The value of brand new homes in High Pines
The Trend of Brand New Luxury High Pines Homes – A Neighborhood in Transition
High Pines seems to be the new ground for multi-million Dollar homes. Since I live and work in the hidden gem of High Pines, I have noticed this trend first hand. There are currently 11 homes for sale in High Pines, of which 7 are brand new homes.
We saw this trend already in Pinecrest and now High Pines seems to be the next neighborhood with brand new homes, rising prices and a generally better appeal. Buyers as well as developers are now buying up land to build the home of their dreams or to build a brand new High Pines home to flip it right away.
Whatever the reason might be, brand new homes in Miami are a hot asset. Not just because these new and modern homes offer the latest in technology and construction, but more because it allows the buyer to decide on the finishes and smaller details.
We provide you with some examples and number below.
Where do we see value in High Pines homes?
- Brand new or updated homes are selling for a higher than average price
- Older homes, tear down properties or smaller homes on a well-sized lot are selling for their land value often at a higher than average price as developers are buying houses in this area to built $2.5 Milllion+ homes. Eg they know they will get that investment back.
The home features on the right-hand side sold for land value in October 2013 for $595,000. Today a 7,048 Sq.Ft home is being constructed and listed for $2,995,000.
Example of homes that sold for land value
The below homes sold for land value between $650,000 and $825,000
Example of newly build homes that sold in the High Pines neighborhood
The below home sold for $300K in 2013. In 2015, the brand new constructed 5,477 Sq.Ft home sold for 2,525,000
Example of renovated or well maintained homes that sold for a higher than average price
This home sold for $520,000 in 2012 and after a complete renovation this home sold for $1,499,000 in 2015
David@siddonsgroup.com | +1 305.508.0899
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