Keith and Allison Freeman - 30A Realtors

The Key Takeaways:
In September 2024, the 30A real estate market is a clear buyer’s market. With inventory up, homes lingering on the market longer, and list-to-sale price ratios slipping, this is the perfect storm for buyers looking to make a move. Sellers, however, may need to rethink their strategy and adjust pricing expectations. Let’s break it down area by area, with action steps for both buyers and sellers.

30A September 2024 Real Estate Stats

 

30A East

  • Average Price per Sq Ft: $862 (down 3.1% from last month)
  • Days on Market: 102 days (up 30.8% from last year)
  • List-to-Sale Price Ratio: 91% (down 4.2% from last year)
  • Inventory: 206 properties for sale (up 36.1% from last year)

Buyers: With homes sitting on the market longer and prices per square foot down, now is a great time to put in an offer. You’ve got a solid selection to choose from and room to negotiate since sellers are adjusting to the reality of longer listing times.

Sellers: Price competitively if you want to move your property quickly. The market is saturated, so if you're looking to sell in a reasonable time, consider making your home stand out through upgrades or price reductions. Flexibility is key​.

30A West

  • Average Price per Sq Ft: $470 (down 24.7% from last month)
  • Days on Market: 173 days (up 106% from last year)
  • List-to-Sale Price Ratio: 87% (down 3.3% from last year)
  • Inventory: 105 properties for sale (up 35.4% from last year)

Buyers: You’ve got time on your side here! Homes are sitting for nearly six months, so take your time to find the perfect property, knowing sellers are more likely to be open to negotiation. Prices per square foot are down, making it an even better opportunity for savvy buyers.

Sellers: If your home’s been on the market for a while, it’s time to reassess your pricing strategy. The drop in price per square foot signals that buyers are being cautious. Be prepared to negotiate or make improvements to boost appeal​.

North Santa Rosa Beach

  • Average Price per Sq Ft: $458 (up 38.4% from last month)
  • Days on Market: 91 days (up 1.1% from last year)
  • List-to-Sale Price Ratio: 92% (down 2.1% from last year)
  • Inventory: 34 properties for sale (up 21% from last year)

Buyers: North Santa Rosa Beach is hot! With prices per square foot jumping and homes moving quicker than other areas, you may want to act fast before values rise even further. While it’s still technically a buyer’s market, you won’t want to wait too long.

Sellers: You’re in a slightly better position here than in other parts of 30A. With prices per square foot on the rise, keep your asking price firm, but make sure your property is ready to impress. Buyers are still price-conscious, so don’t get too comfortable​.

Alys Beach

  • Average Price per Sq Ft: $2,006 (up 17.3% from last month)
  • Days on Market: 0 (down 100% from last year)
  • List-to-Sale Price Ratio: 100% (same as last year)
  • Inventory: 18 properties for sale (up 81.8% from last year)

Buyers: Alys Beach is as luxurious as it gets, but you’ll still find yourself in a buyer’s market. With more properties available, there’s more choice, but don’t expect deep discounts—homes here are still fetching their full asking price.

Sellers: Good news! While other areas are seeing price drops, Alys Beach continues to hold its luxury market appeal. If your home is priced right, you can expect to sell at full price, but make sure your property is marketed well to stand out​.

Rosemary Beach

  • Average Price per Sq Ft: $1,154 (down 19.8% from last month)
  • Days on Market: 160 days (up 515.4% from last year)
  • List-to-Sale Price Ratio: 84% (down 9.7% from last year)
  • Inventory: 7 properties for sale (up 26.9% from last year)

Buyers: Rosemary Beach is presenting great opportunities for negotiation. With homes sitting for longer and sellers reducing their asking prices significantly, now’s the time to make a move. The dip in price per square foot means you can land a solid deal in this high-demand area.

Sellers: It’s time to get competitive. With homes lingering on the market and buyers demanding lower prices, you may need to adjust your expectations. Consider pricing aggressively and offering incentives to draw in potential buyers.

There you have it—the September 2024 market update shows plenty of opportunities for buyers and some key moves sellers should consider making. Whether you’re in the market for a new home or thinking of selling, we’re here to help you navigate these changing tides.

Check out allison30arealtor.com or give us a shout for expert guidance on all things 30A!