2018 : Q1 | Panama City Beach Market Report | Beach Properties of Florida

MARKET REPORT | Q1 2018

155 BANNERMA

SOLD F

AN BEACH LANE

FOR $10,100,000

#

1

AGENT IN PANAMA CITY BEACH CONDO SALES Q1 2 018

#

5

HIGHEST PRODUCING BROKERAGE IN PANAMA CITY BEACH CONDO SALES Q1 2 018

#

1

BROKERAGE FROM INLET BEACH TO SANDESTIN Q1 2 018

#

1

HIGHEST PRICED SALE OF THE YEAR IN NORTHWEST FLORIDA $ 10,100,000

$

145,000,000 BROKERAGE SALES VOLUME Q1 2 018

#

32

RANKING WITHIN 1,350+ BERKSHIRE HATHAWAY HOMESERVICES GLOBAL OFFICES

HOW’S THE MARKET? We hear that question daily.

Reviewing the past six years on the Gulf Coast shows a growth-oriented market reflecting national trends. For this report, side-by-side comparisons have been made showing the fourth quarter of 2017 against the first quarter of 2018.

The market has changed a great deal over the last twelve months, but quarterly gains are especially noteworthy. Steady growth is evidenced by the increase in average prices, rising percentage of listing price sold and the reduction in days on the market. This steady growth is occurring on an almost daily basis, making 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 all time high; demand exceeds supply and that drives the growth of our local market.

So… how’s the market? Let us show you.

#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

15625 FRONT BEACH ROAD

8

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PANAMA CITY BEACH CONDOS

333

395

NUMBER OF SALES Q4 20 1 7

NUMBER OF SALES Q1 2018

$

255,321

AVERAGE SOLD PRICE Q4 20 1 7

$

223

$

265,848

AVERAGE SOLD PRICE Q1 2018

$

235

AVERAGE PRICE PER SQUARE FOOT Q 4 20 1 7

AVERAGE PRICE PER SQUARE FOOT Q1 2018

149

103

AVERAGE DAYS ON MARKET Q4 20 1 7

AVERAGE DAYS ON MARKET Q1 2018

96%

96%

PERCENTAGE OF LIST PRICE SOLD Q4 20 1 7

PERCENTAGE OF LIST PRICE SOLD Q1 2018

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

9

PANAMA CITY BEACH BC

8737 NORTH LAGOON DRIVE

10

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PANAMA CITY BEACH

210

232

NUMBER OF SALES Q4 20 1 7

NUMBER OF SALES Q1 2018

$

301,044

AVERAGE SOLD PRICE Q4 20 1 7

$

169

$

310,505

AVERAGE SOLD PRICE Q1 2018

$

175

AVERAGE PRICE PER SQUARE FOOT Q 4 20 1 7

AVERAGE PRICE PER SQUARE FOOT Q1 2018

110

88

AVERAGE DAYS ON MARKET Q4 20 1 7

AVERAGE DAYS ON MARKET Q1 2018

96%

96%

PERCENTAGE OF LIST PRICE SOLD Q4 20 1 7

PERCENTAGE OF LIST PRICE SOLD Q1 2018

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

11

PANAMA CITY BC

3604 BILTMORE DRIVE

12

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

PANAMA CITY

313

319

NUMBER OF SALES Q4 20 1 7

NUMBER OF SALES Q1 2018

201,896

$

$

AVERAGE SOLD PRICE Q4 20 1 7

$

112

210,417

AVERAGE SOLD PRICE Q1 2018

$

112

AVERAGE PRICE PER SQUARE FOOT Q 4 20 1 7

AVERAGE PRICE PER SQUARE FOOT Q1 2018

85

85

AVERAGE DAYS ON MARKET Q4 20 1 7

AVERAGE DAYS ON MARKET Q1 2018

98%

97%

PERCENTAGE OF LIST PRICE SOLD Q4 20 1 7

PERCENTAGE OF LIST PRICE SOLD Q1 2018

MARKET REPORT Q1 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA

13

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