Q1 2023 | MARKET REPORT
3253 BURNT PINE COVE OFFERED AT $7,699,999
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TABLE OF CONTENTS
STATE OF THE MARKET SUMMARY
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NOTABLE SALES
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30A MARKET STATS
Inlet Beach | Rosemary Beach | Alys Beach
LUXURY LISTINGS
pages 14-21
Seacrest | Watersound | Seagrove | Seaside
WaterColor | Grayton Beach | Blue Mountain | Dune Allen
30A GULF FRONT MARKET STATS
pages 22-35
DESTIN MARKET STATS
pages 36-37
MIRAMAR BEACH & SANDESTIN MARKET STATS
pages 38-39
OVERALL MARKET STATS
DETACHED SINGLE FAMILY HOMES
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PANAMA CITY BEACH MARKET STATS
pages 40-41
OVERALL MARKET STATS CONDOMINIUMS
page 43
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STATE OF THE MARKET
With sales picking back up at the start of the year, Q1 2023 saw one over-arching
The luxury community of Alys Beach saw the largest climb in average sales price
The number of transactions has continued its decline in comparison to Q1 2022, quarter has been the massive increase in value of Gulf front condos with sales Quarter 2, we expect prices to remain stable. There is certainly a possibility of dependent on interest rates.
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over-arching trend: an increase in price per square foot in nearly every market. price by 55 percent with the average moving from $4,451,804 to $6,880,000. 2022, with Seaside showing no sales for Q1 2023. Another notable increase in this prices increasing by 59% to a $3.2 Million average sales price. Moving into an increase in buying power on the horizon, however, that is largely
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NOTABLE Q1 SALES
LOT 5 E CO HWY 30A
SOLD FOR $6,000,000 IN INLET BEACH
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59 GREEN STREET SOLD FOR $11,000,000 IN INLET BEACH
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LOT 2 LAKE BREEZE WAY SOLD FOR $1,647,500 IN BANNERMAN BEACH
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149 GARFIELD STREET SOLD FOR $2,050,000 IN GRAYTON BEACH
LUXURY LISTINGS
38 THISTLE LANE OFFERED AT $2,995,000 IN DRAPER LAKE
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72 BRIDGE WATER LANE OFFERED AT $5,595,000 IN WATERSOUND BEACH
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337 S BRIDGE LANE # 313B OFFERED
AT
$3,480,000 IN WATERSOUND BEACH
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145 ACACIA STREET OFFERED AT $3,200,000 IN GULFVIEW HEIGHTS page 21
Q1 2023 MARKET STATS
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INLET BEACH page 23 NUMBER OF SALES 26 Q1 2022 19 Q1 2023 AVERAGE PRICE PER SQ. FT. $587 Q1 2022 $506 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 23 Q1 2022 47 Q1 2023 LIST PRICE TO SALES PRICE RATIO 96% Q1 2022 101% Q1 2023 DETACHED SINGLE FAMILY HOMES $2,231,038 Q1 2022 $1,387,776 Q1 2023
