Q4 2023 MARKET REPORT
17 LA GARZA COURT $11,250,000 · ALYS BEACH
page 2
STATE OF THE MARKET SUMMARY
NOTABLE SALES
LUXURY LISTINGS
pages 4-5
pages 6-13
pages 14-21
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 22-37
DESTIN MARKET
MIRAMAR BEACH & SANDESTIN MARKET
PANAMA CITY BEACH MARKET
pages 38-39
pages 40-41
pages 42-43
MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES
MARKET OVERVIEW CONDOMINIUMS
page 44
page 45
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The number of sales decreased between the third and fourth quarter of 2023 with detached single-family home sales decreasing from 414 in to 342 across the market. Sales data in the 30A market overall has remained steady with the average sales price remaining consistent and a two percent increase in average price per square foot for detached single family homes. Most notably, the average sales price has increased by a minimum of 18% in various markets including a whopping 49% increase in Seacrest compared to Quarter 4 of last year. The average sales price for condos in Q4 increased drastically in comparison to Q3, due in large part to the record-breaking sale of 16 S. Barrett Square 3 in Rosemary Beach for $8.5 Million, represented by Engel & Völkers 30A Beaches. The average sales price of gulf-front detached singlefamily homes on Scenic 30A continued to climb between Q3 and Q4 from roughly $7.7 Million to $8.4 Million, consistently proving gulf-front property to be a worthy investment on 30A. 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. page 4
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16 S BARRETT SQUARE 3 SOLD FOR $8,500,000 · ROSEMARY BEACH page 6
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37 S BRIDGE LANE #423 SOLD FOR $4,300,000 · WATERSOUND BEACH
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72 WINDWARD LANE SOLD FOR $6,875,000 · ROSEMARY BEACH page 10
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226 PARADISE BY THE SEA BOULEVARD SOLD FOR $4,500,000 · PARADISE BY THE SEA page 12
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59 GREEN STREET $13,125,000 · INLET BEACH
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614 E. ROYAL FERN WAY $3,985,000 · WATERCOLOR page 16
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273 JACK KNIFE DRIVE $2,649,000 · WATERSOUND ORIGINS page 18
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49 HINTON DRIVE 5 $3,499,000 · SEAGROVE BEACH page 20
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INLET BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 20 Q4 2022
16 Q4 2023
AVERAGE PRICE PER SQ. FT. $586 Q4 2022
DOWN 4% AVERAGE DAYS ON MARKET 48 Q4 2022
46 Q4 2023
$579 Q4 2023
AVERAGE SALES PRICE $2,186,078 Q4 2022
$1,965,801 Q4 2023
LIST PRICE TO SALES PRICE RATIO 104% Q4 2022
96% Q4 2023 page 23
ROSEMARY BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 7 Q4 2022
3 Q4 2023
AVERAGE PRICE PER SQ. FT. $1,858 Q4 2022
AVERAGE DAYS ON MARKET 23 Q4 2022 page 24
39 Q4 2023
$1,843 Q4 2023
AVERAGE SALES PRICE $6,677,142 Q4 2022
LIST PRICE TO SALES PRICE RATIO 95% Q4 2022
94% Q4 2023
$5,158,333 Q4 2023
ALYS BEACH DETACHED SINGLE FAMILY HOMES UP 17% NUMBER OF SALES 6 Q4 2022
7 Q4 2023
AVERAGE PRICE PER SQ. FT. $1,867 Q4 2022
