What is happening in the Pinecrest Real Estate Market?
The 2nd Quarter of 2025 is in the books and today we are looking at single family homes in Pinecrest one of the most exclusive neighborhoods in all of Miami. The first graph covers the 2nd Quarter month by month... We see Active Listings increased by a lot but it is nothing to get alarmed by as we dove deeper into the numbers to see what was going on as we saw this in all the areas we cover.
What we found is that this is one of those market phenomena's as a lot of Listings when taken are set to Expire come the end of 1st Quarter, so around March 31st you get a large # of Listings that Expire, and then over the coming weeks and months those Listings come back on the market which is why we see this ramping up effect month by month. Closed Sales decreased by almost half while Months of Supply doubled which is not a good sign. Days on Market decreased and Pricing seems to be holding. So we are getting some mixed signal's here, let's take a look at our next graph to compare the 2nd Quarter to the 1st to see if we can spot any trends... This is why we like to show you different graphs and as much data as possible.
Even though Active Listings was increasing month over month the # of Actives is in line with the 1st Quarter. Closed Sales = went from 37 to 48. Months of Supply = down to 9 from 11. Days on Market, Price/Sqft and Median Price Sold all held steady. Overall these numbers look good and shows the real estate market in Pinecrest performed better in the 2nd Quarter. In this next graph we see where the market stands today as well as what price range most of the activity is taking place... Note... there are ZERO Homes under $1.0 Million, as a matter of fact if we go down the list we can see just by the #'s that Pinecrest is a very exclusive neighborhood as there are homes listed for sale in every price range from $1-Million up to $20-Million.
We will point out though that above the $10 Million mark there was only 1 Closed Sale for the entire Quarter and with 16 Listings in this range we can see a bit of a slowdown here, we will say that we have seen this across all the neighborhoods that we cover. Overall numbers look good. The Lowest Priced home sold was for $1.1 Million a small 3 bedroom home off of 132nd Street. The Highest Priced home sold for $10.7 Million, a New Construction 7 Bedroom sold for $1,190/sqft almost $1,200/sqft.
And now let's jump into our summary... We see a strong market for single family homes in Pinecrest as there is Activity in every price range up to $10 Million Dollars while Days on Market remains low at only 64 Days which given the High Median Price of $2.4 Million this is a very strong # and clear indication of the demand for homes here. From being in the markets daily we can tell you that all real estate above $10 Million is slowing down unless it is a waterfront home and new construction, and we can also say that historically Pinecrest sees very few homes sell at this range or above, however there seems to be more listings coming up in this price range so we have to see how the market in Pinecrest reacts to this.
For Buyers looking for homes in Pinecrest right now there are 48 homes under $3 Million which sounds like a lot but truly is not when you sort through them so be a bit patient and when you do find the right home make an offer right away as the market moves rather fast here as Days on Market is only 64 days which shows the strong demand for single family homes in this market. Focus on finding the right home for you, and try and negotiate the best price possible.
For Seller's in Pinecrest, while homes are selling and demand seems strong, there seems to be more inventory coming online every day and week, so be careful and make sure you price your home properly which we suggest pricing it a bit below the market just to attract the most attention possible when coming on the market especially if you need to sell.
Also understand interest rates remain high and Buyers are exhausted so they are very sensitive to price. We also want to point out that this market will reward you if your home is in turnkey condition however if it has not been updated in years the market will punish you and it will take a long time to sell unless you heavily discount the price. As we can see with the #'s Buyers the value and are paying a premium for New Construction which we feel will remain this way going forward. That's our 2nd Quarter for 2025 Market Update for single family homes in Pinecrest.
I am Jose Laya, and I was born and raised in Miami, and as I start my 19th year in the real estate market I can proudly say that our goal in making these videos is to provide you with value and help as many people as we can by sharing with you real market data to give you a better insight into the local market.
If you have any questions feel free to reach out.
Thank you for watching and we will see you soon.