ROSEMARY BEACH page 24 NUMBER OF SALES 18 Q1 2022 3 Q1 2023 AVERAGE PRICE PER SQ. FT. $1,236 Q1 2022 $1,742 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 88 Q1 2022 10 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 96% Q1 2023 DETACHED SINGLE FAMILY HOMES $4,482,000 Q1 2022 $4,281,666 Q1 2023 UP 41% DOWN 89%
page 25 NUMBER OF SALES 6 Q1 2022 2 Q1 2023 AVERAGE PRICE PER SQ. FT. $1,328 Q1 2022 $1,860 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 2 Q1 2022 77 Q1 2023 LIST PRICE TO SALES PRICE RATIO 103% Q1 2022 92% Q1 2023 DETACHED SINGLE FAMILY HOMES $4,451,804 Q1 2022 $6,880,000 Q1 2023 UP 40% UP 55%
ALYS BEACH
SEACREST page 26 NUMBER OF SALES 45 Q1 2022 19 Q1 2023 AVERAGE PRICE PER SQ. FT. $767 Q1 2022 $840 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 50 Q1 2022 60 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 95% Q1 2023 DETACHED SINGLE FAMILY HOMES $2,275,444 Q1 2022 $3,136,301 Q1 2023 UP 10% UP 38%
WATERSOUND BEACH page 27 NUMBER OF SALES 23 Q1 2022 13 Q1 2023 AVERAGE PRICE PER SQ. FT. $851 Q1 2022 $992 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 59 Q1 2022 92 Q1 2023 LIST PRICE TO SALES PRICE RATIO 97% Q1 2022 96% Q1 2023 DETACHED SINGLE FAMILY HOMES $2,966,260 Q1 2022 $3,419,615 Q1 2023 UP 15% UP 17%
SEAGROVE page 28 NUMBER OF SALES 50 Q1 2022 22 Q1 2023 AVERAGE PRICE PER SQ. FT. $795 Q1 2022 $898 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 71 Q1 2022 83 Q1 2023 LIST PRICE TO SALES PRICE RATIO 97% Q1 2022 91% Q1 2023 DETACHED SINGLE FAMILY HOMES $2,605,250 Q1 2022 $2,846,586 Q1 2023 UP 13% UP 9%
SEASIDE page 29 NUMBER OF SALES 4 Q1 2022 0 Q1 2023 AVERAGE PRICE PER SQ. FT. $2,005 Q1 2022 $0 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 11 Q1 2022 0 Q1 2023 LIST PRICE TO SALES PRICE RATIO 100% Q1 2022 0% Q1 2023 DETACHED SINGLE FAMILY HOMES $3,512,500 Q1 2022 $0 Q1 2023
WATERCOLOR page 30 NUMBER OF SALES 19 Q1 2022 9 Q1 2023 AVERAGE PRICE PER SQ. FT. $1,009 Q1 2022 $1,045 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 50 Q1 2022 83 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 97% Q1 2023 DETACHED SINGLE FAMILY HOMES $3,370,857 Q1 2022 $3,303,055 Q1 2023 UP 4%
page 31 NUMBER OF SALES 6 Q1 2022 4 Q1 2023 AVERAGE PRICE PER SQ. FT. $735 Q1 2022 $1,096 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 31 Q1 2022 13 Q1 2023 LIST PRICE TO SALES PRICE RATIO 94% Q1 2022 90% Q1 2023 DETACHED SINGLE FAMILY HOMES $1,984,999 Q1 2022 $2,062,500 Q1 2023 UP 49% UP 4% DOWN 58%
GRAYTON BEACH
BLUE MOUNTAIN BEACH
page 32 NUMBER OF SALES 65 Q1 2022 33 Q1 2023 AVERAGE PRICE PER SQ. FT. $634 Q1 2022 $641 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 48 Q1 2022 78 Q1 2023 LIST PRICE TO SALES PRICE RATIO 99% Q1 2022 96% Q1 2023 DETACHED SINGLE FAMILY HOMES $1,640,458 Q1 2022 $1,620,666 Q1 2023 UP 1%
DUNE ALLEN page 33 NUMBER OF SALES 80 Q1 2022 29 Q1 2023 AVERAGE PRICE PER SQ. FT. $491 Q1 2022 $611 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 59 Q1 2022 90 Q1 2023 LIST PRICE TO SALES PRICE RATIO 99% Q1 2022 96% Q1 2023 DETACHED SINGLE FAMILY HOMES $1,390,042 Q1 2022 $1,582,581 Q1 2023 UP 24% UP 14%
