It's incredible what we are seeing right now in the real estate market here at the beach - Inventory is evaporating: Let's take a look at the numbers:
Condos for sale in Ft. Walton / Destin / Sandestin dropped more than 10% in September compared to August.
Houses for sale in Destin / Sandestin were down - 10%.
30A homes for sale got even tighter dropping a whopping 20%.
30A Condos for sale held steady, but they were pretty lean to start with.
Panama City Beach condos for sale saw a 5% drop.
Panama City Beach homes for sale didn't fall as much as 30A but was down almost 15%.
As I said, it's amazing what is happening to the inventory - across the board.
What to do?
Our role is to help you maximize your position as a seller or a buyer based on the current market conditions and your goals for owning real estate at the beach. With this in mind, we recommend the following:
Short Time: if you are planning on owning only for a short time – perhaps selling this year or in the next couple of years – you should strongly consider protecting the equity you have built up and sell now while we know the market is hot.
Long Haul: If you are in it for the long haul – markets come and go so we recommend that you stay the course. Perhaps look at maximizing your rental income by updating or upgrading your property. Otherwise, settle in and enjoy your investment.
Buying: If you are considering buying a place – go for it. Interest rates are low, and it looks like demand is likely to stay high for a while so prices will likely continue to go up. Again, if you are planning on owning for longer than 5 -7 years you are sitting good and will likely be able to capture a very, good sales price in the future.
Always Know: Our goal (whether you are buying or selling) is to get you the best deal possible so call us today at 850-654-3325 and let's talk about how you can get a max deal here at the beach.