MARKET REPORT | Q2 2018
20 DEER LAK SOLD
#
1
BROKERAGE ON 30A Q1 + Q2 2 018
#
1
BROKERAGE OF LISTINGS ABOVE $5,000,000 Q1 + Q2 2 018
5 OF NW FLORIDA’S TOP 10 HIGHEST PRICED SALES OF THE YEAR Q1 + Q2 2018
$
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
KE BEACH DRIVE FOR $8,925,000
PRODUCING NORTH AMERICAN BROKERAGES 2 017
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 luxury communities, such as WaterSound Beach, as well as the coastal communities of Panama City Beach and Cape San Blas. It is the steady growth of these and all Northwest Florida regions however, 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.
30A
“Price is what you pay. Value is what you get.” WARREN BUFFET CEO, BERSHIRE HATHAWAY INC.
6
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
30A 30A OVERALL ROSEMARY BEACH ALYS BEACH WATERSOUND BEACH SEASIDE WATERCOLOR SANTA ROSA BEACH
30A OVERALL 30A
70 SEAGROVE VILLAGE DRIVE
8
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
30A OVERALL
$
228
203
289
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
1,067,742
$
1,223,571
$
1,250,950
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
383
$
450
$
454
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
153
172
175
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
97%
97%
96%
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
ROSEMARY BEACH 30A
101 ROUND ROAD
10
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
ROSEMARY BEACH
$
7
7
10
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
2,277,129
$
2,616,286
$
2,169,550
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
675
$
840
$
744
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
193
349
290
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
93%
94%
95%
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
ALYS BEACH 30A
29 LAGARZA COURT
12
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
ALYS BEACH
$
5
5
7
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
3,082,778
$
3,357,568
$
2,976,934
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
879
$
931
$
921
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
181
51
125
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
97%
99%
98%
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
WATERSOUND BEACH 30A
242 EAST YACHT POND LANE
14
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
WATERSOUND BEACH
$
6
5
6
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
2,724,167
$
2,193,200
$
2,752,333
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
669
$
576
$
788
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
219
342
138
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
96%
94%
96%
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
15
SEASIDE 30A
WAKULLA LANE
16
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
SEASIDE
$
2
5
10
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
1,775,750
$
1,677,500
$
1,570,390
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
997
$
1,397
$
959
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
269
225
175
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
92%
95%
96%
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
17
WATERCOLOR 30A
83 VERMILLION WAY
18
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
WATERCOLOR
$
19
22
29
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
1,515,463
$
1,630,114
$
1,745,310
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
482
$
514
$
527
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
240
190
232
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
95%
96%
94%
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
19
SANTA ROSA BEACH 30A
15 FORT PANIC DRIVE
20
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
SANTA ROSA BEACH
87
87
112
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
365,323
$
325,382
$
398,187
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
167
$
167
$
183
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE
Q4 2017
Q1 2018
FOOT
119
126
128
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
97%
97%
98%
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
21
NC
N
NEW CONSTRUCTION SOUTH WALTON
NEW CONSTRUCTION NC
CATNAP ALLEY | KAIYA BEACH RESORT 24
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
NEW CONSTRUCTION
113
107
159
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
787,548
$
879,211
$
894,805
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
286
$
310
$
306
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
133
148
187
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
99%
98%
99%
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
25
EC
EMERALD COAST SANDESTIN MIRAMAR BEACH DESTIN
SANDESTIN EC
9100 BAYTOWNE WHARF BOULEVARD
28
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
SANDESTIN
45
39
29
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
755,139
$
703,286
$
729,333
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
272
$
276
$
288
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
172
160
127
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
96%
96%
96%
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
29
MIRAMAR BEACH EC
93 NORTH BEACH DRIVE
30
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
MIRAMAR BEACH
$
37
39
55
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
658,094
$
708,491
$
681,152
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
256
$
260
$
248
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
187
190
105
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
AVERAGE DAYS ON MARKET
Q4 2017
Q1 2018
Q2 2018
97%
94%
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
31
DESTIN EC
114 SANDPRINT CIRCLE
32
MARKET REPORT Q2 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
DESTIN
104
100
131
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q4 2017
Q1 2018
Q2 2018
$
578,660
$
703,258
$
707,701
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q4 2017
Q1 2018
Q2 2018
$
225
$
233
$
249
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
AVERAGE PRICE PER SQUARE FOOT
Q4 2017
Q1 2018
Q2 2018
137
171
148
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
33
LOCALLY KNOWN. NATIONALLY RECOGNIZED. GLOBALLY RESPECTED.
49A WaterColor Way, WaterColor, FL 32459 www.BeachPropertiesFLA.com ©2018 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.