Miami real estate news and information

What’s Selling in Pinecrest ?

Five homes sold in Pinecrest over the past 3 months in the price range of $700,000 to $900,000. One sale stands out: In gated Arabesque, 11020 SW 77 Court Circle sold within three weeks for $850,000. Four bedrooms, three and a half baths, 3878 square feet of living space and a 15,084 square foot lot, it was listed for $879,800. High ceilings, turn key, appealing to the eye, in a private gated community, and offering Pinecrest’s sought-after public and private schools, it sold in the blink of an eye.

Of the other four closed recorded sales in the past three months in Pinecrest (each selling between $700,000 and $900,000) one was on the market for a year-and-a-half before it sold. On 3/4 of an acre (a 38,768 square foot lot) 6175 SW 133 Street sold for $800,000 (dramatically reduced from it’s original asking price of $1,250,000 a year and a half back).

It’s still very much a buyers’ market. Among the lowest priced listings in Pinecrest, and originally priced at $750,000 – 8395 SW 136 Street – is currently the lowest priced bank-owned property in Pinecrest, listed at $379,000. Four bedrooms. Two baths. From there, the list prices in Pinecrest soar upward, ranging all the way up to $6,999,000.

With some 250 homes currently listed for sale in the Village of Pinecrest, the majority are luxury properties… priced to sell at $750,000 and above…. and there are some good opportunities for those ready to buy. Certainly, this is a time where negotiation skills are key. But more importantly, recognizing a good deal when you see one, and not hesitating when you do, is key. It’s not always a matter of negotiating down a price, but often one of recognizing when you’ve found something you like, that is “priced right”… and jumping on it.

For any questions about Pinecrest, whether you are buying or considering moving, please call us. Vicki Restivo (305) 793-1365 or Alexandra Restivo (305) 632-0164.

Your comments are of course welcome below, as well. www.MiamiRealEstateCafe.com

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