Hello all and congratulations!! We’ve made it through another year. 2018 was a great year for the real estate market here on Scenic Highway 30A. Let’s take a look at where the market ended and how it compared to the previous year. First let’s start by breaking 30A down into 2 areas: the West end and the East end.
The West end of 30A stretches from Dune Allen Beach to Grayton Beach, and is the smaller of the two areas. However, this side of 30A saw extremely favorable numbers for homeowners in 2018. The Average Sales Price increased by over 20% as compared to 2017. Whereas, the Average Days on Market dropped by 18% settling at 133 days. That’s just under 4.5 months, which is lower than it has been in over 5 years! The properties on the West end are in high demand. Get them while you can. The property value will only continue to rise as more people seek to own a piece of paradise at the beach.
The East end of 30A includes everything between Grayton and Inlet Beach. Although many of these communities continue to be favorites among tourists and homeowners, there was not much change in the East end market. That is not to say anything bad. In fact, it is quite the opposite. The amount of residential properties listed and those that were sold were almost the same as 2017. The Average Sales Price saw an increase of 1.22%, but the Absorption Rate has decreased by 13% as compared to 2017. The Absorption Rate, which ended at 7.5, is the amount of time it would take to sell all the properties currently on the market. The rate of 7.5 months is lower than it’s been in over 10 years! This tell us inventory is extremely low and a great time for homeowners who are looking to sell.Overall the 30A market continues to remain strong with residential properties in 2018 having sold at an average of 95% of the List Price. The month of May saw more properties sold than any other month. Making now the time to get your home on the market!