30A Real Estate Reports

The Changes in Our 30A Real Estate Market

I am here to provide you with up-to-date information about the Scenic Highway 30A Real Estate Market!  I am closely monitoring the market events surrounding COVID-19 and will continue to keep you updated on a weekly basis.  While business may not be conducted the same as usual, I am finding wonderful, innovative ways to assist all of our clients with many safety precautions in place!  

Scenic Highway 30A is referenced in our market by “East End 30A” and “West End 30A”. The dividing line is Grayton Beach or Highway 283. So West End 30A is west of Hwy 283 and East end 30A is East of Grayton Beach. 

30A EAST Weekly Market Update: 11/7/2020 - 11/13/2020

New Listings

26


Pending Listings

23


Taken Off Market

6


For the week of November 7 - 13, we saw 26 new listings come on the market, 23 listings went under contract and 6 removed from the market. 11.9% of the 30A East real estate market sold last week, down from the previous week, which was 15.5%. Could it be the fact we have an inventory shortage of homes along 30A?

During the months of June, July, August, September and October, the 30A East side real estate market saw, on average, 12%, 11.8%, 12.4%, 13.2% and 11.3% of its inventory sell each week. September still has the highest weekly average at 13.2%. Not surprising since we had more inventory to sell!!

What does this mean? September still has the highest month of inventory that sold at a whopping 66.1%! June, July, August and now October are close in their numbers. June, 47.8%, July 47.3%, August at 49.7% and October 45.3%.

As you will see from the chart below, when inventory is up, pending contracts are up...our inventory is at historic lows so while sales seem down, there is just less inventory to sell!

More recently the number of new listings and new contracts is flip flopping. Some weeks have more listings than new contracts and vice versa. Again, I believe this is due to the low inventory. When supply and demand is at an imbalance, prices and price appreciation will continue. There is a tremendous opportunity for both Buyers and Sellers! 

30A WEST Weekly Market Update: 11/7/2020 - 11/13/2020

New Listings

15


Pending Listings

14


Taken Off Market

1


For the week of November 7 - 13, we saw 15 new listings come on the market, 14 listings go under contract and 1 removed from the market. 18.4% of the 30A West real estate market sold last week, which was down from the week prior at 20.6%. Just like the East end of 30A, the  West end of 30A has a shortage of inventory. 

During the months of June, July, August, September and October, the 30A West side real estate market saw 10.8%, 12.6%, 14.6%, 14.1% and 17.1% of its inventory sell each week, respectively. October now has the highest weekly average of sales. September was down slightly at 14.1%, but that could be the fact that there are 5 weeks in September.

What does this mean? September currently has the highest monthly average of sales at 70.4%!  October is a close 2nd at 68.4%. 

Unlike the 30A East real estate market, the 30A West real estate market has consistently shown, per week, more new contracts, vs new listings. (This current week is off by 1), so we will see what next week brings. Due to the low inventory this statistic could change.

The statistics show over the last few months, our local market has remained extremely strong. Check out the monthly charts here: 30A Monthly Real Estate Reports.  We have NOT seen a pull back as one might have expected during this Pandemic…in fact the opposite has happened. Active inventory continues to be very tight. And some properties only stay in the market a day or 2 before going under contract. Our charts show the trend will continue. There are clear indications that people are continuing to move out of urban areas to suburban, rural and resort areas. This migration will place even more pressure on upward pricing trends. 

Rates remain at historic lows and the Feds have stated they will keep rates low. We continue to see many technological resources being utilized in some instances to show homes via FaceTime and Google Duo, Zoom to discuss contracts and conduct virtual listing appointments and my all time favorite, Docusign, to facilitate electronic signatures.

This real estate market is extremely strong right now and inventory is at it’s all time LOW.  There are great opportunities for sellers with the competition down right now in many price points and locations. I continue to hear from agents and buyers alike that we need more inventory to choose from! Interest rates are VERY low right now so even though the market is competitive, it is a VERY smart time to buy!

I think now more than ever it is important to watch and follow these statistics for a true, accurate portrayal of what the local market is doing.  I will continue to keep you updated on a weekly basis.  If you have any questions as to what these statistics mean for your individual situation, please don't hesitate to contact me! You can easily reach me at 850.450.2000.

Have Questions About Our Market?

Contact me for More Information or fill out the form below!
Debbie@30ALuxuryHomes.com | Cell: 850.450.2000

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