Buying Luxury Real Estate Pinecrest Selling

$20 Million In Sales In One Week From EWM Coral Gables Office

Even though this close to the start  of the school year sales should be slowing down, nothing could be further from reality.  Our EWM office had over $20 million worth of sales this week, which represents a total of 31 sales.   5 of the sales went for the asking price and 3 went above asking.

The graph below is for single family homes in Pinecrest, a neighborhood known for its luxury homes on large lots community parks and great schools.  Second quarter inventory in Pinecrest is down 12% from the same time last year, and based on both closed and pended sales for the quarter, there is only a 4.7 month supply of inventory.  Although it is only a snapshot of one Miami community, it is indicative of what many communities are going through:  tight inventories, increasing sales, and frustrated buyers.