2017 Year-EndReal Estate Update

Local Update

The Emerald Coast has been in the press a lot lately. There’s no question why with our area’s beautiful beaches, perfect seasons and wonderful beach lifestyle. Here are a few of the area’s latest accolades:

2017 Best in the US - LonelyPlanet.com

2017 Best Summer Destinations For Families - TripAdvisor

#1 & 2 Most Popular Vacation Spots 2016 - TripAdvisor

#1 Most Popular US Beaches - Yahoo Travel

#1 Best Places to Live and Boat - Boating Magazine

#5 Best Places to Buy a Vacation Home - Huffington Post

UPCOMING EVENTS

February30A Wine Festival - Alys BeachFebruary 22nd - 25th, 2018Showcasing renowned vintners, the four-day celebration benefiting Children’s Volunteer Health Network features wine tasting and a variety of local culinary treats.

MarchTequila & Taco Festival - HarborWalk VillageMarch 10th, 2018Enjoy a flavorful afternoon on the Destin Harbor full of tacos, live music and tequila tastings. Sponsored by Crab Island Cantina.

AprilSeabreeze Jazz Festival - Panama City BeachApril 18th - 22nd, 2018The ultimate weekend of smooth jazz along the Emerald Coast, this festival features over 20 artists, shopping and dining in the most popular part of the city.

2017 Year-End Market U

pdateThe N

athan Abbott Team

’s Year-End Real Estate M

arket Update features updated statistics and data

for single family hom

es, townhom

es and condo sales for 2017 in the local real estate m

arkets:

• Destin

• Miram

ar Beach• Scenic 30A• N

orth Santa Rosa Beach• Panam

a City Beach

ww

w.N

athanAbbottTeam

.com | 850-812-3256

9657 US H

ighway 98 W

Miram

ar Beach, FL 32550

www.NathanAbbottTeam.com | 850-812-3256

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 336 $686,319 $260 145 96%

2016 317 $622,779 $248 152 95%

Miramar Beach Single Family Homes Sold

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 128 $676,896 $428 160 95%

2016 112 $648,633 $406 233 95%

Miramar Beach Gulf Front Condos/Townhomes Sold

Miramar Beach Gulf front condos had a 4% increase in average price,5% increase in price per sq ft and were on the market 73 days less in 2017.

There were 6% more Miramar Beach single family homes sold in 2017. Average price increased 10% and price per square foot increased 5%.

MIRAMAR BEACH

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 713 $1,362,447 $465 136 96%

2016 625 $1,266,012 $442 138 96%

30A East Single Family Homes Sold

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 50 $881,957 $572 216 95%

2016 65 $992,705 $576 142 95%

30A East Gulf Front Condos/Townhomes Sold

The price per square foot for Gulf front condos sold in the 30A East area remained steady in 2017. Average sales price decreased.

Single family home sales increased in volume by 14%. Average price increased 8% and price per square foot increased 5%.

30A EAST

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 304 $876,312 $336 147 96%

2016 264 $746,217 $309 142 96%

30A West Single Family Homes Sold

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 25 $1,065,520 $497 144 95%

2016 26 $1,217,481 $526 152 95%

30A West Gulf Front Condos/Townhomes Sold

Gulf front condos and townhomes sold in the 30A West area had a decrease in average sales price and price per square foot in 2017.

There were 15% more 30A West single family homes sold in 2017. Average price increased 17% and price per square foot increased 9%.

30A WEST

We are happy to report another successful year for real estate sales along the Emerald Coast. Many areas sales volume increased, some up to 34%! Across the board, price per square foot showed a healthy increase. Average prices also continue to steadily rise.

Looking Forward - 2018 ExpectationsThe National Association of Realtors® 2018 Housing and Economic Forecast predicts that a steadily improving economy, sustained job growth, and rising home buyer confidence should pave the way for an increase in existing home sales.

2017 Year-End Real Estate Update

*All statistics and data obtained through MLS on 1/23/18.

FIND EMERALD COAST REAL ESTATE MARKET UPDATES ONLINE AT www.NathanAbbottTeam.com/Market-Updates

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 452 $616,481 $228 118 96%

2016 441 $584,897 $207 116 96%

Destin Single Family Homes Sold

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 255 $570,649 $365 183 95%

2016 230 $514,111 $347 162 95%

Destin Gulf Front Condos/Townhomes Sold

The number of sales for Gulf front condos and townhomes in Destin increased 11%, the average sold price increased by 11% and price per square foot increased 15% in 2017 vs 2016.

Single family home sales in Destin improved in 2017 with the average sales price 5% higher and price per square foot 5% higher.

DESTIN

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 322 $373,377 $174 95 97%

2016 310 $299,619 $150 93 98%

North Santa Rosa Beach Single Family Homes Sold

Single family homes in Santa Rosa Beach, north of Highway 98, showed a 4% increase in sales volume, a 25% increase in average price and a 16% increase in price per square foot in 2017.

NORTH SANTA ROSA BEACH

Year Qty AverageSale Price

Price perSq Ft

Days on Market

% of List Price

2017 941 $295,532 $252 141 96%

2016 701 $271,563 $238 141 96%

Panama City Beach Gulf Front Condos/Townhomes Sold

Panama City Beach Gulf front condos sold in 2017 had a 34% increase in volume, 9% increase in price and 6% increase in price per square foot.

PANAMA CITY BEACH