Pinecrest Condos / Co-ops Market Report

Right now in Pinecrest, there are 14 homes for sale. Buyers have been closing about 4 homes a month over the last three months. At that pace, it would take about 3.8 months to sell everything currently listed. That is a seller's market. Homes are selling faster than new ones come on, so sellers usually have more power on price. The typical sold price is $245,000. Among homes that closed, the median sold price was 96.1% of the median list price of those same sales. 2% of those sales closed above their own list price and 84% sold below their own list price. Once a home goes under contract and closes, it has usually been on the market about 38 days. Sold prices over the last three months are down about 8% compared with the three months before that. New listings (4 in the last 30 days) are roughly keeping up with sales, so inventory is fairly steady. About 26.2% of today's active inventory is selling each month (the absorption rate). Asking prices average about $318 per square foot, while recent sales average about $357 per square foot.