A Varied Market in Q2
We are often asked, “How’s the market?”, which we love to almost always answer with a follow-up question of our own, “Which market do you want to know about?” We dive into each of these communities and coastal areas in our quarterly Market Report – the most recent edition you are now about to enjoy. While we’re seeing consistency across our entire market – from Destin to Panama City Beach – the nuances that make each of our beach communities special also contribute to their individuality.
As we move through mid-year 2019, the word “consistent” still defines how our marketing is moving. We paint our market broadly with the stroke of that brush as we start winding down summer and looking toward the fall. But, we also know the variances in each community present unique opportunities.
WaterSound has continued appeal for buyers and those seeking the utmost the market has to offer, with sales priced over $3M reflecting that desire. While just outside WaterSound, neighboring communities like WaterSound Origins are appealing to consumers looking for a quality product and a nice range of amenities at a more widely-attainable price point. In fact, for the first time, we are spotlighting WaterSound Origins with its own market data, which you’ll find in this report. The new construction there, along with the development of the 55-and-better Latitude Margaritaville WaterSound community, are growing its desirability among homebuyers.
In the New Urbanism communities of Seaside, Rosemary Beach and Alys Beach, the trend continues to be lifestyle driving people’s decision-making. Owners here looking to pique these buyers’ interest are evolving and modernizing their properties to meet the expectations of today’s buyers.
This, combined with new community amenities such as Alys’ state-of-the-art fitness center and up-and-coming gulf-front Beach Club, are going to take desirability to the next level. The narrative along 30A is the increased interest in the West End, where good value, a more attractive price point, and less congestion merge to create increased interest. Gulf-front condo inventory here is more abundant than previous quarters.
In Sandestin, sellers are enjoying greater average sales prices, while those looking in Burnt Pine continue to be drawn to the sought-after resort lifestyle. Sellers there can capitalize on those amenities by adding modern touches to set their homes apart, while buyers can enjoy graciously-sized homes with functional floor plans that can be personalized to their unique tastes.
Even slight shifts in location can produce a significantly different picture. We created this report to help inform you on what’s happening in your market, and invite you to contact your Scenic Sotheby’s International Realty agent if we can help you navigate your real estate journey.
