The emerald coast real estate market has been booming lately, and last year was certainly no exception. So this has home buyers and home sellers asking, what is the emerald coast real estate market going to be like in 2020? Is everything slowing down this year? Or are we still on the climb?
2020 Real Estate A Mixed Bag
Local realtor, Ginny Lee Deptula, recently posted a great update video breaking down the numbers released by the Emerald Coast Association of Realtors at the end of last year. It looks like the answer to the question of what 2020 will be like really depends on what community you’re talking about. As Ginny Lee points out, the Emerald Coast is not just one region. There are several micro regions within it that vary quite a bit.
Seller’s Market in Niceville, FL:
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- Inventory is down 29% with 1.7 months currently
- Supply is down 28%
- Prices are up more than 10%
Buyer’s Market in Santa Rosa Beach, FL:
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- Inventory is down 28% with 6.3 months currently
- Supply is up 2.6%
- Prices are up over 18%
Neutral Market in Destin, FL:
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- Inventory is down 33.5% with 5.6 months currently
- Supply is down 7.6%
- Prices are up more than 18%
Watch Ginny Lee’s full video breakdown here:
So it’s a really good time right now to be selling a home in Niceville and buying in Santa Rosa Beach. But there are also exciting opportunities in our little niche communities all across the Emerald Coast, from Seaside to Freeport to Fort Walton Beach, and all in between.
If you’re in the market to buy or sell a home, let us help you navigate this confusing 2020 market. Contact us right away for a free consultation.