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.