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  • Real Estate Market activity Pinecrest vs Palmetto Bay

    06/05/2017

    Home Owners Expenses

     

     

    We are just reaching the mid-year market activity and trends are taking shapes in this transitional real estate market. Here are some interesting facts about the real estate market activity for Single Family Homes between Pinecrest and Palmetto bay:

    PINECREST:

    Active listings: 205 properties for sale

    • 50 homes above $3M (including 30 new homes built since 2016)
    • 46 homes between $2M and $2.999M
    • 72 homes between $1M and $1.999M
    • 38 homes under $1M

    Closed sales (last 6 months): 87 properties sold

    • 4 homes above $3M
    • 11 homes between $2M and $2.999M
    • 31 homes between $1M and $1.999M
    • 43 homes under $1M

    Pending sales: 20 properties under contract

    • 2 homes above $3M
    • 2 homes between $2M and $2.999M
    • 6 homes between $1M and $1.999M
    • 10 homes under $1M

    PALMETTO BAY

    Active listings: 173 properties for sale

    • 3 above $3M
    • 2 between $2M and $2.999M
    • 15 between $1M and $1.999M
    • 153 under $1M

    Closed sales (last 6 months):148 properties sold

    • 1 above $2M
    • 5 between $1M and $1.999M
    • 142 under $1M

    Pending sales: 54 properties under contract

    • 1 between $1m and $1.999M
    • 53 under $1M

     

    As the Pinecrest real estate market continues to attract many buyers under the $2M price point it is important to notice that inventory above the $3M range is building up and starts to put pressure on the resale prices. That is also due to the large amount of new construction that have been delivered during the last few months.

    On the other hand Palmetto Bay is very steady market and inventory is moving extremely fast as long as homes are correctly priced. The main activity is under $1M and shows no pressure at the present time.

    Written by Nicolas Boucher.
    The Pinecrest agent with over 15 years of local real estate experience, specializing in Pinecrest Real Estate. My main objective is providing valuable information to benefit you for the best outcome when selling or buying your home. For a free comparative market report of your home, you can contact me directly at 305-788-8035.

     

    • With over 20 years of real estate brokerage experience in Miami and internationally, Nicolas Boucher is currently a member of the Chairman’s club, ranked top 1% of associates at EWM.
      Clients know that everything will be taken care of when working with Nicolas Boucher. In addition to having an outstanding reputation for marketing distinguished properties, extensive training and a broad knowledge of the local market, Nicolas is the critical resource for marketing luxury properties.

      Nicolas's relationship with EWM Realty International, a Christie's Real Estate and Berkshire Hathaway Affilliate, expands available offerings through powerful local and global resources. Nicolas's success is in part due to a keen ability to coordinate the details of today’s sophisticated transactions and direct a strong team in all areas - from financing and one-stop-shopping, to the latest online marketing tools. Nicolas Boucher has an established record and is known for discretion and privacy when representing valued clients.

      Languages Spoken: English, French & Spanish

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