The Emerald Coast real estate market was booming in the month of July!
We thought June was a busy month, but July showed us more incredible increases compared to the same time last year. Summer is a fabulous time to peruse the market and find your ideal property. There's something for everybody and we're here to help you find the right property for you. If you feel it would be a better move to list and sell your property – we're here to help with that too.
Let's dig into some of the numbers! As we stated before, we saw great increases – especially so in the 30A area. 30A East saw an increase in condo sales by 425%, with 30A West not far behind with an increase of 400%. The Miramar Beach/Sandestin area saw an increase of 147%, and Destin came up with an increase of 58%. North Santa Rosa Beach saw a 33% decrease and Okaloosa Island saw a decrease of 17% in condo sales as well.
If you're thinking the reason we saw such an increase in sales is due to price decreases – think again! Take a look at the percentages of increase/decrease in median condo sale price by area (more details are in the infographic below):
Destin: +21%
Miramar Beach/Sandestin: +14%
Okaloosa Island: -80%
Days on the market were also down across the board with an average of 48% less time spent on the market for condos.
Wondering about the home market? We've got the numbers on that too!
30A East saw an increase in home sales by 165%, with 30A West showing an increase of 119%. The Miramar Beach/Sandestin area saw an increase of 109%, Destin came out with an increase of 13%, and North Santa Rosa Beach showed an increase of 104% in home sales.
Here are the percentages of increase/decrease in median home sale prices by area:
Destin: +25%
Miramar Beach/Sandestin: +11%
Okaloosa Island: N/A
Days on the market were also down for homes showing the same average as condos with 48% less time spent on the market.
More and more people are realizing the increasing value of owning along the Emerald Coast! If you'd like more detailed information on a particular area or community feel free to reach out to us. We love sharing valuable info!
Here's the sum-up of July condo and home sales here along the Emerald Coast:
$2,500,000
4 Bed | 4 Bath
3,150 Square Feet
The highest-priced home sold within the areas of Okaloosa Island, Destin, Sandestin, Miramar Beach, North Santa Rosa Beach, and 30A was:
158 Geoff Wilder Lane
$6,500,000
6 Bed | 5.5 Bath
4,032 Square Feet
We're keeping a close eye on the market activity this year and we're continuing to stay prepared through the busy summer and closely approaching fall season. We love staying in touch to keep our clients prepared and on top of the emerald coast real estate market, especially with the ever-changing world situation. This is a great time to perform some due diligence regarding purchasing property. Keeping on top of the market will ensure that you don't miss any deals. We are getting a new influx of inventory daily and there are some great opportunities to take advantage of. The daily hot sheet has new listings hitting the market every day, so contact us to sign up for updates and let us keep you informed! If you feel unsure about your current real estate holdings, we're here to help guide you to make the best decision for you.
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