The Pinecrest luxury real estate market had $38,171,000 of total sales volume during the first quarter of this year. That total sales amount is not as high as the $44 million plus in sales volume for the first quarter of 2016, but it is $3 million more than the last quarter of 2016.
During the first three months of the year there was a total sales volume of $38,171,000 in the Pinecrest luxury real estate market. Last year, the total sales volume for the luxury market was $44,479,050. Over the past five years the first quarter total sale volume amounts have had a high of close to $60,000,000 and a low of close to $34,000,000.
This year the Pinecrest luxury real estate market had 22 sales. That is four sales less than the first quarter of 2016. In fact, the first three months of the year had the same amount of closed sales as 2015.
The average time properties spend on the market is an important indicator of how the overall market is performing. This data is used to calculate the months of supply, one of the most important market statistics used when evaluating a particular real estate market. [Click here for more on Months of Supply]. Pinecrest luxury real estate spent on average 209 days on the market during the first quarter. That is a 16% increase in time compared to the 180 average days on market in 2016.
The average sale price to list price ratio for Pinecrest luxury real estate during the first quarter was 93%. This means that homes sold for within 7% of the last asking price listed on the MLS. Compared to the original list price, the average sale price was 88%. The average sale price to original list price ratio was the same for the luxury market as it was for the Pinecrest market generally.
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