Emerald Coast Real Estate Market – 2015 Year in Review

According to the National Association of Realtors, 2016 shows the housing market beginning to stabilize. On a national level, the real estate market experienced one of its best years in nearly a decade. Existing home sales for 2015 saw an increase of 6.5% from the previous year. The national median price for home sales in 2015 was close to $221,200 – up 6% over 2014.

We are happy to report the Emerald Coast real estate market trends steadily increasing in sales volume and pricing as well. 2015 median prices on sold homes increased across the panhandle in Northwest Florida with an average of $472,259 – well above the national average. Homes are selling at an average of 96% of list price, which shows how important it is to have an experienced real estate professional price your home wisely to get you top dollar in the quickest amount of time.

Please review the statistics we’ve pulled from the Emerald Coast Association of Realtors for specific areas along the coast in our region.  Starting on Okaloosa Island to the West through Panama City Beach to the East, our local market is positively increasing strong!

Okaloosa Island

In 2015, Gulf front condos & townhomes on Okaloosa Island in Fort Walton Beach showed a 17.3% increase in median price, a 5% increase in average sold price and properties are selling for $16 more per square foot compared to 2014. Over the past two years, properties are selling consistently at 95% of list price. Click here to read more about Okaloosa Island.

Okaloosa Island Gulf Front Condos & Townhomes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

150

$266,000

$304,178

$257

217

95%

2015

133

$312,000

$319,404

$273

242

95%

Destin

2015 sales of Gulf front condos and townhomes in Destin decreased slightly in volume compared to 2014, yet the median sold price increased by $5,000 and price per square foot increased 3.8%, $12 more a foot. Single family home (no s) sales in Destin increased across the board in 2015 with both the median and average sold price up by 14%. The price per square foot increased by $11 over the prior year as well. The sold volume was nearly $220 Million! Click here to read more about Destin.

Destin Gulf Front Condos & Townhomes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

199

$355,000

$461,012

$320

159

93%

2015

410

$391,000

$536,204

$196

140

96%

Destin Single Family Homes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

383

$343,000

$470,619

$185

121

96%

2015

408

$391,000

$536,798

$196

139

96%

Miramar Beach

For single family homes in Miramar Beach, the number of closed sales improved by 8.2%, with the median sold price increasing 4.6%. Homes were selling over $11,000 more on average than 2014 and at 96% of list price. Click here to read more about Miramar Beach.

Miramar Beach Gulf Front Condos & Townhomes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

117

$485,500

$658,936

$390

271

94%

2015

125

$520,000

$613,886

$394

176

95%

Miramar Beach Single Family Homes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

279

$435,000

$598,449

$239

123

95%

2015

302

$455,500

$609,941

$237

133

96%

30A

Real estate all along 30A experienced an increase in sales in 2015. Gulf front condos and townhomes saw a 12% increase in the number of closed sales over 2014. The average price sold had a tremendous increase of 25.5% with condos & townhomes selling for $508 per square foot – an increase of 13.9%. Single family homes along 30A shared similar increases of 14.3% in closed sales, increased median prices of $30k and average prices up over $80k in 2015 versus 2014. On average, properties sold for $28 more per square foot in 2015. Click here to read more about 30A.

30A Gulf Front Condos & Townhomes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

92

$770,000

$797,839

$446

214

93%

2015

103

$888,000

$1,001,681

$508

165

95%

30A Single Family Homes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

777

$640,000

$945,777

$355

155

96%

2015

888

$670,000

$1,026,549

$383

159

96%

North Santa Rosa Beach

Sales for single family homes in North Santa Rosa Beach remained stable in 2015 with home prices increasing 5.1% over 2014. For the past two years, homes are selling at 98% of list price, which is higher than any other area of our coastline! Click here to read more about North Santa Rosa Beach.

NSRB Single Family Homes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

297

$239,900

$260,186

$128

93

98%

2015

293

$245,000

$273,497

$135

104

98%

Panama City Beach

Panama City Beach Gulf front condo and townhome sales volume increased by 12.1% in 2015, with the median price of sales at an increase of $10k over 2014. Click here to read more about Panama City Beach.

PCB Gulf Front Condos & Townhomes Sold

Year

Qty

Median $

Average $

$ Sq Ft

Days on Mkt

Sales/List

2014

729

$235,000

$252,350

$217

133

95%

2015

816

$245,000

$252,430

$218

136

95%

Now is a great time to purchase or sell real estate in our area.  We have access to all properties for sale and systems that provide instant updates the day a property hits the market.

If you considering selling, contact The Nathan Abbott Team for a free market analysis. We are your trusted real estate advisors long Northwest Florida’s Gulf Coast and would be honored to serve you. Click here to view our current available listings or call us at 850-583-5678.

Welcome Snowbirds!

