2023
Annual Report
FORGOTTEN COAST
B
MARKET REPORT 2021 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
Resilience | a year in review Resilience can be defined as the power or ability of a material to return to its original form or position after being bent or stretched. After the extreme highs of the postpandemic market to the inevitable slowdown during 2023, the Northwest Florida real estate market has certainly proved its ability to withstand unpredictable market conditions such as climbing interest rates while still maintaining value for buyers with average sales prices remaining consistent or even rising in many market sectors. Similarly, our real estate professionals at Berkshire Hathaway HomeServices Beach Properties of Florida have shown an unflappable resilience for navigating changing market conditions while still successfully servicing the needs of both buyers and sellers. Over 900 families were served by our agency in 2023, allowing us to remain at the forefront of real estate sales along the entire stretch of the Northwest Florida coastline from St. George Island to Navarre Beach. In the same vein, the resilience of this unique slice of Florida is proven again and again. While adjusting to ever-increasing full time populations along with the continued steady stream of visitors to our beachside communities, the Northwest Florida coast has continued to thrive, steadily adding new infrastructure, businesses, and services to make life along the Gulf of Mexico better than ever. Anticipating the trajectory of the 2024 real estate market, we foresee a landscape shaped by continued resilience and adaptation. As we delve into the new year, the market is expected to further shift, reflecting an equilibrium between buyers and sellers. With the lessons learned from the challenges of 2023, we anticipate a more stabilized environment, offering opportunities for both buyers and sellers to make informed decisions. The influx of inventory is likely to persist, creating a dynamic market with diverse options for prospective homeowners. While certain areas may exhibit pockets of strength, others may experience increased flexibility, fostering a balanced and sustainable market. Established in 2007 and affiliated with Berkshire Hathaway HomeServices since 2016, our agency became wholly owned by HomeServices of America in 2022. Our brand is built on trust, integrity, stability, and innovation. As an international leader in property sales and promotion, we are well positioned to guide you through any market conditions. Our experienced sales executives are ready to help you achieve the best possible outcome. As we look forward to brokering real estate sales along our coast in the new year, we feel blessed to have served so many extraordinary people in 2023. We eagerly welcome the opportunity to serve you in 2023 and beyond, navigating this resilient real estate landscape together.
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
1
OFFICE LOCATIONS
1 Ft. Walton Beach
Choctawhatchee Bay 331
98
23
5 Destin Sandestin 4 Blue Mountain Beach WaterColor Seaside Seagrove WaterSound Beach Rosemary Beach
Northwest Florida Beaches Internationa Airport
79
6
West Bay
Panama City Beach
Gulf of Mexico 1. destin 151 Regions Way, Suite 4A Destin, FL 32541 850.502.2120
2. watercolor main 28B WaterColor Way Santa Rosa Beach, FL 32459 850.534.3006
3. watercolor crossings 49A WaterColor Way Santa Rosa Beach, FL 32459 850.213.5450
4. watersound beach 6652 E Co Hwy 30A, Ste 110 Watersound, FL 32461 850.213.5150
5. watersound community discovery center 34 Origins Main Street, Suite 101 Watersound, FL 32461 850.213.5170
6. pier park 15750 Panama City Beach Pkwy, #140 Panama City Beach, FL 32413 850.252.4160
7. windmark beach 101 Goodmorning Street Port St. Joe, FL 32456 850.296.3716
8. st. george island 140 West 1st Street, Ste B St. George Island, FL 32328 850.990.0020
al
20
20
231
Tallahassee
Lynn Haven Panama City Tyndall AFB
Mexico Beach
98
71
Apalachicola National Forest
7
WindMark Beach
Port St. Joe
Carrabelle
Apalachicola
Eastpoint
8 Cape San Blas
Apalachicola Bay
St. George Island
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
2023 ACCOLADES
#
1
B R O K E R AG E O N 3 0 A *Tran s ac t i o n s
#1
B R O K E R AG E I N S O U T H WA LTO N *Tran s ac t i o n s
#2
B R O K E R AG E O N S T. G E O R G E I S L A N D + A PA L AC H I C O L A *Tran s ac t i o n s + Vo lu m e
TOP 4
B R O K E R AG E I N PA N A M A C I T Y B E AC H *Tran s ac t i o n s & Vo lu m e
#23
G LO B A L LY
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 N E T W O R K *2 022 G ro s s Co m m is s io n I n co m 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 *A n n u al l y Si n c e 2 0 1 6
4
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
TABLE OF CONTENTS
forgotten coast S T. G E O R G E I S L A N D 8
A PA L AC H I C O L A 1 0
CAPE SAN BLAS 12
P O R T S T. J O E 1 4
M E X I C O B E AC H / S T. J O E B E AC H 1 6
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
FORGOTTEN COAST CAPE SAN BLAS | ST. GEORGE ISLAND
AVERAGE SOLD PRICE
% GROWTH 2014 - 2023
154%
$1,000,000
$800,000
$570,107
$617,147
$672,758
$654,059
$790,518
$1,071,145
$1,246,885
$1,203,200
$200,000
$563,336
$400,000
$489,459
$600,000
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
AVERAGE DAYS ON MARKET
% GROWTH 2014 - 2023
66%
400
300
200
6
218
176
207
356
121
127
64
57
82
0
244
100
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
FORGOTTEN COAST
PRICE PER SQUARE FOOT
% GROWTH 2014 - 2023
124%
$600
$500
$400
$300
$268
$277
$298
$307
$311
$366
$485
$573
$550
$100
$245
$200
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
NUMBER OF SALES
% GROWTH 2014 - 2023
16%
300
250
200
158
155
165
169
144
269
323
261
171
100
147
150
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
7
ST. GEORGE ISLAND
1248 E GULF BEACH DRIVE 8
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
ST. GEORGE ISLAND SINGLE FAMILY HOMES
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2022
120
$153,697,348
$1,280,811
$589
77
95%
2023
88
$114,853,600
$1,305,155
$596
98
95%
PERCENT CHANGE
27%
2%
1%
27%
0%
27%
596 $
589 $
2023
AVERAGE SOLD PRICE PER SQUARE FOOT
2022
25%
2022
2023
1%
95% 2022
95% 2023
0%
AVERAGE DAYS ON MARKET
AVERAGE SOLD PRICE PER SQ. FT.
