Pinecrest, FL has been an ever-growing community since the early 1900’s. We have seen it go from a dominantly touristy area with the openings of The Parrot Jungle and The Miami Serpentarium to now a fully established village with shopping centers, malls, local restaurants, and over 14,000 households and a population of about 20,000 people. Today, Pinecrest is boasting with breathtaking real estate ranging from all types of tastes and styles. From the rustic country-style home to a large Keys [Florida Keys]-style mansion, Pinecrest has it all! It’s local stores, Farmer’s Markets, parks, and recreation attractions are what keep current residents from leaving and outsiders wanting to join the community!
But what does the Real Estate Market have in store for the future of Pinecrest? Well, comparing the market from 2015 to now, we have seen a rise in property value with an average of $250,000 more for larger homes of about 8 bedrooms, and an average of $100,000 more for the typical 4-bedroom home. However, average Days on Market have gone down by almost half! Therefore, if prices are rising and the average D.O.M continue to decrease, this proves high demand for inventory and a flourishing Seller’s Market for the village of Pinecrest!
Now, we know the residential market is at its best right now but what of the commercial market? As a matter of fact, a retail BOOM is among us when just this past May (2016), the Suniland Shopping Center on US-1 and 113th was sold to a real estate investment trust based in Denver for a whopping $66.5 million! The nearly 47,000 Sq. Ft. property currently includes a CVS Pharmacy, various well-known restaurants, a Whole Foods Market, and [Fun Fact] is walking distance from our office! Its modern exterior makes it the beautiful centerpiece of daily shopping in Pinecrest. [And grabbing lunch for us here at YES is only a few steps away!]
What’s more, the community remains strong with A-graded public elementary schools, and a dedicated council who have just begun putting their efforts together to avoid the spreading of mosquitos infected with the Zika virus. Our hard working Police Officers are constantly patrolling to ensure the safety of our community, and taking your kids to the park is just a 5-10 minute drive (just choose the closest of 7 parks to you!). We have never seen such a strong and well-nourished community, and with Pinecrest in their 20th year as an official Village of Miami-Dade County, I don’t foresee anything short of greatness and continued growth. Buyers want to live here, and because of that, Seller’s should give in to the demand.