Summer season winding down...

As the summer season is winding down, we have seen a very good recovery of tourism, the rental market and real estate market. The tourists are back in even larger numbers, and vacation rentals are the highest they have ever been, with many properties already surpassing incomes of 2011 by the end of July. Sales of real estate have continued to be strong with sales up from 2011, which was the bounce back year. Inventory has dropped from the highs in 2009, which along 30A was around 1200 houses and condos to approximately 750 as of July 2012. With inventory dropping this is helping firm up prices, which have stopped dropping and in some instance are showing modest gains. Desirable properties priced at market are selling quickly. 

I expect that we will see a repeat of what happened after the Savings and Loans crisis in the late 80’s. By the early 90’s the bottom had been reached in values, and we started a slow steady rise in property values along the Emerald Coast through to the boom and bust period in the mid 2000’s. This is not a fact, but I think a good probability.

If you are are curious about the current value of your South Walton 30A property, or considering selling, I would be pleased to do a free CMA (comparative property analysis) for your property.