Neighborhood Economics for Pinecrest Real Estate – Quarter 1 – 2015

The Pinecrest Real Estate Market in a Nutshell

Get a quick overview of the Pinecrest Real Estate Market

See the quarter 2, 2015 update

The Pinecrest Real Estate Market in a Nutshell – Read our quarterly report here with all the key market data to be quickly updated on the Pinecrest Real Estate Market – This Pinecrest home on SW 106 ST sold for $4M in the first quarter 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 3 months 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– Q1 2015

$500,000 – $1M
Within this price range we saw a pretty stable Q1 without much change since Q4 of 2014. Inventory levels have slightly gone up, but the market is still a sellers market (6 months or less of inventory). Even though this market is favorable for sellers, prices have decreased (albeit minimally).

$1M – $2M
In the $1M – $2M range less properties were on the market while more properties where sold resulting in the market moving from a buyers market (9 months + of inventory) to a neutral market (6-9 months of inventory). Prices remained stable over Q4 2014 and Q1 2015 at an average of $305 per Sq.Ft

$2M +
The inventory levels in this market rose considerably due to more properties being for sale and less actual sales. While January and February showed extremely high numbers of inventory, March showed a number of 19.7. This is nothing to worry about so far, numbers tend to increase or decrease drastically in a relatively small market like Pinecrest. Q1 2015 saw an increase in sales prices per Sq.Ft compared to Q4 2014.

Follow us every quarter to look for trends!

For Sale vs Sold Properties in Pinecrest

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

Pinecrest Real Estate Market of $1M- $2M

click to enlarge

Pinecrest Real Estate Market of $2M+

The Months of Inventory of Pinecrest Homes

Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image

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

Pinecrest Real Estate Market of $1M- $2M

click to enlarge