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NUMBER OF SALES 13 Q1 2022 6 Q1 2023 AVERAGE PRICE PER SQ. FT. $1,976 Q1 2022 $2,133 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 34 Q1 2022 91 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 88% Q1 2023 DETACHED SINGLE FAMILY HOMES $10,016,153 Q1 2022 $9,616,666 Q1 2023 UP 8%
30A GULF FRONT
page 35 NUMBER OF SALES 24 Q1 2022 17 Q1 2023 AVERAGE PRICE PER SQ. FT. $1,089 Q1 2022 $1,710 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 46 Q1 2022 55 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 98% Q1 2023 CONDOMINIUMS $2,048,854 Q1 2022 $3,248,159 Q1 2023 UP 57% UP59%
DESTIN NUMBER OF SALES 121 Q1 2022 76 Q1 2023 AVERAGE PRICE PER SQ. FT. $430 Q1 2022 $444 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 41 Q1 2022 65 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 95% Q1 2023 DETACHED SINGLE FAMILY HOMES $1,296,667 Q1 2022 $1,187,890 Q1 2023 UP 3% page 36
NUMBER OF SALES 226 Q1 2022 127 Q1 2023 AVERAGE PRICE PER SQ. FT. $449 Q1 2022 $535 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 47 Q1 2022 88 Q1 2023 LIST PRICE TO SALES PRICE RATIO 99% Q1 2022 97% Q1 2023 CONDOMINIUMS $563,835 Q1 2022 $714,223 Q1 2023 UP 19% UP 27% page 37
MIRAMAR BEACH & SANDESTIN
NUMBER OF SALES 122 Q1 2022 72 Q1 2023 AVERAGE PRICE PER SQ. FT. $475 Q1 2022 $516 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 37 Q1 2022 92 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 95% Q1 2023 DETACHED SINGLE FAMILY HOMES $1,313,623 Q1 2022 $1,569,969 Q1 2023 UP 9% UP 20% page 38
NUMBER OF SALES 280 Q1 2022 132 Q1 2023 AVERAGE PRICE PER SQ. FT. $495 Q1 2022 $555 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 48 Q1 2022 71 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 96% Q1 2023 CONDOMINIUMS $588,339 Q1 2022 $751,935 Q1 2023 UP 12% UP 28% page 39
PANAMA
BEACH NUMBER OF SALES 81 Q1 2022 84 Q1 2023 AVERAGE PRICE PER SQ. FT. $346 Q1 2022 $394 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 36 Q1 2022 71 Q1 2023 LIST PRICE TO SALES PRICE RATIO 99% Q1 2022 97% Q1 2023 DETACHED SINGLE FAMILY HOMES $710,382 Q1 2022 $857,598 Q1 2023 UP 14% page 40 UP 21%
CITY
NUMBER OF SALES 166 Q1 2022 106 Q1 2023 AVERAGE PRICE PER SQ. FT. $408 Q1 2022 $436 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 45 Q1 2022 75 Q1 2023 LIST PRICE TO SALES PRICE RATIO 100% Q1 2022 97% Q1 2023 CONDOMINIUMS $464,283 Q1 2022 $545,754 Q1 2023 UP 7% UP 18% page 41
DETACHED SINGLE FAMILY HOMES NUMBER OF SALES 666 Q1 2022 385 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 43 Q1 2022 62 Q1 2023 LIST PRICE TO SALES PRICE RATIO 98% Q1 2022 88% Q1 2023 $835 Q1 2022 $828 Q1 2023 $2,445,095 Q1 2022 $2,438,300 Q1 2023 AVERAGE PRICE PER SQ. FT. page 42
OVERALL Q1 MARKET
CONDOS NUMBER OF SALES 672 Q1 2022 365 Q1 2023 AVERAGE SALES PRICE AVERAGE DAYS ON MARKET 47 Q1 2022 78 Q1 2023 LIST PRICE TO SALES PRICE RATIO 99% Q1 2022 96% Q1 2023 $451 Q1 2022 $509 Q1 2023 $538,819 Q1 2022 $670,637 Q1 2023 AVERAGE PRICE PER SQ. FT. UP 13% UP 24% page 43
OVERALL Q1 MARKET STATS
