What’s Going On in the 30A Real Estate Market?
Are statistics exciting or what? To some, me included, it is like watching grass grow, unless it happens to be about a subject dear to my heart or perhaps my wallet.
Recently there has been a lot of buzz in the area about how the market is going up and the doom and gloom is over. With that in mind I decided it was time to just take a look at the facts and see where things stand.
The area that I am concentrating on is the roughly 18 miles of the Hwy. 30A corridor. I am comparing the first 2 quarters of 2012 to the same period in 2011 (January 1 to June 30th). These numbers were generated from the Emerald Coast Association of Realtors and do not include properties that were handled outside of that format.
These are simply the facts and I will let you draw your own conclusions, but I do have a couple of observations.
It is apparent that sales activity is up as far as single family homes and residential land is concerned. Prices are also up in those 2 categories with 5.6% in price per square foot for homes and 10% for residential land. Time will tell if these increases are sustainable. Condominiums are a different matter, while sales have gone down the prices have gone up 7.3%. It’s possible sales have been affected by the financial market. Condominium mortgages continue to be problematic.
Well, the grass has grown a little since you’ve been contemplating this information. I hope you find it useful and welcome any suggestions you may have for additional research on this topic that affects all of our wallets.
*Statistics were compiled by Hugh Smith using data provided by the Emerald Coast Association of Realtors.
Beachy Beach Real Estate 850-233-4351
Congratulations to The Resort Collection! 2011 was a top year for The Resort Collection of Panama City Beach, with notable accomplishments, awards, and proof of customer satisfaction. They also saw the highest summer revenue and nightly room occupancy rate. They are looking into 2012 with a focus on guest satisfaction and community involvement.
“This has been a really great year for The Resort Collection. It is our mission to become the preferred leisure, golf, meeting and lifestyle destination in Panama City Beach,” said Paul Wohlford, vice president of sales and marketing for The Resort Collection. “In 2011, our staff fulfilled that mission and the guests just keep coming back!”
“After the Deepwater Horizon oil spill, we were really aggressive in making sure people knew our beaches were unaffected,” said Wohlford. “We saw the fruits of our labor this summer. We are pleased that people turn to The Resort Collection when they think of a Florida vacation, whether it’s their first stay or they come every year.”
The Resort Collection shared this news in Time Square in New York City to celebrate. (see featured image) Congratulations again to The Resort Collection on a great year!
Recently Panama City gained a semi-pro basketball team, the Panama City Dream. Now it’s time for Panama City Beach to gain a highly-competitive soccer team, the Panama City Beach Pirates. The Pirates joined the United Soccer League in November of 2011 as one of 73 Premier Development League teams. The PDL has nine divisions throughout the United States, Canada, and Bermuda.
The PCB Pirates will play a total of 16 games over the summer months against teams throughout Florida and Mississippi, with 8 of those games being played at home in Gavlak Stadium. The Pirates season will run from May to July. They will also be holding camps, clinics, tournaments, and special events so that players of all ages will have opportunities to be involved as well.
The managing owners for the PCB Pirates are Dr. Eehab Kenawy, Jill Holt, and Amy Dalton. The coach will be Greg DeVito, a formal PDL player, and current regional college prep coach. DeVito is also a current Olympic development coach for the state of Florida.
Welcome to Panama City Beach, Pirates and PDL!
For the past three months many have wondered about the lights and heavy machinery working on the beach around the clock. The confusion which came with the $16 million beach renourishment project is now over!
1.4 million cubic yards of sand were pumped to 7.5 miles of beach, in many locations extending the shoreline by 100 feet. This project was the third of the major renourishment projects in Panama City Beach in the past 12 years.
“Preserving Panama City Beach’s natural resources is a top priority for area officials,” adds Rowe. “This commitment can be seen in the beach restoration as well as the recent opening of our Conservation Park. We look forward to welcoming guests seeking authentic beach vacations and ecotourism experiences.”
Renourishment is key to fighting against the erosion caused by dune destruction and reduction. Please help Panama City Beach prolong the areas impacted by the project by respecting the dunes, sea grass,and sea oats!
This coming Thursday (January 5th) Secretary David Wilkins, Attorney General Pam Bondi, and President and CEO of the Florida Coalition Against Domestic Violence Tiffany Carr will be available to discuss the coming of a new initiative in the Northwest region of Florida. Aimed at the creation of a comprehensive approach to reducing domestic violence and child abuse in Bay, Gulf, and Cahoun counties- the Northwest Florida Regional Domestic Violence and Child Welfare Initiative will be launching soon!
Thursday January 5th from 9:30-10:am at the Wyndham Bay Point Resort these three will meet the media to discuss the future of the initiative and from 10:00am-2:30pm there will be a community day at the same location.
The speed limit has been lowered to 45mph, Pier Park is attracting new stores, Wal-Mart will be calling the area home soon, and now Pier Park North is scheduled to be built. Many complain about the congestion and traffic on the stretch of Back Beach Road near Pier Park already, but with these factors those commuting through Back Beach Road should expect the congestion to increase.
While the speed-limit being lowered on Back Beach Road upset many locals at first, the new development across from Pier Park has changed a lot of opinions. Considering the traffic that the increased shopping areas will add 45mph seems necessary to ensure safety.
When the new Wal-Mart was being negotiated those who lived in the neighborhoods around Pier Park were in an uproar. Is noise and traffic a fair price to pay for a turnaround in the economy? How do you feel now that there are many factors contributing to the increase in traffic and noise?
The economy in Panama City Beach has been improving and with that developers have decided to build a 400,000-square foot shopping center across from Pier Park. The new development will be on the North side of Back Beach Road adjacent to Frank Brown Park on approximately 60-acres. They are hoping to open Pier Park North by Spring 2013 after beginning construction in Spring 2012.
The outdoor shopping area has been named Pier Park North, but is a competitor rather than an expansion. Simon Property Group owns Pier Park and its competitor Glimcher Development Group owns Pier Park North.
Leases have been signed for 50% of the space, including one large anchor store, however the Glimcher Development Group plans to announce these names at a later date. There have been rumors of the prospective stores to call Pier Park North home.
- Dick’s Sporting Goods
- Bed Bath & Beyond
- Fresh Market
- Pier 1 Imports
- Ross Dress for Less
- Shoe Carnival
- Toys R Us
- Rooms to Go
- Men’s Warehouse
How do you think the competition will be against Pier Park?