Neighborhood Economics for Pinecrest Real Estate – Quarter 1 and 2 – 2015
The Pinecrest Real Estate Market in a Nutshell
Get a quick overview of the Pinecrest Real Estate Market in the first half year of 2015
The ‘neighborhood economics‘ blogs are excellent to gather a pulse on the Pinecrest Real Estate Market as we provide the market’s key indicators. This blog focuses on the last half year of Pinecrest Real Estate Data and is updated every quarter. All Data are derived from the MLS South Florida
Data are given for Pinecrest Homes in the price ranges of:
- $500,000 – $1M
- $1M – $2M
- $2M +
Summary of the Pinecrest Real Estate Market– Q2 2015
$500,000 – $1M
Pinecrest homes in this price range saw a considerable increase in the amount of sales therewith decreasing the inventory to 3 months in June 2015. An inventory of 3 months indicates a strong sellers market. Prices however remained stable over the first half year of 2015.
$1M – $2M
The inventory rose to more than 10 months, mainly due to the increased number of listings in Q2 of 2015. Although Q1 was still a neutral market, Q2 indicated a buyers market albeit not a strong buyers market.
Inventory in the Pinecrest luxury market made some heavy jumps. The amount of listings increased considerably in Q2 of 2015 while June record amount of luxury home sales helped to lower the inventory. Prices increased considerably in the second quarter of this year to levels of $400 per Sq.Ft or more.
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⇓ All the data in a nutshell ⇓
For Sale vs Sold Properties in Pinecrest
An overview of how many properties were listed for sale as well as how many properties were sold per month in each price range.
The Months of Inventory of Pinecrest Homes
The months of inventory is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.
Rules of Thumb
Buyer’s market: more than 9 months of inventory based on closed sales
Seller’s market: less than 6 months of inventory based on closed sales
Neutral market: 6 – 9 months of inventory based on closed sales
The Sales Prices for Pinecrest Homes
Read our Quarterly Neighborhood analytics for:
♦ Bal Harbour
♦ Coconut Grove
♦ Coral Gables
♦ Downtown / Midtown Miami
♦ Fisher Island
♦ Key Biscayne Condos / Key Biscayne Homes
♦ Miami Beach Condos / Miami Beach Homes
♦ South Beach Condos / South Beach Homes
♦ South Miami
♦ Sunny Isles
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No generalized opinions but an analytic approach