Pinecrest Maintains Value Despite Lower Inventory
As witnessed throughout all of Miami (and most of the country for that matter), the lack of housing inventory definitely had an effect on Pinecrest’s performance in Q4 of 2021. Pinecrest saw $135MM worth of real estate sold in Q4, illustrating a 48% decrease from Q3 sales.
Lower Inventory Drives Down Sales
When compared to the same time period a year ago (Q4 of 2020), sales volume fell slightly less at 34%. The same downward trend is seen with the number of homes sold in Q4, down 46% vs. Q3 2021 and 43% vs. Q4 2020.
Values Remain High
Although sales volume and number of transactions have decreased, mainly due to a lack of homes hitting the market for sale, Pinecrest saw a continued upward trend in pricing, with consistently higher average price/sq. ft. This shows that Pinecrest’s value remains strong and healthy, a great investment, and a fantastic place to call home. The Village of Pinecrest’s large spacious houses, oversized lots as compared to South Miami and Coral Gables to the North, and countless parks and recreation deliver an envied family lifestyle.
Waterfront Pinecrest Home Sells for Highest in Q4
Selling at $7,300,000, this property sits on the coveted tip of Gables by the Sea gated community on Lugo Avenue. With 5 bedrooms, 4.5 baths, and over 11,000 sq. ft. to play in, this palatial home has breath-taking views of Biscayne Bay and luxury finished throughout.
Communicate with the Pinecrest Expert
Contact Denise Horvilleur Luxury Real Estate with Coldwell Banker Global Luxury, Pinecrest Office, directly to get a complimentary, no strings attached valuation of your home to see what your sale price could be! As a Pinecrest resident for over 30 years and 14 years in the real estate market, Denise has the insights and expertise to guide you through the home selling process with ease.
