Q3 2023 MARKET REPORT
48 PARADISE BY THE SEA BOULEVARD $7,990,000 · PARADISE BY THE SEA
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STATE OF THE MARKET SUMMARY
NOTABLE SALES
LUXURY LISTINGS
pages 4-5
pages 6-13
pages 14-21
30A MARKET Inlet Beach | Rosemary Beach | Alys Beach Seacrest | Watersound | Seagrove | Seaside WaterColor | Grayton Beach | Blue Mountain | Dune Allen 30A GULF FRONT MARKET pages 22-35
DESTIN MARKET
MIRAMAR BEACH & SANDESTIN MARKET
PANAMA CITY BEACH MARKET
pages 36-37
pages 38-39
pages 40-41
MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES
MARKET OVERVIEW CONDOMINIUMS
page 42
page 43
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The number of sales slowed in the third quarter of 2023 with the number of detached single-family home sales decreasing from 488 in the second quarter to 414. However, in comparison to Quarter 3 of last year, the average price per square foot increased by 13 percent for detached single-family homes. Most notably, the average price per square foot drastically increased in Seaside and WaterSound Beach. The average sales price of gulf-front detached singlefamily homes on Scenic 30A continued its upward trajectory between Q2 and Q3 from roughly $7 Million to $7.7 Million. Taking a closer look at the price per square foot comparison between this time last year indicates an increase for gulf-front detached single-family homes and condos alike. In the current state of the market, having an experienced and knowledgeable real estate advisor to help you find your ideal property is truly invaluable.
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107 GOLFRIDGE DRIVE SOLD FOR $5,300,000 · WATERSOUND CAMP CREEK page 6
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337 S BRIDGE LANE # 313B SOLD FOR $3,100,000 · WATERSOUND BEACH
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16 KIRKWOOD PLACE SOLD FOR $7,650,000 · INLET BEACH page 10
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219 E SHALLOWS DRIVE SOLD FOR $2,370,000 · POINT WASHINGTON page 12
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16 S. BARRETT SQUARE UNIT 3 $8,875,000 · ROSEMARY BEACH
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63 BOATHOUSE ROAD $4,499,999 · DRAPER LAKE COASTAL VILLAGE page 16
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361 WALTON ROSE LANE $3,499,000 · BARBERY COAST INLET BEACH page 18
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375 DEFUNIAK STREET $4,995,000 · GRAYTON BEACH page 20
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INLET BEACH DETACHED SINGLE FAMILY HOMES UP 4% NUMBER OF SALES 23 Q3 2022
23 Q3 2023
AVERAGE PRICE PER SQ. FT. $716 Q3 2022
AVERAGE DAYS ON MARKET 32 Q3 2022
109 Q3 2023
$744 Q3 2023
AVERAGE SALES PRICE $2,410,505 Q3 2022
$2,190,580 Q3 2023
LIST PRICE TO SALES PRICE RATIO 100% Q3 2022
95% Q3 2023 page 23
ROSEMARY BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 9 Q3 2022
8 Q3 2023
AVERAGE PRICE PER SQ. FT. $1,968 Q3 2022
AVERAGE DAYS ON MARKET 7 Q3 2022 page 24
64 Q3 2023
$1,836 Q3 2023
