The 90-Day Pinecrest Luxury Real Estate Report Q3 2021 | Pinecrest Homes for Sale

Our First 90-Day Pinecrest Luxury Real Estate Report Q3 2021 | $1M+ Homes

Some of the Most Significant Pinecrest Home Sales

6220 SW 92nd St sold in July for $8,890,000 or $997 per SF after being on the market for just 9 days

5851 SW 94th St traded for $4,315,000 (asking $4.3M) or $958 per SF just one week after listing it. The highest sales price per SF paid for a Pinecrest home in this price range in Q3 2021. This home is gated, private and beautifully finished with a very desired and open floor plan on a 52,000 SF lot.

7362 SW 104th St sold for its asking price at $3,750,000 0r $885 per SF just 8 days after listing it for sale. This was the second highest trade in Q3 of 2021 for the $3M-$5M range. This brand new construction home offers an abundance of light and is finished to perfection with special features like a walk-in glass wine cellar and built-in bar. 

11905 SW 66th Ave was bought by one of our buyers in May of 2021 for $2,275,000. They decided to sell again in September of 2021 as they were being relocated back to their country of origin. They sold the property 4 months later for $2,650,000, which represents a 16.5% profit

How much longer will the Pinecrest market be sustainable?

This market has always been a strong, stable market. This is a market driven by a necessity and a market where people live all year round. Pinecrest is home to (and surrounded by) excellent private schools, which keeps the demand for Pinecrest homes high. Demand has always been high, but since 2020 the supply/demand curve is experiencing extremes, which benefits the sellers.  Do we expect this market to drop? No, you might expect it to level, but we doubt it will drop. Demand is up, supply is extremely limited.  This is to say that the market won’t go down in many cases, but outlier properties that suddenly sell at 50% more than they sold 2 years ago (so called “Make-me-move” offers) will become less likely. With other words, we will see less anomalies in property prices as exceptions to the rule will cease to exist. These anomalies are caused by hysteria and this will stabilize soon.  If you want to know more about how sustainable this market is we invite you to read the below two articles, which dive further into this topic and discuss what could potentially change supply or demand in this market.