Despite good market conditions, values decreased in 2016 in North Miramar Beach. This was surprising. Because supply and demand are in balance and the DOM is 106. And because throughout most of 2016, the data indicated increasing values. Relative to values, there is good news….
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Values are increasing between 7% and 9% per annum according to my 5-Year Historical Trend analysis. The 2016 increase is even greater. Month’s inventory is five. DOM is 94. These are signs of a good market.
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Values are increasing 4% to 4.75% per annum. Month’s inventory is 2.3. Median sale price is $300,000.
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Values are increasing. But at a 2% lesser rate. Number of sales are down significantly. Supply and demand are in balance. DOM is 215.
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Do you know what I mean by “pretty land?” Rolling hills, forest, views. Low density.
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Freeport is poised for growth. New Publix, Hwy 331 widening, and new small business openings like Great Clips, a bank, nail salon, etc. Although values have decreased YOY YTD, the number of closed sales increased from 215 to 291. Values historically have increased last five years (see table).
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