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Today we want to share the latest stats about our market and our prediction of where we’re heading. All of these numbers are compared against where we were this time last year.

Destin:

  • Average condo price: rose from $620,000 to $679,000
  • Number of condos sold: increased from 112 to 188
  • Average home price: increased from $750,000 to $1,100,000
  • Number of homes sold: went from 204 to 339
  • Average price per square foot: went from $263 to $349

This area has seen an increase in demand because of its amazing beachside properties and lifestyle.

30A West:

  • Average condo price: increased from $1,050,000 to $1,775,000
  • The number of units sold went from 15 to 27
  • Average price per square foot: went from $561 to $712
  • Average home price: increased from $984,000 to $1,343,000
  • Number of homes sold: went from 178 to 297
  • Average price per square foot: rose from $394 to $486

The price increases in this area have been huge, but it desperately needs more inventory. 

30A East:

  • Average condo price: rose from $1,016,000 to $1,365,000
  • Number of condos sold: 34 to 60
  • Average price per square foot: went from $697 to $850
  • Average home price: increased from $1,543,000 to $2,000,000
  • Number of homes sold: rose from 392 to 689
  • Average price per square foot: went from $524 to $670

There’s been incredible growth and absorption of properties in 30A East. This area is definitely leading the pack.

Miramar Beach:

  • Average condo price: went up some from $753,000 to $789,000
  • Number of condos sold: 44 to 128
  • Average price per square foot: went from $487 to $532
  • Average home price: rose from $851,000 to $1,189,000
  • Number of homes sold: went from 175 to 295
  • Average price per square foot: increased from $292 to $394

North Santa Rosa Beach:

  • Average price: rose from $445,000 to $579,000
  • Average price per square foot: went from $189 to $246

Panama City Beach:

  • Average price: jumped from $343,000 to $400,000
  • Number of units sold: an amazing increase of 390 to 749
  • Average price per square foot: rose about 50$

All around, these are amazing stats in every area. It may settle out; it may not. The panic buying has ended, but we are still in dire need of inventory. A lot of people have finally realized that we have some of the best beaches in the world and want to move here. Our market is probably going to be forever changed because these new buyers aren’t speculative, they want a place to live.

If you have questions about these stats or anything else related to real estate, feel free to give us a call. We’d be honored to serve you.