There is a lot of things that go into owning, buying and selling real estate at the beach.  This blog is intended to help you in all aspects 

Sept. 21, 2020

September Real Estate Market Update

Florida has a very strong real estate market

 

Real Estate Update

We are looking at a recipe for a very strong market this fall for both sellers and buyers.  Here’s why:

Inventory is incredibly low.  If you have spent any time at all looking for a place to buy here at the beach you will see that there is very little to choose from and as long as the factors listed below are present, I expect the inventory to continue to be very tight.

Interest rates are incredibly low creating tremendous purchasing power. Frankly, it’s amazing how low the mortgage rates are, and the result of these rates is tremendous purchasing power for buyers.  In other words, buyers can afford to pay significantly more now than they could just a couple years ago and still have the same mortgage payment. 

For example: 

You bought 2 years ago: If you bought a property for S400,000 in 2018 when the average interest rate was 4.54%, and you put 20% down, your monthly mortgage would be $1,912.34    

Buy Today:  If you buy a $400,000 property today at a rate of 3.5% and put the same 20% down, your monthly mortgage would be $1,720.28  OR if you are comfortable with the $1,912 mortgage payment then (because of the low interest rates) you could afford to spend $453,500 and still have the same monthly payment.  That gives you an additional $53,500 of purchasing power!  Note: mortgage rates can and do change so be sure to consult a mortgage lender to confirm your rate.

Rental income is very strong. Because the cruise industry and foreign vacation travel is all but stopped for the foreseeable future the folk who would have booked those trips are now booking vacation rental properties at the beach.  And because the Emerald Coast has the nicest beaches in the United States, I expect the demand for rentals in our area to be very strong over the next 5 years.

Example how this is a huge benefit for investors: Say you invest in a property at $400,000 and your mortgage outlay is $22,971 a year.  The rental income is $40,000 per year less a 20% management fee of $8,000 leaving you $32,000. Subtract that $22,971 it costs you to own it and you have a $9,029 positive annual cash flow on top of the benefit of the renters paying down your principle and interest for the year. These low interest rates are a huge benefit for folks that can take advantage of them.   Note: There are some other miscellaneous costs associated with owning but they are often canceled out by tax benefits.  Be sure to talk to your financial planner or accountant before buying any investment property. 

Buyer demand is very strong.  In addition to the low inventory, the high rents, big purchasing power we are also seeing a lot of migration of folks coming from urban areas to the beach.  More people can work remotely now so when given the choice to stay where they are or move to the beach … they are moving to the beach.  Simple as that.

---- /// ---

 

Bottom Line

What this all means is Sellers are able to demand and capture very good sales prices.  It also means that Buyers can afford to jump up a level to perhaps buy a bigger place, closer to… with more…. and so on.  The added benefit is … at least for now … real estate prices in Florida are expected to continue to appreciate for the foreseeable future. And that is terrific news for both buyers and sellers.

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. 

Posted in Market Updates
Sept. 18, 2020

Panama City Beach | Lot Sales | August, 2020

 

The chart below shows the market activity for Panama City Beach Residential Lot Sales during the last calendar month.  If you would like more information on a specific building please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these new links:

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

25

$2,612,400

$103,000

$104,496

194

278

$2,307,900

$99,000

$92,316

88.34

84.58

List/Sold

7

$1,039,700

$155,000

$148,528

325

316

$892,500

$130,000

$127,500

85.84

84.85

Co-Broker

18

$1,572,700

$93,950

$87,372

143

264

$1,415,400

$85,750

$78,633

90.00

84.42

New

22

$3,243,690

$124,995

$147,440

26

24

 

 

 

 

 

Pending

21

$4,599,500

$119,000

$219,023

219

327

 

 

 

 

 

Withdrawn

2

$975,000

$487,500

$487,500

2,297

2,434

 

 

 

 

 

Cancelled

3

$329,000

$115,000

$109,666

94

94

 

 

 

 

 

Expired

5

$891,099

$114,900

$178,219

253

325

 

 

 

 

 

Back On Market

5

$1,744,900

$105,000

$348,980

207

281

 

 

 

 

 

Extended

10

$1,138,899

$108,000

$113,889

448

447

 

 

 

 

 

Active In Range

191

$36,679,969

$119,000

$192,041

296

316

 

 

 

 

 

