r e a l e s t a t e
Prices Trends Along 30-A b y E r i n O d e n
AVERAGE HOME SALES PRICES First Half of 2019
The local home and condo market became a $1 billion industry in 2015 and volume of home sales exceeded $1.5 billion in 2018.
OVERALL 30A CORRIDOR
ROSEMARY
ALYS BEACH
$1,025,736 $1,024,993
$1,824,029 $1,915,957
$2,787,274 $2,399,410
H1 2018 H1 2019
0 %
5 %
14%
WATERSOUND BEACH
N ew urbanism town planning has defined our coastal area, in lending an idyllic lifestyle and what many find to be the perfect beach towns. Slide on your swimsuit and flip flops and trade your car in for a beach cruiser bicycle, as you step away from the real world and settle in to beach time The growing appeal of our coastal communities along the Scenic Highway 30A corridor is evident in the recent home sales trends. The local home and condo market became a $1 billion industry in 2015 and volume of home sales exceeded $1.5 billion in 2018. Increasing buyer demand is well documented in the mounting sales volumes and up ticking prices. We continue to monitor local home price trends, as our home market along the 30-A corridor has experienced 8 years of strong upward appreciation. In the first half of this year, the average home sales price for the overall 30-A corridor was flat, though impressive at just over $1 million. It is important to note that most of the planned communities have recorded price appreciation. The gulf-front segment has also logged notable appreciation, with an average sales price of just under $2 million for all Gulf-front homes and condos that closed in the first half of the year. This is up 9% over last year’s first half. While home prices in Alys Beach reflected depreciation, it is significant to place this in context of the total dollar volume of sales. The
WATERCOLOR
SEASIDE
$2,246,864 $2,554,583
$1,653,700 $1,814,001
$1,624,463 $2,010,813
H1 2018 H1 2019
14%
10%
24%
30A GULF FRONT
30A $3MILLION+
GRAYTON BEACH
$1,830,147 $1,989,522
$4,475,461 $3,918,920
$1,459,400 $1,537,143
H1 2018 H1 2019
9 %
12%
5 %
Statistics according to data gathered from FLEX MLS for combined residential properties (detached homes, attached units and condos). Deemed reliable but not guaranteed.
number of home sales transactions and the volume of sales were both up in Alys Beach, showing that more sales occurred but simply at lower price points. The local market remains energetic and the reach continues to expand. The number of non- stop flights from Northwest Florida Beaches International Airport continues to increase, allowing more and more cities direct access to our beach towns. We know that accurate market knowledge lends an edge in assessing opportunity in the real estate market.
Erin Oden is the principal broker and owner of Coastal Luxury, a real estate firm that maintains a strong emphasis on intimate market knowledge and expertise in the luxury and Gulf-front market. Erin can be reached at (850) 502-1220 or erin@ coastalluxury.com. Or, stop by Coastal Luxury, located directly on 30A, the first office east of Alys Beach. Search all available properties at coastalluxury.com/ SEARCH.
Erin Oden
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