According to the National Association of Realtors, 2016 shows the housing market beginning to stabilize. On a national level, the real estate market experienced one of its best years in nearly a decade. Existing home sales for 2015 saw an increase of 6.5% from the previous year. The national median price for home sales in 2015 was close to $221,200 – up 6% over 2014.
We are happy to report the Emerald Coast real estate market trends steadily increasing in sales volume and pricing as well. 2015 median prices on sold homes increased across the panhandle in Northwest Florida with an average of $472,259 – well above the national average. Homes are selling at an average of 96% of list price, which shows how important it is to have an experienced real estate professional price your home wisely to get you top dollar in the quickest amount of time.
Please review the statistics we’ve pulled from the Emerald Coast Association of Realtors for specific areas along the coast in our region. Starting on Okaloosa Island to the West through Panama City Beach to the East, our local market is positively increasing strong!
In 2015, Gulf front condos & townhomes on Okaloosa Island in Fort Walton Beach showed a 17.3% increase in median price, a 5% increase in average sold price and properties are selling for $16 more per square foot compared to 2014. Over the past two years, properties are selling consistently at 95% of list price. Click here to read more about Okaloosa Island.
Okaloosa Island Gulf Front Condos & Townhomes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
150 |
$266,000 |
$304,178 |
$257 |
217 |
95% |
|
2015 |
133 |
$312,000 |
$319,404 |
$273 |
242 |
95% |
2015 sales of Gulf front condos and townhomes in Destin decreased slightly in volume compared to 2014, yet the median sold price increased by $5,000 and price per square foot increased 3.8%, $12 more a foot. Single family home (no s) sales in Destin increased across the board in 2015 with both the median and average sold price up by 14%. The price per square foot increased by $11 over the prior year as well. The sold volume was nearly $220 Million! Click here to read more about Destin.
Destin Gulf Front Condos & Townhomes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
199 |
$355,000 |
$461,012 |
$320 |
159 |
93% |
|
2015 |
410 |
$391,000 |
$536,204 |
$196 |
140 |
96% |
Destin Single Family Homes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
383 |
$343,000 |
$470,619 |
$185 |
121 |
96% |
|
2015 |
408 |
$391,000 |
$536,798 |
$196 |
139 |
96% |
For single family homes in Miramar Beach, the number of closed sales improved by 8.2%, with the median sold price increasing 4.6%. Homes were selling over $11,000 more on average than 2014 and at 96% of list price. Click here to read more about Miramar Beach.
Miramar Beach Gulf Front Condos & Townhomes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
117 |
$485,500 |
$658,936 |
$390 |
271 |
94% |
|
2015 |
125 |
$520,000 |
$613,886 |
$394 |
176 |
95% |
Miramar Beach Single Family Homes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
279 |
$435,000 |
$598,449 |
$239 |
123 |
95% |
|
2015 |
302 |
$455,500 |
$609,941 |
$237 |
133 |
96% |
Real estate all along 30A experienced an increase in sales in 2015. Gulf front condos and townhomes saw a 12% increase in the number of closed sales over 2014. The average price sold had a tremendous increase of 25.5% with condos & townhomes selling for $508 per square foot – an increase of 13.9%. Single family homes along 30A shared similar increases of 14.3% in closed sales, increased median prices of $30k and average prices up over $80k in 2015 versus 2014. On average, properties sold for $28 more per square foot in 2015. Click here to read more about 30A.
30A Gulf Front Condos & Townhomes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
92 |
$770,000 |
$797,839 |
$446 |
214 |
93% |
|
2015 |
103 |
$888,000 |
$1,001,681 |
$508 |
165 |
95% |
30A Single Family Homes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
777 |
$640,000 |
$945,777 |
$355 |
155 |
96% |
|
2015 |
888 |
$670,000 |
$1,026,549 |
$383 |
159 |
96% |
Sales for single family homes in North Santa Rosa Beach remained stable in 2015 with home prices increasing 5.1% over 2014. For the past two years, homes are selling at 98% of list price, which is higher than any other area of our coastline! Click here to read more about North Santa Rosa Beach.
NSRB Single Family Homes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
297 |
$239,900 |
$260,186 |
$128 |
93 |
98% |
|
2015 |
293 |
$245,000 |
$273,497 |
$135 |
104 |
98% |
Panama City Beach Gulf front condo and townhome sales volume increased by 12.1% in 2015, with the median price of sales at an increase of $10k over 2014. Click here to read more about Panama City Beach.
PCB Gulf Front Condos & Townhomes Sold
|
Year |
Qty |
Median $ |
Average $ |
$ Sq Ft |
Days on Mkt |
Sales/List |
|
2014 |
729 |
$235,000 |
$252,350 |
$217 |
133 |
95% |
|
2015 |
816 |
$245,000 |
$252,430 |
$218 |
136 |
95% |
Now is a great time to purchase or sell real estate in our area. We have access to all properties for sale and systems that provide instant updates the day a property hits the market.
If you considering selling, contact The Nathan Abbott Team for a free market analysis. We are your trusted real estate advisors long Northwest Florida’s Gulf Coast and would be honored to serve you. Click here to view our current available listings or call us at 850-583-5678.
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