Palmetto Bay, FL

Pinecrest, Coral Gables & Palmetto Bay 2010 Year End Market Data

We have excluded Foreclosures and Short Sales from all the data. These types of properties typically attract a different type of buyer than is the custom. We hope you find this information useful. For more information, charts of this data, to sign up for email updates and to search the MLS for homes for sale, visit us at www.WeSellMiami.com.

All data is general to the city mentioned. If you would like a more specific market data for your home, please feel free to contact us. It would be our pleasure to provide you with one.

Pinecrest Data:
Pinecrest has had a relatively good year. Year end sales are up although prices are down.

Inventory: 222 homes per month
Sales: Up 45% from 2009
Pending: Up 22% from 2009
Total Sold: 172 with 65 properties on acres
Months of Inventory: 14 in December 2010
Price per square foot: $257 down from $265 in 2009
Average Price Sold: $1,480,000 on acre and $730,000 on non-acre
Highest Sale: $3,665,000 at 5940 SW 108 St

Coral Gables Data:
Coral Gables hasn’t fared as well as Pinecrest or Palmetto Bay. The average price in Coral Gables is higher, therefore attracting less buyers in general. Prices and sales were down in Coral Gables for 2010.

Non-waterfront Homes:

Inventory: 575-600 homes per month
Sales: Down 27% from 2009
Pending: Down 53% from 2009
Total Sold: 222
Months of Inventory: 17 in December 2010
Price per square foot: $260 down from $270 in 2009
Average Price Sold: $711,000
Highest Sale: $3,650,000 at 280 Las Brisas Ct

Waterfront Homes:

Inventory: 80 homes on market per month
Sales: Up 100% but only One sale in Dec 2009 and Two in 2010
Pending: Unchanged
Total Sold: 25
Months of Inventory: 37.5 months in December 2010
Price per square foot: $598
Average Price Sold: $3,800,000
Highest Sale: $12,900,000 at 8585 Old Cutler Road

Palmetto Bay:
Palmetto Bay is doing quite well. Sales are up a whopping 31% and there is only a 6 month supply of homes on the market. This supply is down 53% from November! If that continues for a period of 3-6 months, we could be seeing a balanced market or even a rising market in Palmetto Bay for 2010.

Inventory: 135 homes per month
Sales: Up 31% from 2009
Pending: Down 9% from 2009
Total Sold: 132
Months of Inventory: Only 6 months in December 2010 (Lowest in entire area!)
Price per square foot: $155 down slightly from $158 in 2009
Average Price Sold: $451,000
Highest Sale: $1,662,000 at 14001 Cartee Road

Palmetto Bay is one of Miami-Dade County's most in-demand communities. Located in the SW part of Miami-Dade, it is fully incorporated and offers homeowners large lots, great schools, and a wealth of activities. From beautiful bayside strolls at the Deering Estate, to fun in its numerous parks. Palmetto Bay's boundaries are SW 136 Street (Howard Dr) to the North, abutting the Village of Pinecrest, US1 to the West, Biscayne Bay to East and SW 184 Street (Eureka Dr) to the South.

17741 SW 77 Avenue, Palmetto Bay, Florida

Description: Fantastic Palmetto Bay Opportunity!! On the quiet side of 77th Avenue resides this peaceful 4 bedroom, pool home with den. 2.1 Bathrooms, Open Kitchen, French Doors, Hurricane Shutters, 2-car garage, utility room, large lot with assorted fruit trees. Not a Short Sale or Foreclosure, and Seller can close quickly.

4 Bedrooms / 2.1 Bathrooms

3070 Sq. Ft

Large Lot, 2-Car Garage

Click Here to see a Great Slideshow of the Property!

Click Here For mapped Location

It's really important for all Palmetto Bay Residents to get out and vote for the mayor of their choice on Tuesday Nov. 16th. It's predicted that only 5% of voter's will actually go out and vote in a run-off! This is a dismal view of our society.

With that in mind, there is a Voter's Forum scheduled on Wednesday Nov. 10th, 2010 from 7:00 to 8:30. This is the 2nd forum sponsored by the Palmetto Bay Watch group.

Forum located at:

The Palm Room (Third Floor)
Palmetto Bay Village Center
18001 Old Cutler Road
Palmetto Bay, Florida 33158

If you need more information, contact Michael Kesti, (305)323-2903 / KestiM@aol.com

Thank you to Beth Kibler, the President of the Old Cutler South Neighborhood Association for getting this word out. And thank you to the Palmetto Bay Village Center for donating the space for this forum.

Fall in Palmetto Bay

Fall has arrived in Palmetto Bay, Florida. I know this sounds ridiculous to anyone living above Jacksonville, Florida, but here in South Florida, the humidity has fallen below 50% and it feels downright cool here.

There is dew on the grass in the morning, and it is cooler sipping coffee on my patio than in my now stuffy feeling kitchen.

My husband and I finished preparing our organic vegetable garden beds this weekend, and so I really know that winter is on the way. For those of you from up North, we garden in the WINTER! Yes, while you are freezing and your gardens are frozen or under snow, our season is going into high gear, and our Farmer's Markets open, our fresh local produce starts to grow and all us Miamians, remember why we moved here. For the weather!

As you can see by the photos, we have raised bed gardens. Our natural soil is very rocky so we get the most out of gardening in Palmetto Bay by using raised beds. This year I started gardening the "Square Foot Garden"method, designed by Mel Bartholomew.

You lay out your garden in squares instead of the typical rows. You divide it up into smaller 1 square foot grids and plant a different vegetable, herb or flower in each square foot. You will plant either 1, 4, 9 or 16 plants per square foot. It should finish looking kind of like a patchwork quilt! When you finish harvesting one square foot, you just add compost and plant a new plant, giving you sometimes up to 3 harvests per square foot.

It's so simple I don't know why anyone would plant a garden any other way. Eventually, the garden will grow in and I'll continue to bring you photos of it.

Palmetto Bay Mayor Flinn was sued yesterday for not resigning his post as mayor before entering the race for County Commissioner.

The suit was filed yesterday by attorney Stephen Cody, a 30 year veteran of election law. According to Cody, one cannot be in office while running for a different office when one may end up serving both positions at the same time.

The lawsuit comes just days before the election. Palmetto Bay residents are left wondering why this is happening now. There will be an emergency hearing this afternoon to determine if his candidacy will be disqualified. Read more details here.