AVERAGE DAYS ON MARKET 22 Q4 2022
106 Q4 2023
$1,615 Q4 2023
AVERAGE SALES PRICE $6,392,331 Q4 2022
$5,499,285 Q4 2023
LIST PRICE TO SALES PRICE RATIO 97% Q4 2022
96% Q4 2023 page 25
SEACREST DETACHED SINGLE FAMILY HOMES UP 20%
UP 22%
UP 49%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
15 Q4 2022
18 Q4 2023
$770 Q4 2022
AVERAGE DAYS ON MARKET 97 Q4 2022 page 26
113 Q4 2023
$936 Q4 2023
$1,878,386 Q4 2022
LIST PRICE TO SALES PRICE RATIO 95% Q4 2022
91% Q4 2023
$2,790,202 Q4 2023
WATERSOUND BEACH DETACHED SINGLE FAMILY HOMES UP 160% NUMBER OF SALES 5 Q4 2022
13 Q4 2023
AVERAGE PRICE PER SQ. FT. $942 Q4 2022
DOWN 62% AVERAGE DAYS ON MARKET 188 Q4 2022
72 Q4 2023
$888 Q4 2023
AVERAGE SALES PRICE $2,787,000 Q4 2022
$2,700,769 Q4 2023
UP 1% LIST PRICE TO SALES PRICE RATIO 93% Q4 2022
94% Q4 2023 page 27
SEAGROVE BEACH DETACHED SINGLE FAMILY HOMES UP 19% NUMBER OF SALES 16 Q4 2022
19 Q4 2023
AVERAGE PRICE PER SQ. FT. $1,029 Q4 2022
AVERAGE DAYS ON MARKET 36 Q4 2022 page 28
105 Q4 2023
$792 Q4 2023
AVERAGE SALES PRICE $3,180,000 Q4 2022
LIST PRICE TO SALES PRICE RATIO 97% Q4 2022
93% Q4 2023
$2,079,492 Q4 2023
SEASIDE DETACHED SINGLE FAMILY HOMES UP 50%
UP 2%
UP 21%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
2 Q4 2022
3 Q4 2023
$1,951 Q4 2022
DOWN 35% AVERAGE DAYS ON MARKET 52 Q4 2022
34 Q4 2023
$1,996 Q4 2023
$2,550,000 $3,083,333 Q4 2022 Q4 2023
UP 8% LIST PRICE TO SALES PRICE RATIO 91% Q4 2022
98% Q4 2023 page 29
WATERCOLOR DETACHED SINGLE FAMILY HOMES UP 15%
UP 18%
NUMBER OF SALES 13 Q4 2022
15 Q4 2023
AVERAGE PRICE PER SQ. FT. $1,057 Q4 2022
AVERAGE DAYS ON MARKET 85 Q4 2022 page 30
87 Q4 2023
$1,038 Q4 2023
AVERAGE SALES PRICE $2,926,529 Q4 2022
LIST PRICE TO SALES PRICE RATIO 95% Q4 2022
95% Q4 2023
$3,448,666 Q4 2023
GRAYTON BEACH DETACHED SINGLE FAMILY HOMES UP 33% NUMBER OF SALES 3 Q4 2022
4 Q4 2023
AVERAGE PRICE PER SQ. FT. $1,544 Q4 2022
AVERAGE DAYS ON MARKET 27 Q4 2022
134 Q4 2023
$1,435 Q4 2023
AVERAGE SALES PRICE $4,495,833 Q4 2022
$1,975,000 Q4 2023
LIST PRICE TO SALES PRICE RATIO 98% Q4 2022
95% Q4 2023 page 31
BLUE MOUNTAIN BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 44 Q4 2022
25 Q4 2023
AVERAGE PRICE PER SQ. FT. $627 Q4 2022
AVERAGE DAYS ON MARKET 65 Q4 2022 page 32
100 Q4 2023
$583 Q4 2023
AVERAGE SALES PRICE $1,557,953 Q4 2022
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
96% Q4 2023
$1,374,698 Q4 2023
DUNE ALLEN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 27 Q4 2022
27 Q4 2023
UP 13%
UP 34%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$518 Q4 2022
AVERAGE DAYS ON MARKET 74 Q4 2022
94 Q4 2023
$586 Q4 2023
$1,223,516 Q4 2022
$1,641,925 Q4 2023
LIST PRICE TO SALES PRICE RATIO 99% Q4 2022
94% Q4 2023 page 33
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30A GULF FRONT DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 6 Q4 2022
5 Q4 2023
AVERAGE PRICE PER SQ. FT. $2,629 Q4 2022
$2,136 Q4 2023
AVERAGE DAYS ON MARKET 64 Q4 2022
AVERAGE SALES PRICE $13,025,000 $8,395,000 Q4 2022 Q4 2023
LIST PRICE TO SALES PRICE RATIO
117 Q4 2023
95% Q4 2022
92% Q4 2023
CONDOMINIUMS
NUMBER OF SALES 13 Q4 2022
12 Q4 2023
UP 12%
UP 13%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$1,097 Q4 2022
AVERAGE DAYS ON MARKET 37 Q4 2022
