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October is upon us and we near the time of year when everyone starts thinking about the holidays. Residential real estate agents know this part of the annual cycle well. A week before Thanksgiving to a week after New Year’s Day is always the slow period. The question is how amplified or muted this tried-and-true cycle will be for us this year.
In my last column, I recommended that potential home sellers be bold and decisive. Since 2020, we have flown “too high, too fast” and we are feeling the effects of the other side of that huge pendulum swing. There is no single reason for where we are now in the market.
The only way to say it is we are in stormy conditions and we don’t know if it breaks or gets worse from here.
I have my personal thoughts and convictions, but until the forces at play reveal their next moves, we are all just waiting. Therefore, to both buyers and sellers, my advice is to act now. Deal with the conditions you know, not the volatile unknown future. And, when you look back in a year or two, you will be happy you did.
The national headlines speak about interest rates, insurance costs and other (mostly) numeric factors as the reason for our national real estate market conditions. While this might tangentially have correlation to us, I focus on the local and hyper-local markets. By living in the heads of local buyers and sellers in real-time, I can read the tea leaves about three months ahead of the mainstream media stories.
To begin, South Florida is a unique market. It cannot be defined without addressing the different pricing tiers. Pinecrest is a particular standout. With most single-family homes in Pinecrest on large lots and priced well above $1.5M, most people understand the homes here are just as much assets as they are abodes. This is a monumental distinction in mentality and it drives our market in ways unlike the rest of Miami-Dade County.
With Pinecrest homes being considered assets, many homeowners and homebuyers transact not out of a necessity to live here, but rather because it is a smart financial decision. Also, when a purchase is made in Pinecrest, it often does not involve a required appraisal, or even a loan. These two factors put Pinecrest in a different class of real estate that require special analysis when determining value.
Outside of Pinecrest, homes are evaluated by more traditional standards. Ultimately, the appraisal plays the primary role and final hurdle to a successful deal. Here, many appraisers that I know are starting to become much more cautious in their value determinations. As appraisals start to come down, I fear we could have a snowball effect on homes priced below $1.5M.
As always, I am available to discuss your particular needs, whether buying or selling. My most important advice remains constant. Be bold in this market and act now.
Idyllic Palmetto Bay Family Homes
16225 SW 88th Avenue Road, Palmetto Bay, FL 33157 (MLS # A11823985). Now offered at $1,100,000.
Wonderful family home on quiet street where all the neighbors know each other! 2,336 sq ft with 4 bedrooms, 2 baths on large 18,750 sq ft lot. This well-cared for and loved home features a field stone accent wall & impeccable wood floors, making it feel oh so homey! Beautiful view to pool from front door. LED recessed lights in the living room and kitchen.
Entertain and feed your inner chef! Kitchen with real wood cabinets, granite counters, stainless steel appliances, and a pass-thru window to the covered and screened pool/patio area. New pool fence and fans. Extra-large, lush yard with fruit trees and fenced for dogs to run. Manicured lawn and layout make this the perfect yard for entertaining, play and relaxation. 2015 AC, 2010 roof, flat roof 2023. 2010 HWH. Wash/Dryer 2022. 2 car garage, alarm, and hurricane shutters (some electric) make this a great place to call home. Gorgeous glass closet doors. This home is Special!
8230 SW 150 Drive, Palmetto Bay, FL 33158 – 3909-sf 6BR/4BA. Now offered at $1,300,000.
Larger than tax roll, this unique Mangowood home offers flexible living, ideal for in-laws or spacious home office suite. A 30-year-old addition features massive primary BR suite w/walk-in closet, storage room & large bath, plus a second bedroom & full laundry w/sink.
The original home includes 3 oversized bedrooms—one is ensuite— and a sunken living room. Enjoy peace of mind w/impact windows/doors, 2 new 4-ton A/C units, and 2 septic systems. Outdoors boasts a modern 32×16 pool (resurfaced 3 yrs ago), well-fed sprinklers, large shed & gated boat pad. Fully fenced for privacy. Mangowood is recognized as 1 of the best neighborhoods in all of Florida. The voluntary civic assoc. has well-attended events throughout the year for kids and adults. Close to Coral Reef Park & Elementary School.
Make it YOURS!
Real Estate Update
As of 9/24/25, there were 151 properties for sale in Pinecrest, 17 homes pending sale and 7.6 months of inventory. If you’re ready to move, contact me to get the best local expertise, truthful guidance and realistic expectations. It’s easy to get started at miamihal.com/getstarted. I invite you to view past episodes of my The MiamiHal Real Estate Show at miamihal.com/the-miamihal-real-estate-show to hear from experts and get the latest real estate news.
Hal Feldman (MiamiHal) is a Realtor with RE/MAX Advance Realty. You can contact him with your story ideas or real estate questions at www.MiamiHal.com, Hal@MiamiHal.com or www.facebook.com/MiamiHal
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