2020 | Bay County Annual Market Report | Berkshire Hathaway HomeServices

2020 ANNUAL MARKET REPORT

INSPIRE Living along the world’s most beautiful beaches, every day is filled with promise. It seems as though the Gulf of Mexico is an endless source of inspiration for many, bringing with it the courage, clarity and insight to bring about change and find innovative new avenues to explore.

Inspiration comes in many forms yet it carries over into every aspect of our lives. What inspires us professionally may give rise to a new change in our mindset that allows other areas of our lives to flourish. In the same regard, and what has happened to so many local residents, is that one trip to the beach inspires us to make our dream coastal lifestyle a reality.

As we reflect on the past decade, Inspire was the word that kept coming to mind. People were inspired to move to the coast and the numbers certainly reflect that! Families that only dreamed about living at their favorite beach found an opportunity to work remotely. Early retirement became a reality for couples seeking the warmth of the Florida panhandle. Investment-minded individuals made the decision to invest in rental properties, that would eventually become their full-time home.

This swell in population has given rise to influential changes across the board.

From design to architecture to the coastal lifestyle we all love here at the beach, there has a dramatic transformation over the past ten years and it’s exciting to witness. We are a collection of inspirations here along the coast - 30A, Destin, Panama City Beach, the Forgotten Coast - and the future looks just as impressive.

What inspires you? Is it the sound of crashing waves or the feel of the sugarwhite sand beneath your feet? Is it being able to leave the hustle and bustle of city life behind as you slip on your ‘fancy’ flip flops to wear to dinner? Is it the feeling of joy you experience at seeing your children love the Gulf of Mexico as you do? Or is the solitude of a quiet beach at sunrise as you start another spectacular day here on the coast?

Here at Berkshire Hathaway HomeServices Beach Properties of Florida, we find inspiration in our people - our clients, our colleagues and our local communities. We are eternally grateful for the opportunity to live where do and we’re passionate about sharing why our coastal towns are so extraordinary.

Let’s make 2021 the year we find your coastal inspiration.

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MARKET REPORT 2020 2018 || BERKSHIRE BERKSHIRE HATHAWAY HATHAWAY HOMESERVICES HOMESERVICES BEACH BEACH PROPERTIES PROPERTIES OF OF FLORIDA FLORIDA

BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA #

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LISTING BROKERAGE ON 30A 2020 *Transactions

TOP 5 LISTING BROKERAGE IN PANAMA CITY BEACH 2020 *Transactions & Volume

TOP 3 BROKERAGE ON THE FORGOTTEN COAST 2020 *Transactions & Volume

TOP 50 BROKERAGE WITHIN BERKSHIRE HATHAWAY HOMESERVICES WORLDWIDE 2016, 2017, 2018, 2019

OVER $1 BILLION IN ANNUAL SALES VOLUME 2020

MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

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BC

BAY COUNTY PANAMA CITY BEACH CONDOS PANAMA CITY BEACH PANAMA CITY BAY COUNTY NEW CONSTRUCTION

PANAMA CITY BEACH CONDOS BC

15625 FRONT BEACH ROAD - UNIT 302

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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

1,764

2019

2020

280,161

$

305,520 2020

2019

$

244

$

266

2019

2020

AVERAGE DAYS ON MARKET

$

1,554

82

87

2019

2020

PERCENTAGE OF LIST PRICE SOLD

AVERAGE PRICE PER SQUARE FOOT

AVERAGE SOLD PRICE

NUMBER OF SALES

PANAMA CITY BEACH CONDOS

97%

97%

2019

2020

14%

9%

9%

6%

0%

MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

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PANAMA CITY BEACH BC

1233 W WATER OAK BEND

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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PERCENTAGE OF LIST PRICE SOLD

AVERAGE DAYS ON MARKET

AVERAGE PRICE PER SQUARE FOOT

AVERAGE SOLD PRICE

NUMBER OF SALES

PANAMA CITY BEACH

$

1,027

1,139

2019

2020

374,668

$

441,294 2020

2019

$

194

$

218

11%

18%

12%

2019

2020

66

68

2019

2020

3%

97%

97%

2019

2020

0%

MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

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PANAMA CITY BC

3745 CEDAR PARK LANE

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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PERCENTAGE OF LIST PRICE SOLD

AVERAGE DAYS ON MARKET

AVERAGE PRICE PER SQUARE FOOT

AVERAGE SOLD PRICE

NUMBER OF SALES

PANAMA CITY

$

1,800

1,998

2019

2020

201,946

$

227,993 2020

2019

$

112

$

125

2019

2020

48

62

2019

2020

97%

97%

2019

2020

11%

13%

12%

29%

0%

MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

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BAY COUNTY NEW CONSTRUCTION NC

SWEETBAY MODEL HOME

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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PERCENTAGE OF LIST PRICE SOLD

AVERAGE DAYS ON MARKET

AVERAGE PRICE PER SQUARE FOOT

AVERAGE SOLD PRICE

NUMBER OF SALES

BAY COUNTY NEW CONSTRUCTION

$

370

444

2019

2020

311,924

$

315,631 2020

2019

$

159

$

163

2019

2020

44

53

2019

2020

100% 2019

99%

20%

1%

3%

20%

1%

2020

MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

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LOCALLY KNOWN. NATIONALLY RECOGNIZED. GLOBALLY RESPECTED.

©2021 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 Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity.