A client of mine just asked me:
How have home sales been in Pinecrest in the past few months? Adriana
So, I thought I would give everyone a market update. In the past 6 months we have been averaging 17 closed transactions/sold homes per month with an average sales price of $1,040,163 and 13 months of inventory. Six months of inventory indicates a stable market, less than that a Sellers Market, more than that a Buyers Market.
My last two Pinecrest, FL listings were on the market and average of 21 days; the market is moving. This tells me two things, first, there is money out there for qualified Buyers, neither one of these Buyers had any problem obtaining a mortgage. Second, there are still quite a few overpriced listings. The Buyers are out there, but the properties have to be priced correctly for today’s market.