MARKET REPORT | 2018
Gratitude. Looking back on 2018, the recurring theme of our year-end discussions was that of gratitude. Some may find that surprising in the aftermath of Hurricane Michael, so let us explain. We serve the areas that bravely faced Hurricane Michael, the most catastrophic storm to hit Northwest Florida. The panhandle is known for its small towns and Southern hospitality; we are a close-knit community and together, we have felt this storm’s impact each and every day. We feel shock and disbelief when seeing the extent of the storm’s reach. We feel humbled attending a standing room only workship service in a severely damaged church. We feel hopeful when we see Christmas lights and decorations in Mexico Beach. We feel proud to be a part of these exceptional communities where hope shines so brightly. Our gratitude is limitless. Gratitude for those who have bravely kept our communities safe; those who have selflessly served the needs of others; those who have tirelessly worked to bring normalcy back to these beautiful towns; and for those who are passionate and unwavering in their resolve to restore and rebuild our beloved communities. There is joy. There is hope. There is a great sense of anticipation as we begin to conceptualize what comes next. The future of Northwest Florida has opportunities without limits and we are embarking on a new and exciting chapter for our beloved panhandle that will strengthen and connect us like never before. We are honored to call this slice of heaven home. Many of us have called it home for a lifetime and it is home to us in every sense of the word. We are grateful for the privilege of serving you and we’re excited to welcome you home to our resilient, vibrant and extraordinary Gulf Coast.
Hunter Harman
Price Rainer
John David Sullivan
BROKER/OWNER
OWNER
OWNER
CUSTOMER FOCUSED RESPECT COLLABORATORS INTEGRITY PROFESSIONALISM ENTHUSIASM DEDICATION SUCCESSFUL RESULTS COMMITMENT TO INNOVATION
4
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
#
1
TEAM ON THE FORGOTTEN COAST 2018 *Volume
TOP 3 BROKERAGE ON THE FORGOTTEN COAST 2018 *Volume
#
1
BROKERAGE ON 30A 2018 *Number of Transactions
TOP 10 BROKERAGE IN BAY COUNTY 2018 *Volume
TOP 50 BROKERAGE WITHIN BERKSHIRE HATHAWAY HOMESERVICES 2016 & 2017 *Gross Commission Income
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
5
HOW’S THE MARKET? In demand. Looking at this past year’s data we’ve seen a continuation of several trends. Across all Gulf Coast markets, demand for housing is high. Residential properties are selling quickly and many times with multiple offers on the table. The demand for housing exceeds supply and with that, price points continue to rise. The turn-key readiness of a home is more appealing to buyers, but properties requiring improvement still command competitive prices but may sit longer on the market. Premium homes, fixer-uppers and houses sustaining damage are all in demand across the coast. We have carefully analyzed trends across the entire Gulf Coast and have outlined these results for you in our 2018 market review. This analysis shows key metrics for our markets, but you may have additional questions about specific communities, properties and projections for the coming year. For more than a decade, we’ve helped families buy and sell property across the Florida Panhandle and would be honored to assist you with your real estate needs.
#GOODTOKNOW AVERAGE SOLD PRICE : The average sold price of a property. PRICE PER SQUARE FOOT : The average sold price per square foot. AVERAGE DAYS ON MARKET : An average of a property’s cumulative days on the market prior to its sale. NUMBER OF SALES : Total number of residential home sales.
All reporting is based on sales data for Residential, Detached Single Family properties. New construction data is based on homes built between 2017-2018 and sold in 2018. All information is deemed to be reliable, but is not guaranteed.
FORGOTTEN COAST AVERAGE SOLD PRICE
AVERAGE DAYS ON MARKET
8
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
FORGOTTEN COAST PRICE PER SQUARE FOOT
NUMBER OF SALES
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
9
FC
FORGOTTEN COAST APALACHICOLA ST. GEORGE ISLAND CAPE SAN BLAS MEXICO BEACH / ST. JOE BEACH PORT ST. JOE
APALACHICOLA FC
40 NORTH MYRTLE STREET
12
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
APALACHICOLA
15
16
8
11
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
318,435
$
285,053
$
204,125
$
285,409
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
168
$
$
171
$
140
$
100
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
Q1 2018
Q2 2018
Q3 2018
Q4 2018
102
186
72
276
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
ON MARKET
ON MARKET
ON MARKET
ON MARKET
Q1 2018
Q2 2018
Q3 2018
Q4 2018
94%
98%
93%
88%
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
Q1 2018
Q2 2018
Q3 2018
Q4 2018
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
13
ST. GEORGE ISLAND FC
1328 ACACIA DRIVE
14
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
ST. GEORGE ISLAND
31
29
26
18
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
729,316
$
562,294
$
775,807
$
500,713
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
310
$
266
$
316
$
206
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
Q1 2018
Q2 2018
Q3 2018
Q4 2018
172
123
191
197
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
ON MARKET
ON MARKET
ON MARKET
ON MARKET
Q1 2018
Q2 2018
Q3 2018
Q4 2018
93%
94%
94%
89%
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
Q1 2018
Q2 2018
Q3 2018
Q4 2018
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
15
CAPE SAN BLAS FC
2648 INDIAN PASS ROAD
16
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
CAPE SAN BLAS
20
22
18
11
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
574,738
$
693,609
$
718,055
$
689,520
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
295
$
320
$
373
$
158
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
Q1 2018
Q2 2018
Q3 2018
Q4 2018
139
100
119
206
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
ON MARKET
ON MARKET
ON MARKET
ON MARKET
Q1 2018
Q2 2018
Q3 2018
Q4 2018
94%
96%
96%
94%
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
Q1 2018
Q2 2018
Q3 2018
Q4 2018
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
17
MEXICO BEACH FC
244 WATERMARK WAY
18
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
MEXICO BEACH | ST. JOE BEACH
19
37
35
10
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
416,987
$
343,767
$
316,985
$
324,891
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
260
$
237
$
220
$
146
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
Q1 2018
Q2 2018
Q3 2018
Q4 2018
67
82
60
146
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
ON MARKET
ON MARKET
ON MARKET
ON MARKET
Q1 2018
Q2 2018
Q3 2018
Q4 2018
98%
97%
97%
97%
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
Q1 2018
Q2 2018
Q3 2018
Q4 2018
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
19
PORT ST. JOE FC
1292 COUNTRY CLUB ROAD
20
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PORT ST. JOE
25
37
25
17
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
NUMBER OF SALES
Q1 2018
Q2 2018
Q3 2018
Q4 2018
$
204,140
$
222,385
$
184,796
$
170,765
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
140
$
$
141
$
130
$
82
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
AVERAGE PRICE PER
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
SQUARE FOOT
Q1 2018
Q2 2018
Q3 2018
Q4 2018
58
47
70
94
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
AVERAGE DAYS
ON MARKET
ON MARKET
ON MARKET
ON MARKET
Q1 2018
Q2 2018
Q3 2018
Q4 2018
98%
96%
95%
89%
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
PERCENTAGE OF
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
LIST PRICE SOLD
Q1 2018
Q2 2018
Q3 2018
Q4 2018
MARKET REPORT 2018 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
21
LOCALLY KNOWN. NATIONALLY RECOGNIZED. GLOBALLY RESPECTED.
140 West 1st Street, St. George Island, FL 32328 200 Reid Avenue, Port St. Joe, FL 32456 www.SGI.BeachPropertiesFLA.com ©2019 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.