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Want to know why 2022 was such a good year for the Gulf Coast real estate market? Dive in.
The Gulf Coast is a dynamic market that has experienced immense growth over the past decade. Dive into the latest Annual Market Report by Berkshire Hathaway HomeServices Beach Properties of Florida to learn more about how the market has changed and how this increase in demand is affecting real estate sales.
In 2022, 1,236 properties were sold in the 30A area totaling $2,856,248,324 worth of transactions. Although the sales volume is down by 34% compared to the previous year, the average price sold went up by 27%. Furthermore, due to the strong continued activity in the first two quarters of 2022, average days on market also remained historically low, averaging 40 days in 2022.
Among the local beach communities, Rosemary Beach and Santa Rosa Beach property markets saw a 11% and 16% (respectively) increase in sales volumes over 2021.
Another notable category that saw an uptick in sales volume was newly constructed single-family homes that recorded 323 sales in 2022, an 18% increase in sold volume and a 26% increase in average sold price per square feet,
For an in-depth look at Florida’s Gulf Coast real estate market including Destin, Panama City Beach, The Forgotten Coast, Navarre, and Bay County, click here. If you’re researching your dream home, this report is a perfect resource. It includes the most comprehensive data sets for the local real estate market—and it’s free.
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