2018 : Q3 | Panama City Beach Market Report | Berkshire Hathaway HomeServices Beach Properties of FL

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MARKET REPORT | Q3 2018


8500 GR


TOP 10 BROKERAGE IN PANAMA CITY BEACH 2 016 + 2 017 + 2018 Y TD

147% INCREASE IN RESIDENTIAL SALES 2 018 Y TD v s. 2017 Y TD

$

70,000,000+ SALES VOLUME 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 TOP PRODUCING NORTH AMERICAN BROKERAGES 2 017

RIVERCAMPS

RASS LAKE LANE


HOW’S THE MARKET? Our third quarter data shows the strength of the Gulf Coast markets. We saw a reduction in inventory (fewer homes on the market) and a greater urgency in homebuyers’ purchasing timelines. Homebuyers sought to contract quickly, before prices rise and weaken their investment. Homeowners wanting to sell are faced with balancing their desire to maximize their return with a trend of decreasing average days on market. This trend makes quarterly reporting a valuable component to a thorough understanding of the current cycle. There are countless opportunities available to those interested in investing, full-time ownership or building new along the Gulf Coast. If you have questions about the market, trends or your goals, give us a call. We’d love to share our insight with you and help you make a wiser, more informed decision about investing in Florida’s 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

6627 SOUTH THOMAS DRIVE

8

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA


PANAMA CITY BEACH CONDOS

333

395

489

424

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

255,321

$

265,848

$

261,972

$

272,780

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

223

$

235

$

232

$

233

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

Q4 2017

Q1 2018

Q2 2018

Q3 2018

149

103

98

97

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

ON MARKET

ON MARKET

ON MARKET

ON MARKET

Q4 2017

Q1 2018

Q2 2018

Q3 2018

96%

96%

97%

97%

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

Q4 2017

Q1 2018

Q2 2018

Q3 2018

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

9


PANAMA CITY BEACH BC

3510 FOX RUN BOULEVARD

10

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA


PANAMA CITY BEACH

210

232

248

255

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

301,044

$

310,505

$

359,856

$

378,293

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

169

$

175

$

186

$

196

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

Q4 2017

Q1 2018

Q2 2018

Q3 2018

110

88

70

81

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

ON MARKET

ON MARKET

ON MARKET

ON MARKET

Q4 2017

Q1 2018

Q2 2018

Q3 2018

96%

96%

97%

97%

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

Q4 2017

Q1 2018

Q2 2018

Q3 2018

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

11


PANAMA CITY BC

260 HADLEY LANE

12

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA


PANAMA CITY

313

319

413

431

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

NUMBER OF SALES

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

201,896

$

210,417

$

202,870

$

209,024

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE

Q4 2017

Q1 2018

Q2 2018

Q3 2018

$

112

$

112

$

112

$

118

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

AVERAGE PRICE PER

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

SQUARE FOOT

Q4 2017

Q1 2018

Q2 2018

Q3 2018

85

85

69

60

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

AVERAGE DAYS

ON MARKET

ON MARKET

ON MARKET

ON MARKET

Q4 2017

Q1 2018

Q2 2018

Q3 2018

98%

97%

97%

97%

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

PERCENTAGE OF

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

LIST PRICE SOLD

Q4 2017

Q1 2018

Q2 2018

Q3 2018

MARKET REPORT Q3 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

13


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15750 Panama City Beach Pkwy., Unit 140, Panama City Beach, FL 32413 www.PCB.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.