Current Active

144

$27,524,729

$119,000

$191,143

365

384

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

 
Sept. 18, 2020

Panama City Beach | Home Sales | August, 2020

The chart below shows the market activity for Panama City Beach Home Sales during the last calendar month.  If you would like more information on a specific building please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these new links:

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

125

$54,138,670

$361,900

$433,109

68

73

$52,408,101

$353,000

$419,264

96.80

95.41

List/Sold

23

$11,140,175

$353,000

$484,355

44

47

$10,572,825

$353,000

$459,688

94.91

93.19

Co-Broker

102

$42,998,495

$363,450

$421,553

74

79

$41,835,276

$352,500

$410,149

97.29

95.99

New

137

$70,895,126

$350,000

$517,482

24

29

 

 

 

 

 

Pending

138

$73,371,686

$347,450

$531,678

74

73

 

 

 

 

 

Withdrawn

12

$4,367,521

$371,961

$363,960

64

64

 

 

 

 

 

Cancelled

26

$13,222,709

$380,000

$508,565

107

121

 

 

 

 

 

Expired

19

$7,489,365

$349,900

$394,177

350

360

 

 

 

 

 

Back On Market

45

$22,324,988

$398,500

$496,110

121

118

 

 

 

 

 

Extended

34

$23,067,400

$424,450

$678,452

161

159

 

 

 

 

 

Active In Range

453

$273,619,819

$375,000

$604,017

90

95

 

 

 

 

 

Current Active

196

$145,997,612

$429,000

$744,885

149

161

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

Sept. 18, 2020

Panama City Beach | Condo Sales | August, 2020

The chart below shows the market activity for Panama City Beach Condo Sales during the last calendar month.  If you would like more information on a specific building please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these new links:

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

199

$64,844,672

$291,750

$325,852

100

101

$62,893,638

$285,000

$316,048

96.99

95.80

List/Sold

44

$14,693,900

$309,950

$333,952

70

68

$14,329,138

$311,680

$325,662

97.52

95.75

Co-Broker

155

$50,150,772

$284,000

$323,553

109

111

$48,564,500

$275,000

$313,319

96.84

95.82

New

185

$61,805,653

$309,900

$334,084

20

22

 

 

 

 

 

Pending

202

$66,967,796

$310,000

$331,523

87

109

 

 

 

 

 

Withdrawn

17

$5,127,100

$225,000

$301,594

113

117

 

 

 

 

 

Cancelled

12

$3,858,600

$269,600

$321,550

257

260

 

 

 

 

 

Expired

28

$11,961,200

$377,500

$427,185

285

297

 

 

 

 

 

Back On Market

70

$21,417,273

$280,000

$305,961

188

171

 

 

 

 

 

Extended

147

$60,427,320

$390,000

$411,070

513

3,355

 

 

 

 

 

Active In Range

767

$278,526,700

$342,800

$363,137

172

699

 

 

 

 

 

Current Active

421

$160,633,007

$360,500

$381,551

271

1,200

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

 

Sept. 17, 2020

Navarre Beach | Condo Sales Statistics | August, 2020

The chart below shows the market activity for Destin Area Condo Sales during the last calendar month.  The Destin Area includes: Fort Walton Beach, Destin, Miramar Beach and Sandestin Resort.  If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these new links:

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

7

$3,284,700

$475,000

$469,242

53

53

$3,053,900

$470,000

$436,271

92.97

92.97

List/Sold

3

$1,519,800

$599,900

$506,600

112

112

$1,378,900

$490,000

$459,633

90.73

90.73

Co-Broker

4

$1,764,900

$395,000

$441,225

10

10

$1,675,000

$392,500

$418,750

94.91

94.91

New

3

$1,893,800

$634,900

$631,266

25

25

 

 

 

 

 

Pending

7

$3,816,800

$569,900

$545,257

92

92

 

 

 

 

 

Withdrawn

0

$0

$0

$0

0

0

 

 

 

 

 

Cancelled

2

$1,290,000

$645,000

$645,000

111

111

 

 

 

 

 

Expired

4

$2,409,500

$604,500

$602,375

737

737

 

 

 

 

 

Back On Market

4

$2,111,500

$604,500

$527,875

574

574

 

 

 

 

 

Extended

4

$2,590,000

$652,500

$647,500

241

251

 

 

 

 

 

Active In Range

30

$18,709,200

$637,450

$623,640

189

198

 

 

 

 

 

Current Active

17

$11,260,400

$650,000

$662,376

308

323

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

 

Sept. 17, 2020

Navarre Beach | Home Sales Statistics | August, 2020

The chart below shows the market activity for Navarre Beach Home Sales during the last calendar month.  If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website: Try out these new links.

