2021
annual market report
B
MARKET REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
unprecedented | a year in review If one word can characterize the 2021 real estate market along the Northwest Florida Gulf Coast, we choose unprecedented. In a year still filled with much uncertainty and struggle, an unprecedented number of people are finding sanctuary along the Emerald Coast. A nationwide shift in the way we view work and lifestyle has resulted in a surge of interest in finding a place to live, whether part or full time, that feels welcoming and prosperous. Northwest Florida has become just that to many new homeowners. The past year has been an unprecedented year for real estate sales in our area. We experienced the highest priced single-family home to sell on our shores, a gulf front estate in Alys Beach at $16.9 million. Average sales prices soared in the majority of the communities we serve, up by as much as 38%. Average days on market decreased as demand rose higher than supply in many desirable areas. Our brokerage reached a once unimaginable goal, surpassing over $2.1 billion in annual sales volume. As we look ahead for 2022, we believe this unprecedented trend of high demand will continue as indicated in every community along our coast by historically low days on the market. We have not experienced this low of a length of time on the market since we began tracking it in 1993. Adding support to this prediction are the robust sales that the market has already experienced in the first weeks of 2022. Our agents are busy with strong buyer demand, and we continue to find off market opportunities for customers to purchase. With interest rates still favorable for buyers wishing to finance, it is a key time to make educated investment decisions. While we expect some potential headwinds if we do enter a rate-increasing environment, rates are still currently at historical lows and there may never have been a better time to acquire property in our market, provided you plan to hold it for the medium to long term. For those that may be considering selling, to leave the market or to reposition, we always recommend selling into strength. Therefore, due to what we are seeing in the current market conditions, our market has never been more favorable for sellers. As seasoned experts, our agents can help maximize the sale of your property. Now more than ever, having a trusted and knowledgeable real estate agent representing your best interests whether you are buying or selling property is essential. Established in 2007 to be a premier real estate company dedicated to extraordinary customer service, our agency became an affiliate of the Berkshire Hathaway HomeServices network in 2016 and wholly owned by HomeServices of America in 2022. Our brand is built on trust, integrity, stability, and innovation, and our customers benefit by being part of a firm that is an international leader in the sales and promotion of its properties. We look forward to another strong year for real estate sales along our coast and feel so blessed to have worked with all the incredible people that we encountered in 2021. We welcome the opportunity to serve you in 2022 and beyond.
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
1
office locations 1 Ft. Walton Beach
Choctawhatchee Bay 331
98
23
Destin Sandestin 4 Blue Mountain Beach WaterColor Seaside Seagrove WaterSound Beach Rosemary Beach
Northwest Florida Beaches Internationa Airport
79
Panama City Beach
2
1. destin
5. pier park
151 Regions Way, Suite 4A Destin, FL 32541 850.502.2120
15750 Panama City Beach Pkwy, #140 Panama City Beach, FL 32413 850.252.4160
2. watercolor main
6. port st. joe
28B WaterColor Way Santa Rosa Beach, FL 32459 850.534.3006
200 A Reid Ave Port St. Joe, FL 32456 850.227.3300
3. watercolor crossings
7. windmark beach
49A WaterColor Way Santa Rosa Beach, FL 32459 850.213.5450
101 Goodmorning Street Port St. Joe, FL 32456 850.296.3716
4. watersound beach
8. st. george island
6652 E Co Hwy 30A, Ste 110 WaterSound, FL 32461 850.213.5150
140 West 1st Street, Ste B St. George Island, FL 32328 850.927.6000
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
5
West Bay
al
20
20
231
Tallahassee
Lynn Haven Panama City Tyndall AFB
Mexico Beach
98
71
Apalachicola National Forest
6
Windmark Beach
7 Port St. Joe
Carrabelle
Apalachicola
Eastpoint
8 Cape San Blas
Gulf of Mexico
Apalachicola Bay
St. George Island
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
3
2021 ACCOLADES
$2,131,251,941 2 0 2 1 C O M PA N Y S A L E S V O LU M E
#
1
B R O K E R AG E O N 3 0 A * T r a nsa c tio ns
TOP 6
B R O K E R AG E I N PA N A M A C I T Y B E AC H * T r a nsa c tio ns + Vo l um e
#
1
B R O K E R AG E O N S T. G E O R G E I S L A N D * T r a nsa c tio ns + Vo l um e
TOP 3
B R O K E R AG E O N T H E F O R G OT T E N C OA S T * T r a nsa c tio ns + Vo l um e
TOP 50
B R O K E R AG E W I T H I N B E R K S H I R E H AT H AWAY H O M E S E R V I C E S 2 0 1 6 , 2 0 1 7, 2 0 1 8 , 2 0 1 9, 2 0 2 0, 2 0 2 1 * Gr o ss Co mm i ssi o n I n co m e
4
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
TABLE OF CONTENTS
forgotten coast A PA L AC H I C O L A 8 S T. G E O R G E I S L A N D 1 0 CAPE SAN BLAS 12 M E X I C O B E AC H / S T. J O E B E AC H 1 4 P O R T S T. J O E 1 6
FORGOTTEN COAST
AVERAGE SOLD PRICE
111%
% GROWTH 2012 - 2021
$1,000,000
$800,000
$419K
$406K
$406K
$465,543
$461,768
$501,198
$554,233
$488,123
$619,490
$882,747
$600,000
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
$400,000
$200,000
AVERAGE DAYS ON MARKET
79%
% GROWTH 2012 - 2021
400
300
200
6
250
212
202
173
183
255
108
114
56
0
263
100
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
FORGOTTEN COAST
PRICE PER SQUARE FOOT
110%
% GROWTH 2012 - 2021
$400
$350
$300
$250
$200
$215
$233
$241
$258
$279
$250
$300
$409
$150
$195
$200
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
NUMBER OF SALES
121%
% GROWTH 2012 - 2021
500
400
300
226
231
239
245
266
264
268
441
458
100
207
200
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
7
APALACHICOLA
264 HIGHWAY 98 8
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
APALACHICOLA SINGLE FAMILY HOMES
YEAR
NUMBER OF SALES
SOLD VOLUME
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2020
49
$14,307,008
$291,980
$172
101
92%
2021
49
$14,812,253
$302,291
$205
131
93%
PERCENT CHANGE
19%
4%
4%
0%
1%
30%
0%
2021
19%
92% 2020
93% 2021
1%
AVERAGE DAYS ON MARKET
2020
PERCENTAGE OF LIST PRICE SOLD
205 $
172
2021
$
49
2020
AVERAGE SOLD PRICE PER SQUARE FOOT
49
NUMBER OF SALES
This quaint, coastal town has shown a much more slow and steady growth year over year, making Apalachicola potentially a great place to buy in 2022!
