Summer Weather At The Beach
Our area has been very fortunate with regard to named storms over that last few years. Did you know that the last named storm to impact our area was Tropical Storm Claudette that hit August 19, 2009 – six years ago? The last Hurricane to hit our area was Dennis and it hit July 10, 2005 – 10 years ago. Nobody knows what this summer holds but statistics show that the area is 2 years overdue for another hurricane.
Click here to see more about Destin Weather History
What this means to you?
Probably nothing but … make sure your insurance policies are up to date, you may want to talk you’re your HOA about what happens when a storm hits, and if you are thinking about waiting to sell a property in the Fall you might consider selling now. September is, statistically speaking, the most likely month for our area to get hit with a hurricane. The bottom line is – if you own property at the beach weather is always something to keep in the back of your mind and be prepared for. If we can help you in any way please let us know and we will be happy to do so.
Summer Real Estate Trends
The Emerald Coast real estate market remains very active. We are reporting healthy sales activity for homes, condos and land.
New Home Sales are among the most active. Builders are pricing homes correctly and offering upgrades and incentives, which are attracting a lot of buyers. We are seeing a lot of calls for buyers about new home construction.
Existing Home Sales are also very strong. We are seeing both primary residences and investment properties getting a lot of showings and we are selling many of our homes at higher prices than in recent years.
Condo Sales – There are a few new construction opportunities in Destin and Panama Ctiy Beach which is exciting. Overall the condo inventory right now shows that there are still a lot of them for sale (1,400 +/-) and roughly the same number of new listings come on the market each month as those that sell which means supply is equals demand right now and that is keeping prices flat. I can tell you though that there is a shortage of “Good” condos for sale and have a lot of buyers looking for “Good” condos and are willing to pay a premium for them.
Land Sales – Sales have been steady. Remember last year when builders were scrambling to buy up land for new construction and driving prices up? Well this summer we have the same situation but to a much lesser degree. Spec Builders are still buying land and putting up homes and we are seeing a lot more end user buyers in the market right now.
Where is the Market Heading?
Like the weather nobody can predict what will happen with the real estate market at the beach. Looking at the trends:
- Inventory is still plentiful
- Banks are lending
- Interest rates are still low
- There are a good number of buyers in the market
I believe you can expect a healthy real estate market for the near future which means if you are a buyer willing to pay a fair price you will get your deal. If you are a seller willing to accept a fair price you will get your sale. If you are wondering about what “fair prices” are feel free to call me, John Moran, at 850-654-3325 or email me at JohnMoran@AtTheBeachTeam.com and we will be happy to run the numbers for you.