AVERAGE SALES PRICE $6,902,222 Q3 2022
LIST PRICE TO SALES PRICE RATIO 97% Q3 2022
95% Q3 2023
$4,896,875 Q3 2023
ALYS BEACH DETACHED SINGLE FAMILY HOMES UP 43%
UP 9%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
7 Q3 2022
10 Q3 2023
$1,972 Q3 2022
AVERAGE DAYS ON MARKET 7 Q3 2022
32 Q3 2023
$2,140 Q3 2023
AVERAGE SALES PRICE $8,675,789 Q3 2022
$7,615,500 Q3 2023
LIST PRICE TO SALES PRICE RATIO 98% Q3 2022
98% Q3 2023 page 25
SEACREST BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 25 Q3 2022
20 Q3 2023
UP 10%
UP 9%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$862 Q3 2022
AVERAGE DAYS ON MARKET 55 Q3 2022 page 26
72 Q3 2023
$946 Q3 2023
$2,434,200 Q3 2022
LIST PRICE TO SALES PRICE RATIO 94% Q3 2022
95% Q3 2023
$2,657,900 Q3 2023
WATERSOUND BEACH DETACHED SINGLE FAMILY HOMES UP 30%
UP 35%
UP 22%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
10 Q3 2022
13 Q3 2023
$1,023 Q3 2022
AVERAGE DAYS ON MARKET 15 Q3 2022
78 Q3 2023
$1,379 Q3 2023
$3,535,700 Q3 2022
$4,313,461 Q3 2023
LIST PRICE TO SALES PRICE RATIO 96% Q3 2022
95% Q3 2023 page 27
SEAGROVE BEACH DETACHED SINGLE FAMILY HOMES NUMBER OF SALES 24 Q3 2022
28 Q3 2023
AVERAGE PRICE PER SQ. FT. $902 Q3 2022
AVERAGE DAYS ON MARKET 46 Q3 2022 page 28
57 Q3 2023
$787 Q3 2023
AVERAGE SALES PRICE $2,482,083 Q3 2022
LIST PRICE TO SALES PRICE RATIO 95% Q3 2022
94% Q3 2023
$2,131,458 Q3 2023
SEASIDE DETACHED SINGLE FAMILY HOMES UP 150%
UP 97%
UP 26%
NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
2 Q3 2022
5 Q3 2023
$1,559 Q3 2022
DOWN 59% AVERAGE DAYS ON MARKET 49 Q3 2022
20 Q3 2023
$3,078 Q3 2023
$4,579,500 Q3 2022
$5,750,000 Q3 2023
UP 6% LIST PRICE TO SALES PRICE RATIO 92% Q3 2022
98% Q3 2023 page 29
WATERCOLOR DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 14 Q3 2022
14 Q3 2023
UP 6%
UP 14%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$1,088 Q3 2022
AVERAGE DAYS ON MARKET 35 Q3 2022 page 30
111 Q3 2023
$1,148 Q3 2023
$3,389,214 Q3 2022
UP 1% LIST PRICE TO SALES PRICE RATIO 95% Q3 2022
96% Q3 2023
$3,866,071 Q3 2023
GRAYTON BEACH DETACHED SINGLE FAMILY HOMES UP 11% NUMBER OF SALES 4 Q3 2022
4 Q3 2023
AVERAGE PRICE PER SQ. FT. $991 Q3 2022
AVERAGE DAYS ON MARKET 70 Q3 2022
128 Q3 2023
$833 Q3 2023
AVERAGE SALES PRICE $2,694,250 Q3 2022
$2,979,625 Q3 2023
LIST PRICE TO SALES PRICE RATIO 96% Q3 2022
93% Q3 2023 page 31
BLUE MOUNTAIN BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 40 Q3 2022
35 Q3 2023
UP 2%
UP 23%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$650 Q3 2022
AVERAGE DAYS ON MARKET 37 Q3 2022 page 32
72 Q3 2023
$665 Q3 2023
$1,480,107 Q3 2022
UP 4% LIST PRICE TO SALES PRICE RATIO 92% Q3 2022
95% Q3 2023
$1,823,881 Q3 2023
DUNE ALLEN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 38 Q3 2022
25 Q3 2023
AVERAGE PRICE PER SQ. FT. $609 Q3 2022
AVERAGE DAYS ON MARKET 55 Q3 2022
61 Q3 2023
$512 Q3 2023
AVERAGE SALES PRICE $1,719,719 Q3 2022
$1,364,244 Q3 2023
LIST PRICE TO SALES PRICE RATIO 99% Q3 2022
96% Q3 2023 page 33
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30A GULF FRONT DETACHED SINGLE FAMILY HOMES UP 19% NUMBER OF SALES 8 Q3 2022
