The Q4 2024 Market Report

Page 1


STATE OF THE MARKET SUMMARY

NOTABLE SALES LUXURY LISTINGS

pages 4-5 pages 6-13 pages 14-21

30A MARKET BREAKDOWN

Inlet Beach | Rosemary Beach | Alys Beach

Seacrest | Watersound Beach | Seagrove | Seaside WaterColor | Grayton Beach | Blue Mountain | Dune Allen

30A GULF FRONT MARKET

30A MARKET OVERALL

pages 22-37

DESTIN MARKET MIRAMAR BEACH & SANDESTIN MARKET PANAMA CITY BEACH MARKET

pages 38-39 pages 40-41 pages 42-43

MARKET OVERVIEW DETACHED SINGLE FAMILY HOMES

MARKET OVERVIEW CONDOMINIUMS

page 44 page 45

In the final quarter of 2024, the number of detached single-family home sales in the overall market showed only a 1 percent increase compared to the previous year. However, along Scenic 30A, multiple communities showed a drastic increase in the number of sales, with Rosemary Beach showing a 100 percent increase. Regarding average sales price, several communities on 30A saw a notable increase, with primarily East 30A communities leading the charge.

While Destin and Panama City Beach detached single-family home sales prices trended downward, Miramar Beach & Sandestin showed increases in the number of sales, average sales price, and price per square foot. Additionally, Miramar Beach & Sandestin were the only of those three locations to show a positive change in the average sales price of condos.

In 2025, the real estate market is expected to see streamlined zoning policies, tax incentives, and pro-development measures boosting suburban housing and residential projects, with demand driven by affordability, remote work trends, and low interest rates. Investors will benefit from favorable tax policies and incentives, while infrastructure improvements and affordable housing initiatives are set to enhance growth in suburban and underdeveloped areas, driving property values and homeownership opportunities.

295 GOLF RIDGE DRIVE SOLD FOR $4,990,000  •  WATERSOUND CAMP CREEK

43 POMPANO STREET SOLD FOR $4,990,000  •  INLET BEACH

55 POMPANO STREET SOLD FOR $4,895,000  •  INLET BEACH

WOODWARD DRIVE
SANTA ROSA BEACH

Woodward Drive is a modern beach oasis to be constructed near the sought-after 30A, with breathtaking coastal vistas that will leave you amazed.

The impressive 6-bedroom, 6-bathroom house has been meticulously designed with careful attention to detail throughout.

As you step inside, you'll be greeted by a vision of elegance and sophistication. The interior is adorned with custom white cabinetry and crisp white walls, creating a modern and timeless aesthetic that is both chic and refined.

The open plan living room and dining room are bathed in natural light and offer incredible panoramic views that will take your breath away.

LOUVA LANE
SANTA ROSA BEACH

Welcome to "Louva Shack," a stunning 7-bedroom, 2-bunk space, 9-bathroom luxury retreat designed to host up to 27 guests.

This spacious property features a gourmet kitchen, expansive living areas, arcade games, custom-built bunk beds, and an elevator for easy access. Outdoor living shines with a heated pool, hot tub, built-in grill, beverage fridge, and poolside TV for ultimate relaxation and entertainment.

Located in the heart of Gulf Place, you’re just a short walk from popular dining spots like Shunk Gulley and Pecan Jacks, boutique shopping, and the convenient Ed Walline Public Beach Access with parking, showers, and bathrooms.

Blending comfort, style, and prime location, this home is the ultimate destination for unforgettable beach getaways.

Welcome to your dream gulf-front townhouse located on the coveted 30A, where luxury meets the beauty of nature! This fully remodeled gem boasts stunning views and direct access to the pristine sugar-white sands.

The spacious master bedroom offers a serene retreat, complete with floor-to-ceiling windows that frame breathtaking sunsets over the Gulf. Enjoy the convenience of an en suite bath, featuring elegant finishes and modern amenities. An inviting loft space provides additional room for a children's retreat. Throughout the home, you'll find thoughtful upgrades that enhance both style and functionality, from high-end appliances in the gourmet kitchen to tasteful decor in the open-concept living areas.

Whether you're sipping coffee on the balcony or enjoying a stroll on the beach, this townhouse is the perfect blend of luxury and coastal charm. Experience the ultimate beachfront lifestyle!

333 Lakewood Drive ''Seagrove Palace'' has achieved an impressive $245,123.77 in its inaugural year on the market!

Newly introduced to the rental scene in 2024, this non HOA home generated rental income surpassing many long-established competitors. Looking ahead, 2025 is set up to do even better with $148,324.01 already on the books.

This remarkable performance highlights the property's strong rental potential with projections of $328,000 allowing for a net ROI of 6.1% at the current ask price.

Opportunities like this along 30A are rare, and high return potential make this a standout investment.

ROSEMARY BEACH

DETACHED SINGLE FAMILY HOMES

$3,858,333

ALYS BEACH

DETACHED SINGLE FAMILY HOMES

DETACHED SINGLE FAMILY HOMES

WATERSOUND BEACH

DETACHED SINGLE FAMILY HOMES

SEAGROVE BEACH

DETACHED SINGLE FAMILY HOMES

GRAYTON BEACH

DETACHED SINGLE FAMILY HOMES

BLUE MOUNTAIN BEACH

DETACHED SINGLE FAMILY HOMES

DETACHED SINGLE FAMILY HOMES

30A GULF FRONT

DETACHED SINGLE FAMILY HOMES

5 Q4 2023 6 Q4 2024

FT. $2,136 Q4 2023

Q4 2024

CONDOMINIUMS

$8,395,000 Q4 2023

$8,241,666 Q4 2024

30A MARKET OVERVIEW

DETACHED SINGLE FAMILY HOMES

209 Q4 2023 216 Q4 2024

Q4 2023

Q4 2024

Q4 2023 39 Q4 2024

CONDOMINIUMS

$2,167,142 Q4 2023

$2,575,246 Q4 2024

$1,503,342 Q4 2024

DESTIN

DETACHED SINGLE FAMILY HOMES

CONDOMINIUMS

$1,396,142 Q4 2023

$1,067,726 Q4 2024

MIRAMAR BEACH & SANDESTIN

DETACHED SINGLE FAMILY HOMES

44 Q4 2023 55 Q4 2024

Q4 2023 $533 Q4 2024

$1,489,114 Q4 2023

$1,715,420 Q4 2024

Q4 2023 67 Q4 2024

CONDOMINIUMS

Q4 2023

PANAMA CITY BEACH

DETACHED SINGLE FAMILY HOMES

212 Q4 2023 197 Q4 2024

Q4 2023

CONDOMINIUMS

$771,948 Q4 2023

$632,709 Q4 2024

DETACHED SINGLE FAMILY HOMES

$1,497,775

CONDOMINIUMS

NUMBER OF SALES

Q4 2023 359 Q4 2024 AVERAGE SALES PRICE

$789,448 Q4 2024 AVERAGE PRICE PER SQ. FT.

$886,266 Q4 2023

$638 Q4 2023 $569 Q4 2024 AVERAGE DAYS ON MARKET

Q4 2023 133 Q4 2024

Q4 2023

Q4 2024

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