|It’s looking like another good, steady year in real estate for 30A, Destin and Miramar Beach/Destin areas. All of the details are below for each area including the major planned communities but in essence the data tells me that prices continue to escalate on a moderate, sustainable scale, inventory is still low limiting buyer choices and propping up prices, and generally closed sales numbers are equal year-over-year compared to 2017 other than 30A East where closed sales dropped significantly, and 30A West where closed sales jumped significantly. I’m wondering if there is a shift towards the West end of 30A where prices are lower and the pace, slower. Miramar Beach and Destin continue to show strength in both price and closed sales.Interest rates have jumped quite a bit as the Fed eases QE and increases the borrowing rate while the stock market shows volatility in spades. As many sales in this area are cash the borrowing rate shouldn’t impact us too much but it is in fact a good time to move forward on a purchase if financing because although rates are up, they are still very low but who knows how long that will last. It may also be a great time to divert some asset risk from stocks to real estate.
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