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

3

$2,608,000

$659,000

$869,333

283

283

$2,380,000

$645,000

$793,333

91.26

91.26

List/Sold

0

$0

$0

$0

0

0

$0

$0

$0

0.00

0.00

Co-Broker

3

$2,608,000

$659,000

$869,333

283

283

$2,380,000

$645,000

$793,333

91.26

91.26

New

4

$3,088,100

$814,000

$772,025

25

25

 

 

 

 

 

Pending

6

$4,074,700

$699,000

$679,116

60

60

 

 

 

 

 

Withdrawn

0

$0

$0

$0

0

0

 

 

 

 

 

Cancelled

0

$0

$0

$0

0

0

 

 

 

 

 

Expired

1

$649,000

$649,000

$649,000

504

504

 

 

 

 

 

Back On Market

1

$649,000

$649,000

$649,000

449

449

 

 

 

 

 

Extended

0

$0

$0

$0

0

0

 

 

 

 

 

Active In Range

26

$27,591,100

$899,900

$1,061,196

224

240

 

 

 

 

 

Current Active

18

$21,907,500

$1,074,000

$1,217,083

295

317

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

Sept. 17, 2020

30A / So. Wal | Condo Sales Statistics | August, 2020

The chart below shows the market activity for 30A / South Walton County Area Condo Sales during the last calendar month.  The  Area includes: Blue Mt. Beach, Grayton Beach, Santa Rosa Beach, Seagrove Beach, Seacrest Beach, Rosemary Beach and Inlet Beach.If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these links.

We are very excited about launching it and are confident it will be a terrific tool for you.

MARKET SUMMARY 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

46

$35,561,428

$494,000

$773,074

118

204

$34,262,930

$488,500

$744,846

96.35

94.45

List/Sold

9

$12,363,000

$689,000

$1,373,666

167

216

$11,569,000

$655,000

$1,285,444

93.58

92.46

Co-Broker

37

$23,198,428

$465,000

$626,984

106

201

$22,693,930

$457,500

$613,349

97.83

95.50

New

42

$31,083,896

$559,500

$740,092

15

32

 

 

 

 

 

Pending

55

$40,393,995

$499,900

$734,436

114

136

 

 

 

 

 

Withdrawn

3

$4,255,499

$1,795,000

$1,418,499

238

427

 

 

 

 

 

Cancelled

4

$6,044,000

$1,147,000

$1,511,000

550

550

 

 

 

 

 

Expired

4

$3,339,999

$782,499

$834,999

307

307

 

 

 

 

 

Back On Market

13

$8,851,298

$499,000

$680,869

174

218

 

 

 

 

 

Extended

8

$8,379,899

$812,000

$1,047,487

190

246

 

 

 

 

 

Active In Range

191

$175,542,922

$675,000

$919,072

122

150

 

 

 

 

 

Current Active

98

$98,919,312

$740,950

$1,009,380

198

238

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

Sept. 17, 2020

30A - Home Sales Statistics- August, 2020

The chart below shows the market activity for 30A / South Walton County Area Home Sales during the last calendar month.  The  Area includes: Blue Mt. Beach, Grayton Beach, Santa Rosa Beach, Seagrove Beach, Seacrest Beach, Rosemary Beach and Inlet Beach.  If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these links:

We are very excited about launching it and are confident it will be a terrific tool for you.

MARKET SUMMARY 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

221

$334,158,896

$958,095

$1,512,031

137

187

$321,593,696

$955,000

$1,455,175

96.24

93.62

List/Sold

46

$82,979,065

$1,122,500

$1,803,892

120

188

$80,400,570

$1,107,500

$1,747,838

96.89

94.34

Co-Broker

175

$251,179,831

$949,900

$1,435,313

141

187

$241,193,126

$955,000

$1,378,246

96.02

93.38

New

196

$285,031,377

$989,950

$1,454,241

15

38

 

 

 

 

 

Pending

260

$406,118,287

$995,000

$1,561,993

98

134

 

 

 

 

