2023 MARKET REPORT
16 S. BARRETT SQUARE 3 SOLD FOR $8,500,000 IN ROSEMARY BEACH RECORD-BREAKING SALE
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STATE OF THE MARKET SUMMARY
NOTABLE SALES
pages 4-5
pages 6-13
30A MARKET BREAKDOWN Inlet Beach | Rosemary Beach | Alys Beach Seacrest | Watersound | Seagrove | Seaside WaterColor | Grayton Beach | Blue Mountain | Dune Allen 30A GULF FRONT MARKET 30A MARKET OVERALL pages 14-29
DESTIN MARKET
MIRAMAR BEACH & SANDESTIN MARKET
PANAMA CITY BEACH MARKET
pages 30-31
pages 32-33
pages 34-35
MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES
MARKET OVERVIEW CONDOMINIUMS
page 36
page 37
page 3
In 2023, the number of sales was down by 21% when compared to 2022 with detached single-family home sales decreasing from 2,382 to 1,877 across the Emerald Coast market. Sales data in the 30A market overall remained steady with the average sales price remaining consistent for detached singlefamily homes. With a staggering 36 percent increase in average sales price, condos have continued to accrue value, especially in the Gulf front market. Most notably, the coastal community of Seaside had the greatest amount of positive change in the market with the average sales price up by 21%, the average price per square foot up by a huge margin of 42 percent, with homes surprisingly spending less time on the market than the previous year. Another market that has noticed a positive rate of growth is Panama City Beach, which has seen multiple new developments bring buyers to the Emerald Coast. With the average sales price of detached single-family homes up by 30 percent, it will remain a market to watch in the coming year. In 2024, we predict the first quarter to remain a buyers’ market featuring higher inventory and longer ‘days on market’ periods. However, when interest rates inevitably drop, we’re expecting the market to balance with steady pricing and increased sales activity. As always, having an experienced real estate advisor to help you navigate market adjustments is key.
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59 GREEN STREET SOLD FOR $11,000,000 · INLET BEACH page 6
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16 KIRKWOOD PLACE SOLD FOR $7,650,000 · INLET BEACH page 8
page 9
107 GOLFRIDGE DRIVE SOLD FOR $5,300,000 · WATERSOUND CAMP CREEK RECORD-BREAKING SALE
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208 PARADISE BY THE SEA BOULEVARD SOLD FOR $8,000,000 · PARADISE BY THE SEA REPRESENTING THE BUYER page 12
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INLET BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 103 2022
80 2023
AVERAGE PRICE PER SQ. FT. $657 2022
$618 2023
AVERAGE SALES PRICE $2,401,358 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
34 2022
101% 2022
70 2023
$1,951,707 2023
97% 2023 page 15
ROSEMARY BEACH DETACHED SINGLE FAMILY HOMES
←
12%
NUMBER OF SALES 50 2022
page 16
22 2023
AVERAGE PRICE PER SQ. FT. $1,575 2022
$1,762 2023
AVERAGE SALES PRICE $5,560,112 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
48 2022
97% 2022
49 2023
96% 2023
$5,244,772 2023
ALYS BEACH DETACHED SINGLE FAMILY HOMES
←
4%
NUMBER OF SALES 32 2022
27 2023
AVERAGE PRICE PER SQ. FT. $1,783 2022
$1,852 2023
AVERAGE SALES PRICE $6,591,384 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
14 2022
99% 2022
49 2023
$6,585,533 2023
96% 2023 page 17
SEACREST DETACHED SINGLE FAMILY HOMES
←
←
20%
NUMBER OF SALES 111 2022
82 2023
AVERAGE PRICE PER SQ. FT. $814 2022
AVERAGE DAYS ON MARKET 52 2022 page 18
17%
78 2023
$949 2023
AVERAGE SALES PRICE $2,314,881 2022
LIST PRICE TO SALES PRICE RATIO 97% 2022
94% 2023
$2,769,595 2023
WATERSOUND BEACH DETACHED SINGLE FAMILY HOMES
←
←
12%
NUMBER OF SALES 64 2022
55 2023
11%
AVERAGE PRICE PER SQ. FT. $963 2022
$1,078 2023
AVERAGE SALES PRICE $3,169,566 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
57 2022
98% 2022
82 2023
$3,510,345 2023
95% 2023 page 19
SEAGROVE BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 140 2022
page 20
207 2023
AVERAGE PRICE PER SQ. FT. $914 2022
$857 2023
AVERAGE SALES PRICE $2,836,415 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
48 2022
97% 2022
84 2023
94% 2023
$2,514,084 2023
SEASIDE DETACHED SINGLE FAMILY HOMES
←
←
21%
42%
NUMBER OF SALES
$1,722 2022
12 2023
AVERAGE SALES PRICE
$2,440 2023
$3,320,166 2022
1%
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
23 2022
98% 2022
17 2023
$4,019,000 2023
←
26%
←
12 2022
AVERAGE PRICE PER SQ. FT.
