PINECREST & PALMETTO BAY REAL ESTATE SELLING QUICKLY
With local and out of area buyers looking for more indoor and outdoor space, demand for Pinecrest and Palmetto Bay continues to increase. If you have been thinking about selling, now is a unique opportunity with homes selling extremely quickly at great prices.
In Palmetto Bay, 47 homes went under contract in just the last 30 days, which is a lot of activity. Over 80% of those homes were on the market for 90 days or less, 53% were on the market for 30 days or less, 32% were on the market for 14 days or less, and 23% were on the market for 7 days or less. Over 70% of homes under contract in the last 30 days were on the market for 60 days or less – that’s fast!
37 homes closed in Palmetto Bay in the last 30 days, up 16% compared to the same period last year. Median prices were also up 8% year-over-year. With less than 2 months of inventory currently available, sales and prices are likely to continue to be very strong in the months ahead.
Pinecrest also saw a flurry of buyer activity with 34 homes placed under contract in just the last 30 days. Nearly 60% of those homes were on the market for 90 days or less, 27% were on the market for 30 days or less, 18% were on the market for 14 days or less, and 9% were on the market for 7 days or less. Nearly half of all contracts were in 60 days or less, which is very fast for Pinecrest.
30 homes closed in Pinecrest in the last 30 days, up 43% compared to the same period last year. Average prices were also up 9% year-over-year. With less than 5 months of inventory currently available, sales and prices are likely to continue to be very strong in the months ahead.
If you have been thinking about selling your Pinecrest or Palmetto Bay home, now is the time to move quickly while demand is strong, inventory is low, and homes are selling very quickly. Call your Realtor® today and ask them how you can take advantage of this amazing market.
BRIAN SHAPIRO is Senior Vice President of the Jo-Ann Forster Team at Compass and lives in Pinecrest with his wife and three children. To discuss the market and your particular situation, call him at 305.978.8655 or email Brian@JoannForsterTeam.com.