PERCENTAGE OF LIST PRICE SOLD
AVERAGE SOLD PRICE
88
SOLD VOLUME
120
NUMBER OF SALES
NUMBER OF SALES
YEAR
77 2022
98 2023
27%
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
9
APALACHICOLA
28 7TH STREET 10
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
APALACHICOLA SINGLE FAMILY HOMES
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2022
46
$17,687,505
$384,511
$234
121
94%
2023
42
$15,746,500
$374,917
$253
122
93%
9%
11%
2%
8%
1%
1%
2023
9%
$
42
2022
$
46
NUMBER OF SALES
PERCENT CHANGE
2022
2023
8%
94% 2022
93% 2023
1%
AVERAGE DAYS ON MARKET
AVERAGE SOLD PRICE PER SQ. FT.
PERCENTAGE OF LIST PRICE SOLD
AVERAGE SOLD PRICE
253
SOLD VOLUME
234
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
YEAR
121 2022
122 2023
1%
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
11
CAPE SAN BLAS
952 INDIAN PASS ROAD 12
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
CAPE SAN BLAS SINGLE FAMILY HOMES
141
$171,739,729
$1,218,012
$559
40
97%
2023
83
$90,893,675
$1,202,253
$500
65
95%
PERCENT CHANGE
41%
47%
1%
11%
63%
2%
41%
$
2023
$
2022
2022
2023
11%
97% 2022
95% 2023
2%
AVERAGE DAYS ON MARKET
2022
PERCENTAGE OF LIST PRICE SOLD
% OF LIST PRICE SOLD
500
AVERAGE DAYS ON MARKET
559
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE SOLD PRICE
83
SOLD VOLUME
141
NUMBER OF SALES
NUMBER OF SALES
YEAR
40 2022
65 2023
63%
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
13
PORT ST. JOE
14
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
PORT ST. JOE SINGLE FAMILY HOMES
AVERAGE SOLD PRICE PER SQ. FT.
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2022
112
$39,265,573
$350,585
$233
43
96%
2023
86
$32,446,530
$377,285
$234
63
95%
17%
8%
0%
47%
1%
23%
$
2023
$
2022
AVERAGE SOLD PRICE PER SQUARE FOOT
86
23%
112
NUMBER OF SALES
PERCENT CHANGE
2022
2023
0%
96% 2022
95% 2023
1%
AVERAGE DAYS ON MARKET
AVERAGE SOLD PRICE
PERCENTAGE OF LIST PRICE SOLD
SOLD VOLUME
234
NUMBER OF SALES
233
YEAR
43 2022
63 2023
47%
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
15
MEXICO BEACH | ST. JOE BEACH
8105 HWY 98 STEPHEN TEEKELL PHOTOGRAPHY
16
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
MEXICO BEACH | ST. JOE BEACH SINGLE FAMILY HOMES
AVERAGE DAYS ON MARKET
% OF LIST PRICE SOLD
2022
166
$102,395,361
$616,840
$329
46
93%
2023
217
$136,220,671
$627,745
$323
112
97%
PERCENT CHANGE
31%
2%
2%
143%
5%
31%
323 $
329 $
2023
AVERAGE SOLD PRICE PER SQUARE FOOT
2022
33%
2022
2023
2%
93% 2022
97% 2023
5%
AVERAGE DAYS ON MARKET
AVERAGE SOLD PRICE PER SQ. FT.
PERCENTAGE OF LIST PRICE SOLD
AVERAGE SOLD PRICE
217
SOLD VOLUME
166
NUMBER OF SALES
NUMBER OF SALES
YEAR
46 2022
112 2023
143%
ANNUAL REPORT 2023 | BERKSHIRE HATHAWAY HOMESERVICES BEACH PROPERTIES OF FLORIDA
17
For You
For Life
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Get to know us at BeachPropertiesFLA.com EMERALD COAST | SOUTH WALTON | BAY COUNTY | FORGOTTEN COAST Market data for 2023 as of 1/8/24. Infromation reported is deemed reliable but is not guaranteeed. ©2024 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.