Rockin the summer away in Rosemary
We are rockin’ summer in Rosemary Beach. Rentals are at an all-time high and our guests are pouring through the doors to shop for real estate in our community.
And why wouldn’t they? Our town provides the charm of a village with everything you need for the PERFECT VACATION. Park your car, and walk or bike (no more than 5 minutes)…to the BEACH or Main Street downtown ..filled with restaurants and boutique shopping. Some people decide to invest in a family legacy that they can purchase, rent weekly until they can come live here full time and have that rental income to help pay for their ultimate retirement home. Others decide to buy their home now and have it all to themselves for family and friends to visit whenever they want. Whatever the case, folks are flocking to our little town.
Last month, I referred to the lack of inventory and how it is affecting sales in the areas compared to last year. The highlighted Sales Comparison chart shows how three of four traditional neighborhoods are down 10% compared to last years sales, with inventory levels down from 20-33%. Rosemary Beach has 33% fewer homes and condos in inventory but our average sales price of $1,510,680 is 22% higher than the 2012 annual average sales price of $1,234,915. Compare this to Scenic Hwy 30-As average sales price of $719,062 which is an increase of 13% over last year, with total inventory down 20%.
Last year, we sold 63 homes and condos and currently have 60 homes and condos available to buy at this time.
What about RESIDENTIAL LAND on Scenic Hwy 30-A? Sales are up 27% over last year with the average sales price of a lot at $322,506. As usual, the inventory is down 25% compared to 2102 levels and there have been 268 lots sold year to date with 446 currently on the market. There are no vacant lots available for sale in Rosemary Beach at this time.
GULF FRONT LOT sales on Scenic Hwy 30-A have more than doubled since this time last year the average sales price of a GULF FRONT LOT is $1,524,687, a 13% increase over last year with the inventory down 40%. Last year, we sold 25 gulf front lots on Scenic 30-A. At this time there are 26 lots on the market to buy.
The average gulf front home/condo price of $1,553,435 is a 25% increase over last years sales price and thats with 22% less inventory. Last year, 128 gulf front properties sold and now there are only 140 available to buy. In Rosemary Beach, there are ONLY TWO gulf front homes available to buy at this time. GULF FRONT homes are selling for $1013/sq ft in traditional neighborhoods compared to those outside of community selling for $625/sq ft.
Looking at all average sales prices of homes not in a planned community, you can clearly see the VALUE in a traditional neighborhood development. The “Big 4” that I compare every quarter produce over 40% of the total sales volume on Scenic 30-A with only 28% of the inventory on the market. Community creates VALUE and we see that in our everyday life here. Knowing your neighbor, the quality of life when you can walk to the necessities, being surrounded by beautiful architecture and natures beauty, and feeling secure in your environment is PRICELESS. I love to see children riding bikes to the beach confidently knowing that they can find the way home…and will be safe on their trip around the neighborhood.
As school resumes in Fall, remember that October is the best month to visit us! Theres the UNCORKED WINE FESTIVAL on Oct.19th that will sell out due to limited tickets, so get them early. Football season starts soon so let the games begin! Welcome to THE PEARL Hotel…our very own “uptown” Hotel on Main Street & Water Street
Other events here
Drop off location for FOOD FOR THOUGHT?
Come by our office and lets talk about REAL ESTATE! We are open 7 days a week and you will be greeted with a SMILE…….promise