Emerald Coast Real Estate Market Recap for 2020

Here’s a quick update on what we’re seeing in the Emerald Coast market.

Today I have a quick update to share for the Emerald Coast real estate market. In 2020, we experienced incredible growth in home appreciation.

In the Destin area, condo prices rose from an average of $559,000 to $616,000 in just a year. Single-family homes saw an even bigger jump from $635,000 to $825,000.

Miramar Beach experienced similar growth. Average condo prices rose from $764,000 to $803,000, and average single-family home prices rose from $765,000 to $903,000.

Over in 30A West, condo prices stayed relatively flat due to lack of inventory. Single-family homes, on the other hand, rose from $867,000 to $1,036,000 in terms of average price.

Everyone wants to be here, but we have very limited inventory.

The 30A East single-family homes experienced the most growth of all. The average price in 2019 was $1,300,000, but now it’s up to $1,691,000. People truly want to be here, as you can see by the almost $400,000 jump in pricing.

North Santa Rosa Beach has seen about a $50,000 increase in home prices, and PCB has had about $30,000 in growth.

The first quarter of 2021 has been even crazier. Everyone wants to be here, we have very limited inventory, and demand is strong. If you’ve been thinking about the possibility of selling your home, now would be a perfect time to take advantage of these unique conditions. Buyers are having a little more trouble, but they can still win by getting pre-approved, prepared, and working with a knowledgeable agent. More inventory is on the way, so reach out if you want to know about the new off-market properties that are coming soon.

If you have any questions for me about the Emerald Coast market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.