Breaking Down the Numbers: 30A's Real Estate Market at a Glance
As we near the end of 2024, the real estate market along 30A delivered both opportunities and adjustments. With increased listing activity and a slight dip in median home prices, buyers found more options to explore. At the same time, sellers navigated longer market times and adapted to changing buyer expectations.
Our findings indicate that despite these shifts, the luxury market remains resilient. Whether you're considering buying or selling, understanding these trends and their implications is key to making informed decisions in a dynamic market.
We've put together October numbers to provide a snapshot of our real estate landscape along 30A. By focusing on the numbers from October, we can provide a clearer and more balanced view of the real estate market because this time of year typically reflects a shift from the heightened activity of summer.
October 2024: By the Numbers
- Active Listings: There were 1,186 residential properties (homes, condos, and townhouses) on the market, reflecting a nearly 25% increase from October 2023.
- Listing Price: The median price dropped 4% year-over-year to $1,675,000, indicating a slight softening.
- Most Expensive Home: A stunning four-story Gulf-front home in Seagrove Beach topped the charts at $26,500,000.
- Price Reductions: Of the 54 homes sold, 25 saw price adjustments, just 2% more than the previous year—a sign of sellers adapting to a shifting market.
- Days on Market (DOM): Sold homes averaged 77 days on the market, up 28 days from 2023.
Key Takeaways
The theme of 2024 has been stabilization. While listings and DOM are on the rise, a few key areas remain unchanged:
- Median sales prices are steady at $1,700,000.
- Price reductions for homes sold hovered at 6%, consistent with last year.
- All-cash sales accounted for 50% of transactions in both 2023 and 2024, underscoring the strength of high-net-worth buyers in the 30A market.
Interestingly, while the average DOM increased, a significant 30% of homes sold within 30 days or less—proving that homes priced correctly for the market still attract swift offers.
Why Pricing and Strategy Matter
Strategically pricing your property is more critical than ever in a competitive and evolving market. With deep local knowledge and access to real-time data, our team specializes in providing a customized approach to meet your goals, whether buying or selling along 30A.
Ready to Make Your Move?
When it comes to choosing a real estate firm, we know you have many to choose from. That's why we focus on delivering results grounded in experience, trust, and unparalleled market insights. Whether you're navigating your first transaction or expanding your investment portfolio, our team is here to guide you every step of the way.
Don't let questions about rates or trends prevent you from achieving your real estate goals. Reach out today, and let's start the conversation about your next big move.
Market data sourced from the Emerald Coast Association of Realtors and Metro Market Trends (MMT). The information we provided is believed to be accurate but not guaranteed. We recommend consulting customized market data tailored to your property and circumstances before making real estate decisions.