by Jon Lyons
on Friday, October 16th, 2020 at 7:24am.
30A Real Estate is Hot.
If you're a 30A lover like so many, and looking to purchase a home or some real estate here at the beach -- We'd love to help. Here's a breakdown of what's happening here in the market.
First of all -- Don't shy away from buying when you hear "The 30A Real Estate Market is Hot" - this is often the time when builders/developers/investors can get more creative with their budgets, and some of the most beautiful homes come on the market and trade hands. This generally also means you're doing well in a prospering economy. And... I know what you're thinking... is this like the 2005-2008 run we had a decade ago? Not a all. This time lending is much more tight - although "cheap", people are putting down much more cash, and in fact -- a large % of buyers are buying their properties with cash.
OK -The 30A Real Estate Market is Hot. Here's The Numbers...
30A properties that went under contract: 223 (+108% over September last year)
30A Properties that closed "Sold": 223 (+106% over September last year)
Average 30A sales price so far in 2020: $1,267,000 (+20.3% over 2019)
Absorption Rate: 223 (59% lower than September Last year)
- The absorption rate in the real estate market is used to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the number of homes sold in the allotted time period by the total number of available homes