12 Q3 2023
AVERAGE PRICE PER SQ. FT. $2,357 Q3 2022
$2,810 Q3 2023
AVERAGE DAYS ON MARKET 34 Q3 2022
AVERAGE SALES PRICE $10,215,625 Q3 2022
$7,715,916 Q3 2023
LIST PRICE TO SALES PRICE RATIO
63 Q3 2023
95% Q3 2022
95% Q3 2023
CONDOMINIUMS
NUMBER OF SALES 25 Q3 2022
20 Q3 2023
UP 10%
UP 27%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$1,117 Q3 2022
AVERAGE DAYS ON MARKET 38 Q3 2022
49 Q3 2023
$1,227 Q3 2023
$1,684,644 Q3 2022
$2,134,300 Q3 2023
LIST PRICE TO SALES PRICE RATIO 97% Q3 2022
96% Q3 2023 page 35
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DESTIN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 101 Q3 2022
74 Q3 2023
AVERAGE PRICE PER SQ. FT. $438 Q3 2022
$426 Q3 2023
$1,287,979 Q3 2022
$1,198,784 Q3 2023
UP 1% LIST PRICE TO SALES PRICE RATIO
AVERAGE DAYS ON MARKET 37 Q3 2022
AVERAGE SALES PRICE
55 Q3 2023
95% Q3 2022
96% Q3 2023
CONDOMINIUMS
NUMBER OF SALES 168 Q3 2022
118 Q3 2023
UP 3%
UP 8%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$539 Q3 2022
AVERAGE DAYS ON MARKET 51 Q3 2022
80 Q3 2023
$554 Q3 2023
$694,253 Q3 2022
$751,289 Q3 2023
LIST PRICE TO SALES PRICE RATIO 98% Q3 2022
97% Q3 2023 page 37
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MIRAMAR BEACH & SANDESTIN DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 64 Q3 2022
63 Q3 2023
UP 2%
UP 8%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$530 Q3 2022
$541 Q3 2023
AVERAGE DAYS ON MARKET 26 Q3 2022
$1,456,670 Q3 2022
$1,568,048 Q3 2023
LIST PRICE TO SALES PRICE RATIO
88 Q3 2023
97% Q3 2022
96% Q3 2023
CONDOMINIUMS
NUMBER OF SALES 162 Q3 2022
121 Q3 2023
UP 2%
UP 4%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$465 Q3 2022
AVERAGE DAYS ON MARKET 38 Q3 2022
65 Q3 2023
$472 Q3 2023
$582,578 Q3 2022
$604,661 Q3 2023
LIST PRICE TO SALES PRICE RATIO 97% Q3 2022
97% Q3 2023 page 39
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PANAMA CITY BEACH DETACHED SINGLE FAMILY HOMES
NUMBER OF SALES 103 Q3 2022
92 Q3 2023
UP 12%
UP 30%
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
$373 Q3 2022
AVERAGE DAYS ON MARKET 31 Q3 2022
51 Q3 2023
$417 Q3 2023
$747,358 Q3 2022
$971,228 Q3 2022
LIST PRICE TO SALES PRICE RATIO 98% Q3 2022
97% Q3 2023
CONDOMINIUMS
NUMBER OF SALES 109 Q3 2022
99 Q3 2023
AVERAGE PRICE PER SQ. FT. $462 Q3 2022
AVERAGE DAYS ON MARKET 40 Q3 2022
69 Q3 2023
$422 Q3 2023
AVERAGE SALES PRICE $544,190 Q3 2022
$542,678 Q3 2022
LIST PRICE TO SALES PRICE RATIO 97% Q3 2022
96% Q3 2023 page 41
DETACHED SINGLE FAMILY HOMES UP 13% NUMBER OF SALES
AVERAGE PRICE PER SQ. FT.
AVERAGE SALES PRICE
464 Q3 2022
$977 Q3 2022
$3,128,235 Q3 2022
414 Q3 2023
AVERAGE DAYS ON MARKET 36 Q3 2022 page 42
71 Q3 2023
$1,104 Q3 2023
LIST PRICE TO SALES PRICE RATIO 96% Q3 2022
96% Q3 2023
$3,094,833 Q3 2023
CONDOS NUMBER OF SALES 439 Q3 2022
338 Q3 2023
AVERAGE PRICE PER SQ. FT. $489 Q3 2022
$483 Q3 2023 UP 4%
AVERAGE SALES PRICE $607,007 Q3 2022
$632,876 Q3 2023
AVERAGE DAYS ON MARKET 43 Q3 2022
71 Q3 2023
LIST PRICE TO SALES PRICE RATIO 97% Q3 2022
97% Q3 2023 page 43