November 2018 Market Report

Our market refuses to show any form of weakness as year-to-date median pricing continues to stay positive and total sales are up for the year on all fronts. Year-over-year median price barely inched upwards for November on 30A East, fell slightly 30A West and Sandestin/Miramar Beach while jumping significantly in Destin. All in all the numbers show a market that is resilient and thus far I’ve not noticed any palpable hick-ups, buyer nervousness or seller panic even with interest rates on the rise, trade tensions, and the stock market semi-correction. As a matter of fact the stock drop could push more capital into our market as a safer asset haven as we saw early 2000’s here. Buyers are still buying, interest remains high, and inventory remains low.

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.

SNAPSHOT COMPARISON: Year-over-year

30A/Sandestin/Miramar Beach

30A East

• Closed sales rose 33.3%.
• Pending sales fell 33.3%.
• Median sale price is up 0.12%.
• Inventory dropped 13.86%.

30A West

• Closed sales fell 25%.
• Pending sales are down 5.3%.
• Median sale price is down 2.73%.
• Inventory rose 7.89%.

Sandestin/Miramar Beach

• Closed sales are up 4.1%.
• Pending sales are up 13.4%.
• Median sale fell 2.99%.
• Inventory fell 15.72%.

Destin

• Closed sales fell 23.87%.
• Pending sales dropped 1.2%.
• Median sale price rose 11.27%.
• Inventory fell 20.53%.