It’s that time of year again when the Emerald Coast plays host to the annual migrating flocks of Snowbirds! Yes, those lucky folks who have perfected not only how to survive winter, but how to live it to the fullest along our Gulf coast of Northwest Florida. These snowbirds bring a plethora of life to our coastal economy after the seasonal tourists have all gone home. They not only keep our rental properties booked, but also boost sales among our local restaurants, retail shops, golf resorts, and entertainment establishments. So “welcome” snowbirds!  ResortQuest is sponsoring The Winter Guest Fest, Thursday January 15th 8 am – noon at the Emerald Coast Convention Center.

snowbirds-sThere are snowbird clubs all along our Emerald Coast that offer something for everyone! These clubs are the go-to places for fellowship and valuable information about the area. Fort Walton Beach has a snowbird club of over 700 members and offers activities and events to include crafts, cards, games, golf and social events. Check out www.fwbsbc.com for more information. Destin also has a snowbird club of over 2,000 members which offers a more extensive list of activities to include everything from basketball, billiards and bowling, to computer clubs, crafts and cruises, to casino trips, cards and quilting, to dances, dinners, golf and more. Visit their website at www.destinsnowbirds.org for a full list of activities. And not to be outdone, Walton County has their own club of over 2,000 members that offers a similar list of activities for our winter visitors. You can peruse their website at www.waltoncountysnowbirds.com for their information.

Of course if peace and solitude is more your idea of the perfect winter get-a-way, the Emerald Coast offers that as well. Our beautiful white beaches are sparsely populated this time of year – perfect for a walk or for sitting on a blanket with a good book while listening to the waves breaking to relax your soul. This is a great time to consider buying or selling real estate along the Emerald Coast as well – to either purchase your own “go-to” destination for your winter get-a-way or permanent home, or for investment rental/vacation property potential please contact the Nathan Abbott Team for more information on Emerald Coast real estate!

We hope our Winter is a great time for all!

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Emerald Coast Toys for Tots

indexAR-151039963.jpgThe Nathan Abbott Team was honored to be a drop off location for The Emerald Coast Toys for Tots again this year. The outpouring of toys from our friends, neighbors, clients and business associates was astounding! We collected toys at our office in Miramar Beach and last week at an open house we hosted at one of our listings, a beautiful waterfront estate at 1780 Driftwood Point Road in Santa Rosa Beach. Since 2003, the Emerald Coast Association of Realtors, under the coordination of Ashley Botelho, has partnered with the Marine Corps League Detachment 915 and U.S. Marine Corp Toys for Tots program. Already to date, 10,215 children in Okaloosa and Walton counties alone will be receiving a toy this Christmas, who might not otherwise.

Even though our toy drop off deadline is past, it’s not too late to donate toys. Give Ashley Botelho-Jones a call at 850-533-6219 or click here to make an online donation.

Shelter House 5K/9K Luminaria Run

shelter houseWith the season of thankfulness and giving upon us, the Nathan Abbott Team at ResortQuest encourages our community to join us in supporting Shelter House by sponsoring, running, and/or fundraising for the 5th Annual Luminaria 5K/9K Run on Saturday, December 5th, 2015, at 4:30 p.m. We are proud to be Platinum Sponsors of the Luminaria Run benefiting Shelter House, Inc with Amanda Abbott & Stacie Boudreaux, both Real Estate Agents with the Nathan Abbott Team, entering the run. The courses start at Bubba Gump Shrimp & Co. at 14059 Emerald Coast Parkway. in Destin, that is lined with more than 2,000 luminaries, symbolizing how Shelter House and community partners light the way to a safer place for victims of domestic and sexual violence. The Luminaria Run hopes to achieve its fundraising goal of $15,000! To register, sponsor or make a donation, please click here.

Shelter House, Inc. is the only certified domestic and sexual violence center serving Okaloosa and Walton counties. The non-profit center provides support in the way of shelter, intervention and primary prevention programs to the community through education, awareness and advocating for social change. The supportive environment works to make every survivor feel safe, empowered and confident. All services provided are free and confidential. Contact Shelter House at info@shelterhousenwfl.org. They also offer a 24-hour Hotline:  850-863-4777.

Regatta Bay Presents Newly Constructed Golf Villas

RB-2Regatta Bay presents the beautiful and newly constructed Golf Villas.  This luxury gated community located in the heart of Destin is the place to call home. Regatta Bay neighbors to Destin Commons, a premier open-air mall and lifestyle center, which includes several restaurants as well as an ultra modern theater with 14 auditoriums. Regatta Bay is situated on approximately 120 acres of protected woodlands and lakes, and is certified by Audubon International as a member of the Audubon Cooperative Sanctuary System. 2Regatta Bay also features a championship 18-hole golf course, named by Golf Digest’s “Top 200 Places to Play in North America,” along with tennis courts, pool, playground, and a 16,000 sq. ft. clubhouse with its own luxury restaurant. Regatta Bay entices home buyers to “Live, Shop, Dine, Play,…Never Leave Regatta Bay!”

Click here to watch a video and learn more about Regatta Bay. 

Please search available properties in Regatta Bay by clicking here or contact us at 850-460-2900 to learn more about Regatta Bay and the Destin real estate market.

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