99% 2023 page 21
WATERCOLOR DETACHED SINGLE FAMILY HOMES
←
←
2%
NUMBER OF SALES 70 2022
page 22
53 2023
1%
AVERAGE PRICE PER SQ. FT. $1,081 2022
$1,099 2023
AVERAGE SALES PRICE $3,539,316 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
41 2022
98% 2022
84 2023
96% 2023
$3,563,726 2023
GRAYTON BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 23 2022
16 2023
AVERAGE PRICE PER SQ. FT. $1,053 2022
$1,076 2023
AVERAGE SALES PRICE $3,114,326 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
27 2022
96% 2022
101 2023
$2,744,906 2023
94% 2023 page 23
BLUE MOUNTAIN BEACH DETACHED SINGLE FAMILY HOMES
←
9%
NUMBER OF SALES 197 2022
page 24
133 2023
AVERAGE PRICE PER SQ. FT. $639 2022
$637 2023
AVERAGE SALES PRICE $1,581,598 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
41 2022
97% 2022
79 2023
96% 2023
$1,720,609 2023
DUNE ALLEN DETACHED SINGLE FAMILY HOMES
←
←
9%
7%
NUMBER OF SALES 208 2022
109 2023
AVERAGE PRICE PER SQ. FT. $525 2022
$564 2023
AVERAGE SALES PRICE $1,424,490 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
55 2022
99% 2022
85 2023
$1,549,823 2023
95% 2023 page 25
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30A GULF FRONT DETACHED SINGLE FAMILY HOMES
←
7%
NUMBER OF SALES 38 2022
32 2023
AVERAGE PRICE PER SQ. FT. $2,312 2022
$2,470 2023
AVERAGE SALES PRICE $11,090,394 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
38 2022
97% 2022
78 2023
$7,992,218 2023
93% 2023
CONDOMINIUMS
←
←
24%
NUMBER OF SALES 77 2022
74 2023
32%
AVERAGE PRICE PER SQ. FT. $1,141 2022
$1,411 2023
AVERAGE SALES PRICE $1,913,994 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
38 2022
98% 2022
60 2023
$2,516,984 2023
97% 2023
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30A MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES
←
←
4%
NUMBER OF SALES 1,239 2022
922 2023
1%
AVERAGE PRICE PER SQ. FT. $764 2022
$797 2023
AVERAGE SALES PRICE $2,307,084 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
40 2022
98% 2022
69 2023
$2,329,493 2023
96% 2023
CONDOMINIUMS
←
←
20%
NUMBER OF SALES 390 2022
279 2023
36%
AVERAGE PRICE PER SQ. FT. $845 2022
$1,010 2023
AVERAGE SALES PRICE $1,099,027 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
34 2022
98% 2022
77 2023
$1,492,036 2023
97% 2023 page 29
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DESTIN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 422 2022
317 2023
AVERAGE PRICE PER SQ. FT. $444 2022
$431 2023
AVERAGE SALES PRICE $1,332,649 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
38 2022
97% 2022
70 2023
$1,209,112 2023
95% 2023
CONDOMINIUMS
←
←
17%
7%
NUMBER OF SALES 740 2022
508 2023
AVERAGE PRICE PER SQ. FT. $508 2022
$546 2023
AVERAGE SALES PRICE $645,958 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
49 2022
98% 2022
77 2023
$753,385 2023
97% 2023
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MIRAMAR BEACH & SANDESTIN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 374 2022
272 2023
AVERAGE PRICE PER SQ. FT. $522 2022
$517 2023
AVERAGE SALES PRICE $1,488,333 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
35 2022
98% 2022
83 2023
$1,486,181 2023
96% 2023
CONDOMINIUMS
←
3%
NUMBER OF SALES 800 2022
487 2023
AVERAGE PRICE PER SQ. FT. $510 2022
$499 2023
AVERAGE SALES PRICE $611,476 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
42 2022
98% 2022
66 2023
$628,087 2023
96% 2023 page 33
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PANAMA CITY BEACH DETACHED SINGLE FAMILY HOMES
←
←
13%
NUMBER OF SALES 347 2022
366 2023
30%
AVERAGE PRICE PER SQ. FT. $379 2022
$429 2023
AVERAGE SALES PRICE $794,639 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
37 2022
99% 2022
65 2023
$1,033,811 2022
97% 2023
CONDOMINIUMS
←
4%
NUMBER OF SALES 513 2022
414 2023
AVERAGE PRICE PER SQ. FT. $444 2022
$441 2023
AVERAGE SALES PRICE $514,151 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
40 2022
98% 2022
70 2023
$534,999 2022
96% 2023 page 35
DETACHED SINGLE FAMILY HOMES
←
NUMBER OF SALES 2,382 2022
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1,877 2023
←
3%
2%
AVERAGE PRICE PER SQ. FT. $527 2022
$544 2023
AVERAGE SALES PRICE $1,480,676 2022
AVERAGE DAYS ON MARKET
LIST PRICE TO SALES PRICE RATIO
38 2022
98% 2022
72 2023
96% 2023
$1,514,649 2023
CONDOS NUMBER OF SALES 2,443 2022
1,688 2023
←
8%
AVERAGE PRICE PER SQ. FT. $577 2022
$624 2023
←
19%
AVERAGE SALES PRICE $717,653 2022
$852,127 2023
AVERAGE DAYS ON MARKET 41 2022
73 2023
LIST PRICE TO SALES PRICE RATIO 98% 2022
97% 2023 page 37