101 2020
131 2021
30%
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
9
ST. GEORGE ISLAND
1426 E GULF BEACH DRIVE 10
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
ST. GEORGE ISLAND SINGLE FAMILY HOMES
YEAR
NUMBER OF SALES
SOLD VOLUME
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2020
143
$119,983,304
$839,044
$361
143
90%
2021
149
$172,883,784
$1,160,294
$503
73
96%
PERCENT CHANGE
39%
38%
44%
4%
6%
49%
4%
2021
39%
90% 2020
96% 2021
6%
AVERAGE DAYS ON MARKET
2020
PERCENTAGE OF LIST PRICE SOLD
503 $
361
2021
$
149
2020
AVERAGE SOLD PRICE PER SQUARE FOOT
143
NUMBER OF SALES
2021 brought tremendous growth in average prices for the Island! We expect to see similar growth in 2022. St. George Island offers exceptional value and a relaxed lifestyle especially when compared to the 30A market.
143 2020
73 2021
49%
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
11
CAPE SAN BLAS
105 E SEASCAPE DRIVE 12
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
CAPE SAN BLAS SINGLE FAMILY HOMES
YEAR
NUMBER OF SALES
SOLD VOLUME
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2020
64
$46,387,898
$724,811
$386
89
97%
2021
155
$154,087,200
$994,111
$463
62
97%
37%
20%
PERCENT CHANGE
232%
142%
0%
30%
142%
2021
20%
97% 2020
97% 2021
0%
AVERAGE DAYS ON MARKET
2020
PERCENTAGE OF LIST PRICE SOLD
463 $
386
2021
$
155
2020
AVERAGE SOLD PRICE PER SQUARE FOOT
64
NUMBER OF SALES
The Cape has seen strong, steady growth over the last few years. With considerable value and very low inventory, interested home buyers must act quickly when they see the right property come to market.
89 2020
62 2021
30%
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
13
MEXICO BEACH | ST. JOE BEACH
9305 HIGHWAY 98 W 14
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
MEXICO BEACH | ST. JOE BEACH SINGLE FAMILY HOMES
YEAR
NUMBER OF SALES
SOLD VOLUME
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2020
187
$71,746,853
$383,673
$207
93
97%
2021
154
$77,327,148
$502,124
$266
35
98%
PERCENT CHANGE
29%
31%
8%
18%
1%
62%
18%
2021
29%
97% 2020
98% 2021
1%
AVERAGE DAYS ON MARKET
2020
PERCENTAGE OF LIST PRICE SOLD
266 $
207
2021
$
154
2020
AVERAGE SOLD PRICE PER SQUARE FOOT
187
NUMBER OF SALES
2021 brought nice growth for Mexico Beach with all of the rebuilding taking place since Hurricane Michael. This beach town is definitely one to watch in 2022!
93 2020
35 2021
62%
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
15
PORT ST. JOE
808 MARVIN AVENUE 16
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PORT ST. JOE SINGLE FAMILY HOMES
YEAR
NUMBER OF SALES
SOLD VOLUME
AVERAGE SOLD PRICE
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2020
303
$124,961,399
$412,414
$215
93
96%
2021
123
$36,862,534
$299,695
$185
54
97%
PERCENT CHANGE
14%
27%
71%
59%
1%
42%
59%
2021
14%
96% 2020
97% 2021
1%
AVERAGE DAYS ON MARKET
2020
PERCENTAGE OF LIST PRICE SOLD
185 $
215
2021
$
123
2020
AVERAGE SOLD PRICE PER SQUARE FOOT
303
NUMBER OF SALES
The real estate market in Port St. Joe proper has struggled a bit since Hurricane Michael, but provides unique value that we don’t see in many other communities.
93 2020
54 2021
42%
ANNUAL REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
17
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Get to know us at BeachPropertiesFLA.com EMERALD COAST | SOUTH WALTON | BAY COUNTY | FORGOTTEN COAST Market data for 2022 as of 1/6/22. Information reported is deemed reliable but is not guaranteed. ©2022 MLS and FBS. ©2022 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a 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.
