30A Real Estate
The 30A Real Estate Market
30A Real Estate Market of Rosemary Beach, Alys Beach, Watersound, Seagrove, Seaside, and Watercolor Markets Summer Warming but also Cooling? It seems the 30A East real estate market is moderating…a bit. This is a good thing I believe. The past 3-4 years have already been quite a run and price increases can only maintain a sizzling pace so long before burning out, or at least cooling. I prefer to see the current market as a cooling effect which quite frankly is healthy. Considering lending continues to be conservative into the foreseeable future the combination of slowing price increases with money getting into the hands of buyers who can actually afford it bodes well for a strong and steady market moving forward. I believe this is what we want and what is good in contrast to the swings that got us into trouble during the 2007 bubble. List prices continue to move upwards aggressively yet average sale price year-over-year is below 1% and median has dropped 6.68%. One can only assume sellers will need to lower their asking price or negotiate with buyers less aggressively moving forward as the market catches up to them. Average days on market dropped 16.67 illustrating that sellers are possibly negotiating a bit more than usual to sell to move property faster yet total closed and pending sales dropped year-over-year 2014-2015 so total sales volume is moderating. Active and new listings decreased year-over-year as well so it seems less potential sellers are motivated to get in at the moment. One note however is that year-to-date the market still shows strength because of prior consecutive strong months. It’s been a great year as have the previous three years. This of course is only one month so let’s see what happens in July and moving forward!