MARKET REPORT | Q2 2018
20 DEER LAK SOLD
TOP 10 BROKERAGE IN BAY COUNTY Q1 + Q2 2 018
TOP 3 BROKERAGE IN CONDOMINIUM SALES IN BAY COUNTY Q1 + Q2 2 018
#
1
BROKERAGE WITH HIGHEST INCREASE IN SALES VOLUME (67%) IN BAY COUNTY Y TD 2 018 v . Y TD 2 017
$
350,000,000+ SALES VOLUME Q1 + Q2 2 018
#
32
RANKING WITHIN 1,350+ BERKSHIRE HATHAWAY HOMESERVICES GLOBAL OFFICES Berkshire Elite Circle 2 016 + 2 017
#
502
RANKING ON SWANEPOEL MEGA 1000 LIST OF TOP PRODUCING NORTH AMERICAN BROKERAGES 2 017
KE BEACH DRIVE FOR $8,925,000
HOW’S THE MARKET? That question always comes up when discussing Florida real estate. The Gulf Coast is known for its spectacular beaches, but it’s also a growth-oriented market recognized nationally for its investment potential. For this report, side-by-side comparisons of the past three quarters have been made. You’ll see some interesting changes taking place. Significant gains can be seen in coastal communities across Northwest Florida (such as Panama City Beach), but it is the steady growth of all Gulf Coast regions that is of particular interest. The market is changing in a consistent manner. We’re seeing a reduction in inventory (fewer homes on the market) and a greater urgency to purchase quickly with homebuyers looking to maximize their investment before prices rise. This trend makes quarterly reporting a priority to get the best sense of our current cycle. Minor fluctuations can be seen, but the market data shows the strength and stability of Northwest Florida real estate. Interest in coastal homes is at an all time high; with demand exceeding supply, it’s an exciting chapter for the Gulf Coast.
So… how’s the market? Let’s take a look.
#GOODTOKNOW AVERAGE SOLD PRICE : The average sold price of a property. PRICE PER SQUARE FOOT : The average sold price per square foot. AVERAGE DAYS ON MARKET : An average of a property’s cumulative days on the market prior to its sale. NUMBER OF SALES : Total number of residential home sales. PERCENTAGE OF LIST PRICE SOLD : The percentage of the home’s original list price compared to its final sold price. All reporting is based on sales data for Residential, Detached Single Family properties with the exception of Panama City Beach condos. All information is deemed to be reliable, but is not guaranteed.
BC
BAY COUNTY PANAMA CITY BEACH CONDOS PANAMA CITY BEACH PANAMA CITY
PANAMA CITY BEACH CONDOS BC
9450 SOUTH THOMAS DRIVE
8
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PANAMA CITY BEACH CONDOS
333
395
489
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
255,321
$
265,848
$
261,972
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
223
$
235
$
232
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
149
103
98
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
96%
96%
97%
PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD Q4 2017
Q1 2018
Q2 2018
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
9
PANAMA CITY BEACH BC
10254 EAST HIGHWAY 30A
10
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PANAMA CITY BEACH
210
232
248
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
301,044
$
310,505
$
359,856
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
169
$
175
$
186
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
110
88
70
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
96%
96%
97%
PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD Q4 2017
Q1 2018
Q2 2018
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
11
PANAMA CITY BC
2409 PRETTY BAYOU DRIVE
12
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PANAMA CITY
313
319
413
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
201,896
$
210,417
$
202,870
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
112
$
112
$
112
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
85
85
69
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
98%
97%
97%
PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD PERCENTAGE OF LIST PRICE SOLD Q4 2017
Q1 2018
Q2 2018
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
13
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