2018 : Q2 | Panama City Beach Market Report | Berkshire Hathaway HomeServices Beach Properties of FL

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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

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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

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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

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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

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