Summer Weather At The Beach
Our area has been very fortunate with regard to named storms over that last few years. Did you know that the last named storm to impact our area was Tropical Storm Debby that hit June 25, 2012 – three years ago?The last Hurricane to hit Panama City was Earl and it hit September 3, 1998 – 17 years ago. Nobody knows what this summer holds but statistics show that Panama City is overdue for another hurricane.
Click here to see more about Panama City Beach Weather History
What this means to you?
Probably nothing but … make sure your insurance policies are up to date, you may want to talk you’re your HOA about what happens when a storm hits, and if you are thinking about waiting to sell a property in the Fall you might consider selling now. September is, statistically speaking, the most likely month for our area to get hit with a hurricane. The bottom line is – if you own property at the beach weather is always something to keep in the back of your mind and be prepared for. If we can help you in any way please let us know and we will be happy to do so.
Summer Real Estate Trends
The Emerald Coast real estate market remains very active. We are reporting healthy sales activity for homes, condos and land.
Condo Sales – There are a few new construction opportunities in Destin and Panama City Beach which is exciting. Overall the condo inventory right now shows that there are still a lot of them for sale (600 +/-) and roughly the same number of new listings come on the market each month as those that sell which means supply is equals demand right now and that is keeping prices flat. I can tell you though that there is a shortage of “Good” condos for sale and have a lot of buyers looking for “Good” condos and are willing to pay a premium for them.
New Home Sales are among the most active. Builders are pricing homes correctly and offering upgrades and incentives, which are attracting a lot of buyers. We are seeing a lot of calls for buyers about new home construction.
Existing Home Sales are also very strong. We are seeing both primary residences and investment properties getting a lot of showings and we are selling many of our homes at higher prices than in recent years.
Land Sales – Sales have been steady. Remember last year when builders were scrambling to buy up land for new construction and driving prices up? Well this summer we have the same situation but to a much lesser degree. Spec Builders are still buying land and putting up homes and we are seeing a lot more end user buyers in the market right now.
Where is the Market Heading?
Like the weather nobody can predict what will happen with the real estate market at the beach. Looking at the trends:
- Inventory is still plentiful
- Banks are lending
- Interest rates are still low
- There are a good number of buyers in the market
I believe you can expect a healthy real estate market for the near future which means if you are a buyer willing to pay a fair price you will get your deal. If you are a seller willing to accept a fair price you will get your sale. If you are wondering about what “fair prices” are feel free to call John Skinner, at 850-267-2671 or email him at JohnSkinner@AtTheBeachTeam.com and we will be happy to run the numbers for you.
About The Author
My name is John Moran – I am the Team Leader for Keller Williams Realty’s At The Beach Team. My team and I are committed to doing the very best we can to get you the greatest return for your real estate investment and will strive to help you maximize your position whether you are a buyer or a seller.
I hope this information is helpful for you and if there is anything I or any of our team members can do to help you in the future please do not hesitate to call or text me at850-217-7618, or email me at JohnMoran@AtTheBeachTeam.com
For Panama City Beach contact John Skinner at 850-267-2671 or JohnSkinner@AtTheBeachTeam.com
Note: Keller Williams Realty’s At The Beach Team sells more condos from Panama City to Pensacola than any other Realtor or team of Realtors – by double! The At The Beach Team also ranks in the Top Ten for combined sales (Houses and Condos).
More Real Estate Tips Like These
If you would like to see other tips about buying or selling real estate simply send me an email atJohnMoran@AtTheBeachTeam.com and I will be happy to email them to you. If you would like to receive future tips – we typically send them out once a month – again simply send me an email and I will make sure you get them. For Panama City Beach contact John Skinner at 850-267-2671 or JohnSkinner@AtTheBeachTeam.com
– John Moran