64 Q4 2023
$1,231 Q4 2023
$1,461,461 Q4 2022
$1,646,250 Q4 2023
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
94% Q4 2023
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30A MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES UP 2% NUMBER OF SALES 215 Q4 2022
207 Q4 2023
AVERAGE PRICE PER SQ. FT. $755 Q4 2022
$768 Q4 2023
AVERAGE DAYS ON MARKET 54 Q4 2022
AVERAGE SALES PRICE $2,161,410 Q4 2022
$2,162,131 Q4 2023
LIST PRICE TO SALES PRICE RATIO
80 Q4 2023
97% Q4 2022
96% Q4 2023
CONDOMINIUMS
NUMBER OF SALES 25 Q4 2022
20 Q4 2023
UP 26%
UP 71%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$1,117 Q4 2022
AVERAGE DAYS ON MARKET 38 Q4 2022
49 Q4 2023
$1,227 Q4 2023
$1,684,644 Q4 2022
$2,134,300 Q4 2023
LIST PRICE TO SALES PRICE RATIO 97% Q4 2022
96% Q4 2023 page 37
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DESTIN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 70 Q4 2022
64 Q4 2023
UP 2%
UP 20%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$442 Q4 2022
$452 Q4 2023
AVERAGE DAYS ON MARKET 57 Q4 2022
$1,167,372 Q4 2022
$1,396,142 Q4 2023
LIST PRICE TO SALES PRICE RATIO
74 Q4 2023
96% Q4 2022
95% Q4 2023
CONDOMINIUMS UP 12%
UP 4%
UP 17%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
102 Q4 2022
114 Q4 2023
$541 Q4 2022
AVERAGE DAYS ON MARKET 52 Q4 2022
72 Q4 2023
$560 Q4 2023
$664,355 Q4 2022
$778,010 Q4 2023
LIST PRICE TO SALES PRICE RATIO 97% Q4 2022
97% Q4 2023
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MIRAMAR BEACH & SANDESTIN DETACHED SINGLE FAMILY HOMES UP 4% NUMBER OF SALES 69 Q4 2022
44 Q4 2023
AVERAGE PRICE PER SQ. FT. $539 Q4 2022
AVERAGE DAYS ON MARKET 56 Q4 2022
65 Q4 2023
$510 Q4 2023
AVERAGE SALES PRICE $1,426,644 Q4 2022
$1,489,114 Q4 2023
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
95% Q4 2023
CONDOMINIUMS
NUMBER OF SALES 122 Q4 2022
85 Q4 2023
AVERAGE PRICE PER SQ. FT. $510 Q4 2022
AVERAGE DAYS ON MARKET 53 Q4 2022
65 Q4 2023
$457 Q4 2023
AVERAGE SALES PRICE $600,206 Q4 2022
$532,964 Q4 2023
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
96% Q4 2023 page 41
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PANAMA CITY BEACH DETACHED SINGLE FAMILY HOMES UP 25%
UP 8%
UP 20%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
67 Q4 2022
84 Q4 2023
$398 Q4 2022
AVERAGE DAYS ON MARKET 51 Q4 2022
63 Q4 2023
$431 Q4 2023
$841,427 Q4 2022
$1,008,522 Q4 2022
LIST PRICE TO SALES PRICE RATIO 99% Q4 2022
96% Q4 2023
CONDOMINIUMS
NUMBER OF SALES 96 Q4 2022
88 Q4 2023
AVERAGE PRICE PER SQ. FT. $455 Q4 2022
AVERAGE DAYS ON MARKET 61 Q4 2022
81 Q4 2023
$444 Q4 2023
AVERAGE SALES PRICE $548,340 Q4 2022
$518,973 Q4 2022
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
95% Q4 2023 page 43
DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
364 Q4 2022
$1,009 Q4 2022
$2,806,444 Q4 2022
342 Q4 2023
AVERAGE DAYS ON MARKET 63 Q4 2022 page 44
81 Q4 2023
$977 Q4 2023
LIST PRICE TO SALES PRICE RATIO 97% Q4 2022
95% Q4 2023
$2,543,663 Q4 2023
CONDOS NUMBER OF SALES 375 Q4 2022
346 Q4 2023
UP 8% AVERAGE PRICE PER SQ. FT. $588 Q4 2022
$632 Q4 2023 UP 26%
AVERAGE SALES PRICE $702,874 Q4 2022
$883,353 Q4 2023
AVERAGE DAYS ON MARKET 54 Q4 2022
73 Q4 2023
LIST PRICE TO SALES PRICE RATIO 96% Q4 2022
96% Q4 2023 page 45