What's Going On in the 30A Real Estate Market?
Are statistics exciting or what? To some, me included, it is like watching grass grow, unless it happens to be about a subject dear to my heart or perhaps my wallet.
Recently there has been a lot of buzz in the area about how the market is going up and the doom and gloom is over. With that in mind I decided it was time to just take a look at the facts and see where things stand.
The area that I am concentrating on is the roughly 18 miles of the Hwy. 30A corridor. I am comparing the first 2 quarters of 2012 to the same period in 2011 (January 1 to June 30th). These numbers were generated from the Emerald Coast Association of Realtors and do not include properties that were handled outside of that format.
These are simply the facts and I will let you draw your own conclusions, but I do have a couple of observations.
It is apparent that sales activity is up as far as single family homes and residential land is concerned. Prices are also up in those 2 categories with 5.6% in price per square foot for homes and 10% for residential land.
Time will tell if these increases are sustainable.
Condominiums are a different matter, while sales have gone down the prices have gone up 7.3%. It's possible sales have been
affected by the financial market.
Condominium mortgages continue to be problematic.
Well, the grass has grown a little since you've been contemplating this information. I hope you find it useful and welcome any suggestions you may have for additional research on this topic that affects all of our wallets.
*Statistics were compiled by Hugh Smith using data provided by the Emerald Coast Association of Realtors.