Although evaluating the real estate market is never easy, there appears to be some good news for Seacrest homeowners and those who want to buy in the area. It is no secret that home prices in Seacrest have been on the decline for several years. Today, however, prices seem to be stabilizing. From 2007 through 2010, the average price of a home in Seacrest decreased nearly thirty percent. Yet from 2010 to 2011, the price per square foot of Seacrest homes fell only four dollars, or less than two percent.
Happy 2012!? To kick off the New Year, I would like to offer an overview of Rosemary Beach home sales from 1999 to the present.
The unique Rosemary Beach community is off to a wonderful start with seven properties sold. Sales prices ranged from $268-$657 per sq. ft.
Slowly the vision begins to take shape.
Data from 2007 to 2010 indicates that the average price per square foot of a home in Seacrest dropped dramatically. However, prices appear to be stabilizing once again as the average price looks to have increased slightly in 2011 for Seacrest Beach Real Estate. While the data over the past two years indicates a drop in the number of homes sold in Seacrest, the average price per square foot appears to have leveled off. After a number of years in which the price of homes in Seacrest has dropped
As the long, lazy days of summer end and vacationers pack their bags to return home, a wonderful sign of life and vitality is returning to South Walton. Home sales seem to be improving. Comparing August home sales numbers for the area from 2000 to 2011, last month showed record sales. The figures are second only to the same period in 2004. Sales comparisons are from the Emerald Coast Association of Realtors.
Some potential home buyers continue to wait when the market declines hoping for better deals right before the next upturn. It is always difficult to predict a market turn, and those people may miss a great buying opportunity. Other buyers are taking advantage of the current low prices, and those good buying opportunities quickly disappear.
Residential property sales in Rosemary Beach are positively sizzling, much like a typical summer day in the balmy south. The $23,383,333 worth of sales occurring during the month of July alone reflect a volume greater than that registered in the whole of 2006, 2008 and 2009, respectively, and vaulted the month's figures far beyond the prior dollar volume record for Rosemary Beach properties, registered back in August 2004. Three of the July transactions were for Gulf-front residences, though two of them represented cash deals. It is truly telling, and quite astounding that sales in Rosemary Beach alone accounted for roughly a third of the nearly $75 million sales tally for South Walton in its entirety.
In 2010, 38 residential properties in Rosemary Beach were sold, making it the second best sales year in history, based on statistics provided by the Emerald Coast Association of Realtors (ECAR). By July 30 of this year, ECAR data indicate that 23 properties had already been sold, totaling $53.6 million. 2010 saw full-year sales volume on residential properties in Rosemary Beach totaling $43.7 million. That figure has already been shattered with five months yet remaining in 2011.