2020 ANNUAL MARKET REPORT
INSPIRE Living along the world’s most beautiful beaches, every day is filled with promise. It seems as though the Gulf of Mexico is an endless source of inspiration for many, bringing with it the courage, clarity and insight to bring about change and find innovative new avenues to explore. Inspiration comes in many forms yet it carries over into every aspect of our lives. What inspires us professionally may give rise to a new change in our mindset that allows other areas of our lives to flourish. In the same regard, and what has happened to so many local residents, is that one trip to the beach inspires us to make our dream coastal lifestyle a reality. As we reflect on the past decade, Inspire was the word that kept coming to mind. People were inspired to move to the coast and the numbers certainly reflect that! Families that only dreamed about living at their favorite beach found an opportunity to work remotely. Early retirement became a reality for couples seeking the warmth of the Florida panhandle. Investment-minded individuals made the decision to invest in rental properties, that would eventually become their full-time home. This swell in population has given rise to influential changes across the board. From design to architecture to the coastal lifestyle we all love here at the beach, there has a dramatic transformation over the past ten years and it’s exciting to witness. We are a collection of inspirations here along the coast - 30A, Destin, Panama City Beach, the Forgotten Coast - and the future looks just as impressive. What inspires you? Is it the sound of crashing waves or the feel of the sugarwhite sand beneath your feet? Is it being able to leave the hustle and bustle of city life behind as you slip on your ‘fancy’ flip flops to wear to dinner? Is it the feeling of joy you experience at seeing your children love the Gulf of Mexico as you do? Or is the solitude of a quiet beach at sunrise as you start another spectacular day here on the coast? Here at Berkshire Hathaway HomeServices Beach Properties of Florida, we find inspiration in our people - our clients, our colleagues and our local communities. We are eternally grateful for the opportunity to live where do and we’re passionate about sharing why our coastal towns are so extraordinary. Let’s make 2021 the year we find your coastal inspiration.
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MARKET REPORT 2020 2018 || BERKSHIRE BERKSHIRE HATHAWAY HATHAWAY HOMESERVICES HOMESERVICES BEACH BEACH PROPERTIES PROPERTIES OF OF FLORIDA FLORIDA
BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA #
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LISTING BROKERAGE ON 30A 2020 *Transactions
TOP 5 LISTING BROKERAGE IN PANAMA CITY BEACH 2020 *Transactions & Volume
TOP 3 BROKERAGE ON THE FORGOTTEN COAST 2020 *Transactions & Volume
TOP 50 BROKERAGE WITHIN BERKSHIRE HATHAWAY HOMESERVICES WORLDWIDE 2016, 2017, 2018, 2019
OVER $1 BILLION IN ANNUAL SALES VOLUME 2020
MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
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BC
BAY COUNTY PANAMA CITY BEACH CONDOS PANAMA CITY BEACH PANAMA CITY BAY COUNTY NEW CONSTRUCTION
PANAMA CITY BEACH CONDOS BC
15625 FRONT BEACH ROAD - UNIT 302
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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
1,764
2019
2020
280,161
$
305,520 2020
2019
$
244
$
266
2019
2020
AVERAGE DAYS ON MARKET
$
1,554
82
87
2019
2020
PERCENTAGE OF LIST PRICE SOLD
AVERAGE PRICE PER SQUARE FOOT
AVERAGE SOLD PRICE
NUMBER OF SALES
PANAMA CITY BEACH CONDOS
97%
97%
2019
2020
14%
9%
9%
6%
0%
MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
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PANAMA CITY BEACH BC
1233 W WATER OAK BEND
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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PERCENTAGE OF LIST PRICE SOLD
AVERAGE DAYS ON MARKET
AVERAGE PRICE PER SQUARE FOOT
AVERAGE SOLD PRICE
NUMBER OF SALES
PANAMA CITY BEACH
$
1,027
1,139
2019
2020
374,668
$
441,294 2020
2019
$
194
$
218
11%
18%
12%
2019
2020
66
68
2019
2020
3%
97%
97%
2019
2020
0%
MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
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PANAMA CITY BC
3745 CEDAR PARK LANE
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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PERCENTAGE OF LIST PRICE SOLD
AVERAGE DAYS ON MARKET
AVERAGE PRICE PER SQUARE FOOT
AVERAGE SOLD PRICE
NUMBER OF SALES
PANAMA CITY
$
1,800
1,998
2019
2020
201,946
$
227,993 2020
2019
$
112
$
125
2019
2020
48
62
2019
2020
97%
97%
2019
2020
11%
13%
12%
29%
0%
MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
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BAY COUNTY NEW CONSTRUCTION NC
SWEETBAY MODEL HOME
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MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PERCENTAGE OF LIST PRICE SOLD
AVERAGE DAYS ON MARKET
AVERAGE PRICE PER SQUARE FOOT
AVERAGE SOLD PRICE
NUMBER OF SALES
BAY COUNTY NEW CONSTRUCTION
$
370
444
2019
2020
311,924
$
315,631 2020
2019
$
159
$
163
2019
2020
44
53
2019
2020
100% 2019
99%
20%
1%
3%
20%
1%
2020
MARKET REPORT 2020 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
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LOCALLY KNOWN. NATIONALLY RECOGNIZED. GLOBALLY RESPECTED.
©2021 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 Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity.