Condo prices

[flyguy]

Wondering if someone could give me an idea of how gulf front condos are doing in Walton county.

I am looking mainly in Bay county and have pretty good access to sales data there from condosalestrend.com. I know Walton is more expensive. I was curious if prices are continuing to fall as they are in PCB. Brand new 2bed/2bath full gulf front condos have dropped below $300,000 in PCB. Again I know Walton county is more expensive, just wondering if the trend is the same.

Thanks,
Flyguy

 

[jlweathers]

trend is certainly similar - down. south walton however is likely not as severe as the pcb area b/c of the rapid influx of inventories in the pcb market (something like 18k units added in the last 3 years). & sowal tends to be a much more desirable location. overall down 30-40% in sowal; i would look for further deterioration in pcb, particularly as the hideous monstrosity laketowne wharf finally comes to fruition.

 

[jlweathers]

sorry, just realized you meant specifically gulf front - those units have probably faired a little bit better - only off about 20-30% in sowal.

 

[seacrestkristi]

Hey flyguy are you looking at Gulf front condos only? Do you prefer a condo over a house? Would you have to have a swimming pool at your condo? Just curious.

 

[flyguy]

Hey flyguy are you looking at Gulf front condos only? Do you prefer a condo over a house? Would you have to have a swimming pool at your condo? Just curious.

Yes, full view gulf front condo only. I do prefer a condo as we will only be there a few months out of the year. I prefer a condo with a swimming pool.

Thanks,
flyguy

 

[seacrestkristi]

Thank you, flyguy. I've noticed a major price jump in just a few steps difference is why I was curious how important it was to you? ;-)

 

[Pirate]

I would say asking prices are down 20% but real apples to apples closed sales are more like 30-40 percent off from the peak in my estimation. I have purchased at as much as 50 percent below peak closing prices.

 

[Cork On the Ocean]

Hey Flyguy,

I've got 4 year reports on sales and list prices on both 30A and PCB here .



As you can see, the average 2BR gulffront condo on 30A today is listed at about 42.2% less than it was in 2005 and about the same as 2/2004.

2BR condos on PCB are down 13.9% from 2005 average and are about the same price as May 2004.

You'll also note from the stats that list prices are softer on 30A with sellers taking an average of 88.73% of their asking compared to
93.86% on PCB.


The acceleration was much greater on 30A and so has the deceleration been. If you love 30A, now is the time to go for it but as you can see it's still a bit pricier than PCB.

I've put a link to all available 2BR/2BA gulfronts on 30A below. There are 307 2BR gulffront units on PCB built 2004 and later and they begin at $294,900. PM me if you want those, autonotices or more refined reports. Would be happy to help.



Available 2BR/2BA Gulffront Units on 30A

 

[flyguy]

Cork,
Great info, PM is headed your way.

flyguy