 

Withdrawn

11

$17,106,400

$795,000

$1,555,127

96

107

 

 

 

 

 

Cancelled

29

$28,428,541

$625,917

$980,294

83

146

 

 

 

 

 

Expired

30

$49,835,117

$1,197,500

$1,661,170

382

390

 

 

 

 

 

Back On Market

56

$84,387,846

$1,081,000

$1,506,925

164

180

 

 

 

 

 

Extended

25

$48,303,970

$1,564,700

$1,932,158

327

421

 

 

 

 

 

Active In Range

694

$1,364,454,321

$1,242,000

$1,966,072

97

116

 

 

 

 

 

Current Active

303

$742,409,008

$1,799,000

$2,450,194

177

213

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

 
Sept. 17, 2020

Destin Home Condo Statistics August, 2020

The chart below shows the market activity for Destin Area Condo Sales during the last calendar month.  The Destin Area includes: Fort Walton Beach, Destin, Miramar Beach and Sandestin Resort.  If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try out these links

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

177

$82,411,278

$387,000

$465,600

121

148

$78,684,237

$370,000

$444,543

95.48

95.37

List/Sold

36

$17,226,400

$419,500

$478,511

153

190

$16,204,127

$368,500

$450,114

94.07

93.04

Co-Broker

141

$65,184,878

$387,000

$462,304

113

138

$62,480,110

$370,000

$443,121

95.85

95.99

New

298

$206,237,324

$476,500

$692,071

18

66

 

 

 

 

 

Pending

258

$115,846,042

$374,250

$449,015

103

129

 

 

 

 

 

Withdrawn

18

$10,546,787

$483,249

$585,932

203

203

 

 

 

 

 

Cancelled

24

$14,733,885

$449,500

$613,911

208

222

 

 

 

 

 

Expired

23

$10,611,025

$449,000

$461,348

440

470

 

 

 

 

 

Back On Market

38

$13,685,300

$357,000

$360,139

197

275

 

 

 

 

 

Extended

61

$34,213,252

$459,000

$560,872

355

418

 

 

 

 

 

Active In Range

995

$562,384,334

$435,000

$565,210

138

170

 

 

 

 

 

Current Active

577

$361,699,238

$450,000

$626,861

205

246

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.

Sept. 17, 2020

Destin Home Sales Statistics August, 2020

The chart below shows the market activity for Destin Area Home Sales during the last calendar month.  The Destin Area includes: Destin, Miramar Beach and Sandestin Resort.  If you would like more information on a specific neighborhood please call or text John Moran at 850-217-7618 or send an email to JohnMoran@AtTheBeachTeam.com and I will be happy to get it for you.

Note: Introducing our new website - Try these links out 

We are very excited about launching it and are confident it will be a terrific tool for you.

Market Summary 

Total

Total List Volume

Median List Price

Average List Price

DOM

CDOM

Total Sold Volume

Median Sold Price

Average Sold Price

SP/LP

SP/OLP

 

Sold

116

$101,121,156

$627,500

$871,734

91

133

$97,116,527

$622,450

$837,211

96.04

93.90

List/Sold

21

$20,390,910

$925,000

$970,995

92

103

$19,588,953

$900,000

$932,807

96.07

91.34

Co-Broker

95

$80,730,246

$624,900

$849,792

90

144

$77,527,574

$600,000

$816,079

96.03

94.57

New

97

$102,890,013

$825,000

$1,060,721

18

30

 

 

 

 

 

Pending

123

$110,840,148

$664,300

$901,139

90

141

 

 

 

 

 

Withdrawn

10

$9,864,299

$639,950

$986,429

89

89

 

 

 

 

 

Cancelled

12

$16,080,800

$511,950

$1,340,066

124

135

 

 

 

 

 

Expired

5

$8,314,400

$810,000

$1,662,880

364

364

 

 

 

 

 

Back On Market

37

$38,338,386

$835,000

$1,036,172

196

260

 

 

 

 

 

Extended

33

$47,944,949

$929,900

$1,452,877

285

325

 

 

 

 

 

Active In Range

391

$480,012,059

$948,900

$1,227,652

101

132

 

 

 

 

 

Current Active

198

$274,342,962

$1,109,000

$1,385,570

158

207

 

 

 

 

 


Information is deemed to be reliable, but is not guaranteed. See copyright notice.