pinecrest update march 2010

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PINECREST UPDATE MARCH 2010 What's Happening in your area? Jason Pappas Realtor Associate Phone: (305) 494- 4542 JasonPappas@Keyes .com

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PineCrest Update March 2010. What's Happening in your area?. Jason Pappas Realtor Associate Phone: (305) 494-4542 [email protected]. NO MORE WINTER!. - PowerPoint PPT Presentation

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Page 1: PineCrest  Update March 2010

PINECREST UPDATEMARCH 2010

What's Happening in your area?

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 2: PineCrest  Update March 2010

NO MORE WINTER!

Jason PappasRealtor AssociatePhone: (305) [email protected]

This winter has been hard on everyone. From January to March we had the 9th coldest winter ever recorded for Miami and it seemed like it would never end. With several beautiful days of sunshine behind us and countless others to come as spring and summer begins, it appears we are back to our normal South Florida weather.

What’s even better news is the increase in activity in the real estate market. February emulated the weather we were experiencing with only 5 closed sales. March on the other hand decided to make up the difference by closing 3 times as many for a total of 15 closings at an average price of $1,464,467.

Page 3: PineCrest  Update March 2010

2006-2009 Pinecrest

Year

Average Selling Price

Selling Price Per

SQFT

Average Number

of days on Market

# of Properties

Closed

2006 $1,344,659 $339 82 184

2007 $1,454,808 $311 125 150

2008 $1,116,094 $260 156 136

2009 $982,605 $224 153 179

2010 $1,156,486 $236 209 35

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 4: PineCrest  Update March 2010

Closed Properties in Pinecrest

2006 2007 2008 2009 2010 (Projected)125135145155165175185195205215225

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 5: PineCrest  Update March 2010

2006 2007 2008 2009 2010 $600,000 $700,000 $800,000 $900,000

$1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000

Average Selling Price In Pinecrest

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 6: PineCrest  Update March 2010

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 7: PineCrest  Update March 2010

By the Numbers:Pinecrest Closed From

December 2009 – March 2010Closed Price All NW NE SW SE

Number Closed 47 14 9 18 6Average Selling $1,032,926 $1,039,072 $1,770,444 $747,028 $770,000

High Price $3,275,000 $3,200,000 $3,275,000 $2,350,000 $1,125,000 Low Price $240,000 $450,000 $645,000 $240,000 $555,000

Total Volume $48,547,500 $14,547,000 $15,934,000 $13,446,500 $4,620,000 Avg Price per sqft $223 $226 $279 $196 $206

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 8: PineCrest  Update March 2010

Where Are People Buying In Pinecrest

NW, 3

NE, 3 SE, 2

SW, 7

March Closed Sales

NW NE SE SW Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 9: PineCrest  Update March 2010

Closed Properties in NW Pinecrest (March)

ADDRESS SSL REO LA SF SP$Closing

Date #GAR BEDS FB HB POOL SP$/SqFt

7225 SW 104 ST N N

9,119

50,965 $3,200,000 3/12/2010 3 7 8 1Y $351

10601 SW 73 CT Y N

2,470

15,840 $457,000 3/29/2010 0 3 3 0Y $185

7080 SW 107 TE N N

2,723

16,860 $560,000 3/29/2010 2 4 2 0Y $206

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 10: PineCrest  Update March 2010

Closed Properties in NE Pinecrest (March)

ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL SP$/SqFt

5825 SW 93 ST N N 8,225

39,204 $3,250,000 3/12/2010 3 7 5 2Y $395

9330 SW 59 PL N N 9,035

41,041 $2,500,000 3/24/2010 3 6 7 1Y $277

9881 W SUBURBAN DR N N

8,521

40,075 $3,275,000 3/26/2010 4 8 8 1Y $384

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 11: PineCrest  Update March 2010

Closed Properties in SW Pinecrest (March)

ADDRESS SSL REO LA SF SP$Closing

Date #GAR #BEDS #FB #HB POOL SP$/SqFt

12591 SW 82 AV N N 2,215

15,511 $390,000 3/2/2010 2 4 2 0N $176

13101 SW 80 AV N N 3,185

21,148 $675,000 3/2/2010 2 4 3 0Y $212

11400 SW 67 AV Y N 9,175

45,302 $2,350,000 3/5/2010 3 6 7 1Y $256

11825 SW 80 RD N N 2,150

41,774 $425,000 3/12/2010 1 2 1 0Y $198

7479 SW 124 ST N N 7,149

41,817 $1,965,000 3/15/2010 3 6 5 1Y $275

8031 SW 122 ST N N 3,562

40,075 $735,000 3/24/2010 2 4 3 0Y $206

12895 SW 75 AV N N 3,016

17,032 $565,000 3/31/2010 2 4 2 0Y $187

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 12: PineCrest  Update March 2010

Closed Properties in SEPinecrest (March)

ADDRESS SSL REO LA SF SP$ Sold #GAR #BEDS #FB #HB POOL SP$/SqFt

12301 SW 64 AV N N 3,117

47,480 $770,000 3/12/10 0 4 3 0Y $247

6465 S MITCHELL MANOR CR N N

3,732

37,897 $850,000 3/31/10 2 5 4 0N $228

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 13: PineCrest  Update March 2010

Why are Prices so low?

2005 2006 2007 2008 2009 -

10,000 20,000 30,000 40,000 50,000 60,000 70,000

7,829 9,814

26,391

56,656 64,001

Number of Foreclosure filings in Miami-Dade County

*Information from Miamidade.gov

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 14: PineCrest  Update March 2010

Foreclosures and Short Sales Closed December 2009 –

March 2010

29

36

Pinecrest

ForeclosuresShort SalesNormal

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 15: PineCrest  Update March 2010

Active Foreclosures and Short Sales

16 1

188

Pinecrest

Short SalesForeclosuresNormal

Jason PappasRealtor AssociatePhone: (305) [email protected]

Page 16: PineCrest  Update March 2010

Jason PappasRealtor AssociatePhone: (305) [email protected]

Miamidade.gov http://sef.mlxchange.com

References