Our 30A Real Estate Market: Are We Back to Pre-Recession Prices?
by Bruce Johnson
on Tuesday, September 20th, 2016 at 1:17pm.
A recent article from the National Association of Realtors stated many of the National "HOT” Markets, such as San Francisco and New York have rebounded from the last recession and prices are back to pre-recession levels. This spurred me to find out how our communities of South Walton compare!
I primarily focus on the Emerald Coast real estate market, particularly the communities of Santa Rosa Beach, Scenic 30A and Southern Walton County. In analyzing these areas, I have compiled historical data using both our local Multiple Listing Service (MLS) and statistics from Metro Market Trends, which allows me access to accurate and up-to-date data, including public records.
A History of Exponential Growth
Over the last 25 years we have seen exponential growth in the real estate markets of both Scenic 30A and Miramar/Sandestin area — a long standing and more mature market. Below is a look back at the growth of these real estate markets since 1991. Miramar/Sandestin sales prices increased 256%, or an average increase of 5% per year. Scenic 30A was a smaller market in 1991 and not the powerhouse it has turned into today. Sales prices increased 861%, or an average increase of 9.5% per year.
That means that Scenic 30A sales volume is good and a growth rate of 9.5% yearly is a stable and sustainable market. It’s a good time to buy in South Walton!
Are you currently thinking of selling? As with many things in life - timing is everything! Contact Davis Properties Online or call 850-231-2025 for a complimentary evaluation of your property and surrounding neighborhood. We'll gladly provide the tools, market info and guidance to help determine what timing is right for you.