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OUR LOCAL REAL ESTATE ECONOMY BUY THE NUMBERS

Monday, March 4, 2024   /   by Richard Eimers

OUR LOCAL REAL ESTATE ECONOMY BUY THE NUMBERS

By Richard Eimers, January 4, 2024

Real estate markets are like living organisms, constantly evolving and responding to various stimuli. In the case of Destin, Miramar Beach, Santa Rosa Beach, 30A, and Inlet Beach, the local real estate economy has shown remarkable resilience and vitality, as depicted by the insightful graphs provided. Let's delve into these numbers and uncover the fascinating story they tell about our region's real estate landscape.
 
In the vast and dynamic world of real estate, understanding market trends is paramount for both buyers and sellers. By dissecting the data presented in the provided graphs, we can gain valuable insights into the performance of our local real estate market during the specified period. Buckle up as we navigate through the intricacies of active listings, pending sales, sold properties, and price dynamics to grasp the pulse of our real estate economy.
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Article Outline

Introduction

  • Introducing the local real estate economy in Destin, Miramar Beach, Santa Rosa Beach, 30A, and Inlet Beach.
  • Highlighting the significance of analyzing real estate market trends.
  • Previewing the key insights from the provided graphs.

Understanding the Graphs

Active and New Listings Comparison

  • Explaining the significance of active and new listings data.
  • Analyzing the trends in active and new listings for January and February.
  • Comparing year-over-year sales activity to assess market dynamics.

Post-COVID Recovery

Inventory Trends

  • Analyzing the impact of COVID lockdowns on real estate inventory.
  • Highlighting the surge in inventory post-lockdown and subsequent trends.
  • Comparing current inventory levels to pre-COVID levels.

Pending and Sold Properties

  • Examining the similarities and differences in pending and sold properties pre and post-COVID.
  • Discussing the implications of rising new listings amidst consistent pending and sold property numbers.

Price Dynamics

Average Sales Price

  • Tracing the trajectory of average sales prices since January 2015.
  • Discussing factors contributing to the consistent increase in property prices.

Impact of Interest Rates

  • Analyzing the effect of high interest rates on pending and sold sales.
  • Exploring the relationship between interest rates and declining sales volume.

Conclusion

  • Summarizing the key findings from the analysis of the provided graphs.
  • Emphasizing the resilience of the local real estate market despite challenges.
  • Highlighting the importance of monitoring market trends for informed decision-making.

OUR LOCAL REAL ESTATE ECONOMY BY THE NUMBERS

Active and New Listings Pending and Sold Properties Price Dynamics
Post-COVID Recovery

OUR LOCAL REAL ESTATE ECONOMY BY THE NUMBERS

Real estate markets are like living organisms, constantly evolving and responding to various stimuli. In the case of Destin, Miramar Beach, Santa Rosa Beach, 30A, and Inlet Beach, the local real estate economy has shown remarkable resilience and vitality, as depicted by the insightful graphs provided. Let's delve into these numbers and uncover the fascinating story they tell about our region's real estate landscape.

Introduction

In the vast and dynamic world of real estate, understanding market trends is paramount for both buyers and sellers. By dissecting the data presented in the provided graphs, we can gain valuable insights into the performance of our local real estate market during the specified period. Buckle up as we navigate through the intricacies of active listings, pending sales, sold properties, and price dynamics to grasp the pulse of our real estate economy.

Understanding the Graphs

Active and New Listings Comparison

The first set of graphs provides a snapshot of active and new listings, shedding light on the inventory dynamics in our local market. Active listings represent properties available for sale, while new listings indicate recently added properties. By analyzing these figures for January and February and comparing them year over year, we can discern trends that shape the market's supply side.

Post-COVID Recovery

Inventory Trends

The aftermath of the COVID-19 pandemic had a profound impact on various industries, including real estate. The graph illustrates a noticeable spike in inventory immediately following the relaxation of COVID restrictions. Since the dawn of 2022, our region has witnessed a steady but gradual increase in inventory, culminating in the highest inventory levels recorded in the past five years. A comparative analysis reveals that the current inventory surpasses pre-COVID levels by a significant margin, signifying a robust recovery in the real estate sector.

Pending and Sold Properties

Despite the lingering effects of COVID and other external factors such as high-interest rates and historically low inventory levels, the numbers of pending and sold properties have remained resilient. Interestingly, while the figures for pending and sold properties pre and post-COVID exhibit similarity, the surge in new listings indicates a heightened level of market activity. This suggests a healthy influx of supply to meet the demand, contributing to the market's equilibrium.

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Price Dynamics

Average Sales Price

The trajectory of average sales prices offers valuable insights into the appreciation of property values over time. Since January 2015, our region has experienced a consistent increase in average sales prices, underscoring the attractiveness and desirability of properties in Destin, Miramar Beach, Santa Rosa Beach, 30A, and Inlet Beach. Factors such as location appeal, amenities, and market demand contribute to this upward trend, making real estate investment a lucrative endeavor in our locale.


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Impact of Interest Rates
However, the market's buoyancy faces challenges in the form of high-interest rates, which exert downward pressure on sales volume. The correlation between interest rates and declining sales volume is evident, as illustrated by the graphs. The Federal Reserve's decision to raise interest rates has dampened buying activity, resulting in a significant reduction in the annual sold volume compared to just two years ago. This underscores the delicate balance between market forces and macroeconomic policies that shape the real estate landscape.

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In conclusion, the provided graphs offer a comprehensive overview of our local real estate economy's performance, encapsulating its resilience, recovery, and challenges. Despite the disruptive effects of COVID-19, high-interest rates, and inventory fluctuations, Destin, Miramar Beach, Santa Rosa Beach, 30A, and Inlet Beach real estate markets have demonstrated remarkable vitality and adaptability. By staying informed about market trends and dynamics, stakeholders can make informed decisions and navigate the ever-changing landscape with confidence.

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Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

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