The word is out about our fantastic Emerald Coast real estate market.
2020 has certainly been a wild ride, and we’ve seen incredible real estate growth along the Emerald Coast. Part of this is due to the coveted way of life that our area offers. We have a very low crime rate and the people here have an amazing sense of well-being. The beach has amazing healing elements, and more and more buyers realize what an amazing place this is to live. Not only has the beach been popular, but the rental season has been extended to previously unseen lengths.
What do the latest year-over-year stats say? In the Destin area, the average sale price for single-family homes jumped from $654,000 to $787,000. For condos, the average sale price has gone from $563,000 to $636,000. The average sale price in Miramar Beach saw similar growth—single-family homes went from $783,000 to $883,000 and condos rose from $719,000 to $830,000.
30A has been divided into two sections, 30A West and 30A East, and each section has seen tremendous growth in terms of home sales and the average price point. In 30A West, the average sale price for single-family homes rose from $890,000 to $929,000. The average sale price for condos, meanwhile, rose from just under $1 million to $1.1 million. In 30A East, the average sale price for single-family homes rose from $1.3 million to $1.6 million, and the number of units sold rose from 399 to 520 homes.
In North Santa Rosa Beach, the average sale price for single-family homes rose from $390,000 to $462,000. We’re seeing an amazing increase in prices for waterfront homes because there aren’t that many on the market. Panama City Beach hasn’t seen as big of a jump in terms of average sale price for single-family homes, but there has been a significant increase in the absorption rate. The average sale price for condos, meanwhile, rose slightly from $385,000 to $387,000. We’re seeing great growth in the Pensacola and Perdido Key areas as well.
I encourage you to visit our beach and see why everyone else is moving here. We’re one of the fastest-growing residential markets in the country, and as I said, our rental season is only getting longer. We’re truly on the national radar these days, and we’d love to be your Emerald Beach real estate guide.
If you have any questions or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I look forward to hearing from you soon.