Our residential real estate market continues to recover. The last three years have shown increasing strength in sales with volume growing every year: 2010’s increase over 09 was 16% (with an oil spill in the middle) and 2011 numbers were up 26% over 2010. Prices have dropped over the same period, 7% in 2010 and just under 2% in 2011. With volume increasing and prices stabilizing, I predict that 2011 was the bottom of the market for prices, and I expect price to stabilize or increase marginally this year as inventory goes down. There are still a lot of financially distressed properties, (though down about 25% this year) and as these filter through the market we will continue to see some pressure on the prices.
South Walton and the 30A corridor are unique areas and so is the real estate market. People love this place as do I, and for the vast majority, the reason they are here is because they want to be and each year more and people find us. Another reason we are unique is geography. I’ll begin with the natural barriers that contain our area. To the south we have the Gulf and most of the property north of the 30A area is State forest (Point Washington State Forest) and further north across highway 98 is mostly state forest and then the Bay. Along 30A to Bay County there are five state parks and Walton County has 15 globally rare dune lakes along its beaches. Add the 50’ building height restrictions, naturally gorgeous beaches and world-class resort communities into the mix and you get a solid market foundation. Where are you going to find beach villages like Grayton Beach, Seaside, Rosemary Beach, Alys Beach, Dune Allen, Blue Mountain Beach and Seagrove? Where else can you find so many great restaurants from the Red Bar to one of the newest eateries V (and everything in between)? We enjoy art galleries, music festivals, theater and best of all the panoramic view of the Gulf of Mexico; a permanent mural ever changing under God’s direction.
South Walton’s "30A is where you want to be" ... I’m sure of it.
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| Bruce Johnson - 30A Listings - December on the Beach |
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