House?

This is an estimation of our market experience and data analysis. There are always properties that might get more than the indicated maximum price. Please contact the David Siddons Group for more information +1.305.508.0899

Badly finished or dated property: a property that would sell for land value or a property that hasn’t been updated for at least 10 years or more. The property might not be in good state or does not comply with what modern day buyers are looking for. Think also of dated kitchens and bathrooms or old roofs.The new owner would have to remodel the house or do severe work to make it compete with other properties in the area.

Well finished property: A property that is move-in ready with up to date floors, roof, bathrooms and kitchen. Unless the new owner likes another style there wouldn’t be a reason to update right away. The property is well maintained.

A very well finished property: A just remodeled or rebuilt property that offers the latest in luxury finishes. A property that has been finished with great detail.

David Siddons’ Conclusions
Has your Pinecrest home reached its maximum price?

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$500 – $1M Market is showing  low months of inventory (well balanced market) and an increasing amount of sales. As many investors are still looking for older homes to update and remodel the older or more affordable home might be very attractive for investors or builders. With Pinecrest becoming more and more exclusive there is no rush to sell your property right now unless you want to profit from the favorable sellers market.

The $1M – $2M Market is showing a well balanced to a light buyers market with an increase in sales. With Pinecrest still being more affordable than Coral Gables or the Grove, many buyers are looking at Pinecrest to find that large home on a large lot in an excellent school district. If your house is approaching the $350 per SF you might want to sell now during the high of the market. If your house is priced below that, there is no rush to sell in the upcoming months.

The $2M + market shows increasing sales and a considerably lower amount of months of inventory (17) than the last three quarters. There are a lot of brand new Pinecrest homes for sale which are multi-million dollar properties with a listing price per SF that reaches far beyond the prices of the original Pinecrest homes. If your house is approaching the $400 – $450 per SF you might want to consider selling as the inventory of brand new homes is still increasing. The more dated or original multi-dollar mansions often don’t sell as fast as the brand new homes, therefore competitive pricing is a must in this market

Do you think your house might be at its peak and you think you can still get top dollar for it? Are you not sure what these market data mean for you and what your house might be worth? 

Contact me today for a personalized chat. 

I do a lot of deals in Pinecrest and I love talking Miami Real Estate. Ill be giving you an honest and transparent opinion on why you should hold your Pinecrest house or sell it

David Siddons | david@siddonsgroup.com | +1.305.508.0899

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David Siddons
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Akbota YerseitAkbota Yerseit
13:29 03 Jun 22
Excellent leaders!
Cathryne HaladnerCathryne Haladner
12:12 18 Sep 21
We have only superlatives to describe how wonderful Cris Buzolin was throughout the process of selling our townhouse in Coral Gables. We were away in the UK while the transaction was taking place and Cris handled everything-from clearing out our house, selling contents when she could, arranging the moving and storage and dealing with some very difficult problems which arose. Always patient and very willing to help in every way, Cris is a consummate professional who really cares about her clients and worked extremely hard to get the price we had asked for and make things for us as easy as she could. Nothing was too much for her to handle.Cris and Marianela (who provided additional very helpful assistance to us during the transaction) are part of the team that David Siddons has assembled.When we decided to sell our property, we contacted David and he established the framework for the transaction and ensured that everything proceeded smoothly and in accordance with our wishes. In sum, David Siddons and his team are extremely competent and professional and we are totally satisfied with the service they provided. To repeat, Cris Buzolin in particular, went way beyond what one would expect from a real estate agent. The David Siddons Group has our highest recommendation!
Jose Eduardo FilhoJose Eduardo Filho
17:17 13 Jul 21
I thank the whole team and especially Cris Buzolin who, in a very professional and competent way, helped me to sell my property safely and in the best market condition.
Idan Singh (Idan)Idan Singh (Idan)
19:53 07 Jun 21
Great Service for British Expats looking to move to the States.
Simone GarrettSimone Garrett
17:20 26 Feb 21
Fantastic group of people to work with!! David and Adriana were responsive and professional throughout the entire process. We weren't familiar with South Florida so David took us under his wing and did a fabulous job giving us a tour of select neighborhoods in South Florida and shared a great deal of information about each. We fell in love with the Botaniko community in Weston and closed the deal with Adriana. If you are buying/selling this is the team you want to work with!! Thank you guys for helping us find our dream home.
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