|Welcome to another review of market activity in the 30A, Destin, and Miramar Beach/Sandestin areas.
The U.S. economy beat expectations by 2%, growing 3.2% in the first quarter of 2019. The Fed’s announcement that it would not raise interest rates in the foreseeable future of this year has put a clamp on interest rates and bonds, benefiting buyers, and lifting the stock market to a record high. Unemployment is at a 49 year low (when Vince Lombardi was last coaching the Green Bay Packers). As for China, we shall see, but as of now, all of this is supporting real estate on the Emerald Coast of Florida and there really isn’t any news on the horizon that should negatively effect that trend.
30A East closed sales jumped 2.2% YOY (year-over-year), while the median price rose 32.33%. Inventory is up 8.75% to 8.45 months meaning inventory is rising with more sellers coming to market. This should ease pricing a bit if the trend continues.
30A West closed sales fell 28.3% YOY with median price jumping 19.83%. Inventory is up a whopping 39.1% with 9.1 months.
Miramar Beach/Sandestin closed sales rose 9.9% YOY with median price down 5.94% and inventory falling 20.89% to 6.02 months.
Destin closed sales are up 3.7% YOY, median price fell 2.90%, and inventory is up 2.32% to 6.18 months.
Below you’ll find more detailed numbers in your favorite areas and planned communities.
As always, our goal in sharing this data with you is to create a better understanding of trends, local and the broader economy, affecting our unique housing market. We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the 30A, Destin, Miramar Beach/Sandestin market, please do not hesitate to reach out to me at 850-376-3269. We love talking real estate!