Pricing North Pinecrest Luxury

I’ve recently been working with a buyer who is looking for homes in the high $3,000,000 to mid $5,000,000 range. She is moving to Miami from another part of the world, so we have been looking at different areas: Coconut Grove, Coral Gables, Ponce/Davis, and Pinecrest. These are all great options with lots of lovely homes, so we are narrowing it down to find this buyer’s perfect fit, but Pinecrest has definitely grabbed their attention. When looking at comps, this is what I found.

Over the course of the past 6 months, North Pinecrest homes that were listed between $3,000,000 and $4,000,000 have sold for a high of $478.20/square foot, an average of $410.65/square foot, and a low of $343.10/square foot. The low was a bit skewed because it was a house where roughly one third of the lot is under water (not “under water” like a buzzy real estate term, but actually under the water of a lake!).

Homes listed between $4,000,000 and $5,000,000 have closed for significantly higher prices per square foot as of late. Their high, average, and low come in at $543.71, $525.53, and $507.35 per square foot, respectively. This price discrepancy is due to the fact that nearly all of the $4,000,000-$5,000,000 homes are brand-new construction, while many of the homes in the slightly-lower price range are a bit older, though still magnificent.

There are some wonderful luxury properties available in Pinecrest right now, and now you know a bit more about their pricing. Check out my listing at 5800 SW 93 Street – listed at $3,495,000, or $428.88 per square foot, it is priced right where it should be!

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8665, or visit my website at: Luxury Miami Real Estate