What is happening in the Pinecrest Real Estate Market?
The 1st Quarter of 2025 for the real estate market is in the books and Today we are looking at single family homes in Pinecrest which is a very sought after and one of the most exclusive neighborhoods in all of Miami. Since the beginning of this year we started to do our market updates focusing on each neighborhood as a single video to allow you to really hone in on the neighborhood of your choice.
Whether you currently live there and want to see how the market is doing or are considering buying there we want to be able to put the information in your hands in a quick and easy way. We are also looking at a lot more data to be able to give you more details and information on how the market is doing. We are going to give you a breakdown of all the sales data including Active Listings for sale, and we are also going to dive a bit deeper and see what price range most of the Activity is taking place in, and we will then wrap things up with our market summary.
We have a lot to cover so lets jump right in... So Pinecrest is a landlocked neighborhood which is why we do not have waterfront homes as we do in other neighborhoods. Lets go across the board... Actives increased by a lot while Closed Sales and Months of Supply stayed about the same while Days on Market also decreased and Median Price decreased. With the exception of the large increase in Active listings, the market is seems to be doing good in Pinecrest. First off... Active Listings, jumped from an average of about 105 to 140 which is a large increase.
Total Closed Sales is 35 for the Quarter. Months of Supply = 11. They say a normal market or balanced market is 6-9 Months, 11 months of supply which is a bit high however given the higher prices this is normal, so we will have to see how this works itself out. Now, we always start by quickly looking at the graph to see if we can quickly spot any one price range that has a large # of Actives and Closed Sales... Actually the Active Listings are spread pretty evenly from $1 Million up to $10 Million, 43, 36 and 43 however we definitely see much more Closed Sales in the $1-$3 Million price range and strong sales in the $3-$5 mIllion as well with 29 Closed Sales out of 35 at under $5 Million.
Even though Pinecrest is an exclusive area known for its larger lots and larger homes, we really do not see many closed sales above the $10 Million dollar mark and none above $20 Million. For Buyers looking for homes in Pinecrest inventory has increased by a lot across all price ranges which is great for you. Please note that the market moves rather fast here as Days on Market is really low at 50 days so in less than 2 months which is great considering that the median price sold is above $2 Million and we see the market is very active especially under $5 million while there are 0 homes under $1 Million.
If you are a Seller in this market you do have the advantage that activity is steady especially below $5 Million, however we will note that there is a lot of new inventory for sale that has come online this month so make sure to really do your homework to price your home correctly. In markets like this we suggest to price your home at market or even a bit below just to attract the most attention possible when coming on the market especially with all the economic headwinds in the world right now you don't want to sit on the market especially if you need to sell.
In summary we can see that right now the market for single family homes in Pinecrest is doing well and seems steady especially under $5 Million. Only one area of concern is we just saw a very large increase in inventory so lets see how the market takes that as this is coming at a really bad time, as we are now dealing with a very volatile and unstable stock market and interest rates due to the trade wars regarding tariffs which we feel we will negatively impact the real estate market in our April sales #'s and in the coming months as well.
We are going to have to keep a really close eye on this as these are all very serious headwinds the real estate market in general is facing right now and in the coming months, and maybe even for the rest of the year so stay tuned. Well, that's our 1st Quarter 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 ever have any questions feel free to reach out.
Thank you for watching and we will see you soon.