LOCAL HOME PRICES ARE BEGINNING TO SLOW DOWN TOO

Dated: December 1 2021

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Nationally “Annually Adjusted Home Appreciation Rates” have slowed to 19.5%, locally it’s a different story.

Real Estate is local, so much so that I felt it necessary to break out the specific markets that I sell property in. As a buyer or a seller, it is vital that you understand what is going on in the area you are considering buying or selling in and adjust accordingly. The graph below shows the numbers of units Pending & Sold.

30% annual appreciation in Point Washington is not an anomaly, it is cause & affect, St Joe has done it again with Watersound Origins, a full time residential community located north of Highway 98 near the eastern intersection of 30A & Highway 98. This is a beautifully designed PUD (Planned Unit Development) offering first rate construction by some  of our areas finest builders. Homes today are selling in the $500,000 to $1,600,000 range, there is a retirement community under construction as are a number of townhome communities. There is a new Publix shopping center under construction at the entrance to Watersound Origins with room for more retail.

Point Washington was known to be a laid back destination with average selling prices in the mid-$400’s, Watersound Origins average selling price is actually more than 30% higher with average selling price in the $800,000’s, with 150 new homes under construction.

Interesting observation is Miramar Beach’s 11% appreciation, home to communities like Sandestin Beach Resort, Tops’l Beach Resort, Hidden Dunes, Caribe, Ariel Dunes, Frangista Beach, Maravilla and may other respected neighborhoods, one must ponder the reason why, maybe it’s  the age of these properties, most were developed in the 80’s and early 90’s, maybe people like new, better organized settings & amenities.

2021 continues to be a banner year for sales and continues to break previous year’s transactions. This information was done my me, myself & I, today and the data comes from the Emerald Coast Association of Realtors Multiple Listing Service for homes, townhomes & condos located in Destin, Miramar Beach, Point Washington, Santa Rosa Beach (including 30A) and Inlet Beach.

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Richard Eimers

I have been a Florida Licensed Realtor for over 26 years, have SOLD more than $750,000,000 worth of every kind of real estate from Destin to 30A and West Panama City Beach. With over 26 years of real....

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