The First Half of 2020 has been quite the year for real estate here on 30A. In our half-year (Q1 & Q2) Market Report, we detail out a few key indicators of market growth and health - factors that will help you, the buyer or seller, make informed decisions as you narrow down and find your 30A home, condo, or property.
You'll find the market statistics below, as well an easy-to-read and share graphic, and explainer video if you'd rather listen and watch the beach than read an article. But before we get started - here's a few details you'll need to know...
The report contains statistics relatively hyper-local to 30A. Meaning only properties south of 98 (does not include north of 98 properties and communities like Watersound Origins and half of Inlet Beach). The report also is homes, condos, and land stats. When compared year-over-year via year-to-date info, this shows a more complete health indicator.
Here's the graphic below - and here's the explainer video on Live 30A Youtube
30A Half-Year Real Estate Market Report & Breakdown
990 Properties were put under contract from January 1 through June 30th. This is an increase of over 30% compared to 2019. Wait... what? How is that possible with COVID-19? While there was a slowdown for a bit - the quarantine and resulting business practice changes actually has created a real estate boom on 30A of sorts. We predicted the boom coming in a previous blog post that you can find here. As businesses began to implement remote-working and companies began to change their business strategies - 30A lovers began visualizing and actualizing having a 30A vacation home with their name on the deed.
721 Properties sold in Q1 and Q2. This is a little over a 6% increase. Again - how is that possible with a quarantine, beaches closed, and economic uncertainty? Well, ever since the beaches and vacation rentals opened sales have been occurring at a fast pace in all price points. Take note that the pendings are up 30% and the sales are only up 6% so far... this is an indicator of the pent-up demand that is still playing out. We'll see plenty of sales and tons of demand in Q3 2020 on 30A as well.
$1,198,200 average sales price on 30A. This is a 11%+ increase over 2019 in the same period. Many thought that this statistic would be going down as uncertainty rocked the markets and the nation. It's important to note that this DOES NOT mean that ALL properties on 30A are up 11%, although the market values are increasing - this is an indicator of the OVERALL real estate market health on 30A. Here's what I mean: In late 2019 and 2020 we have seen a number of excellent, new, and luxury homes hit the market and sell. Large custom homes and a growing luxury community like Alys Beach (where sales have been increasing as the Alys Beach Club is nearing completion) will skew sales prices upward overall a little bit. Fifty plus added sales at $3M+ will add a little something to the numbers.
Here's the Explainer Video taken in Inlet Beach.
Ready to start the adventure of owning your own property on 30A? Our team is here to help. Contact your Live 30A Agent, or email us at Hello@live30A.com