Strong Second Quarter Surge | Mid-Year Market Report

Posted by Blake Morar on Friday, July 31st, 2020 at 10:51am

As the first quarter of 2020 came to a close, we looked back with gratitude at the momentum in our market and some of the most significant sales to ever occur along Scenic Highway 30A. At the same time, we were entering the “unknown,” brought on by the spread of the novel coronavirus around the world.

 

Health concerns, economic instability and massive changes in the ways we work, shop, dine and even unwind were impacting our nation’s largest cities and would almost certainly trickle down to our beach communities.

 

Year over year, the Emerald Coast market, as a whole, experienced a decline in April and May, as buyers and sellers were facing the uncertainty of a global pandemic. And then, just as the weather warmed and the beaches slowly reopened, we experienced a June unlike any other — a 318% increase in closed sales compared to May, indicating a strong outlook for the remaining months of 2020.

 

We attribute June’s explosion to a fundamental shift in the way in which people choose to live. People who could once only dream of being away from crowded urban areas are making full-time beach living their reality. Companies and society, as a whole, are embracing the idea of telecommuting. Individuals, who quickly developed new work-from-home skillsets are no longer tethered to an urban area — or any area for that matter. Now, and for the foreseeable future, they can work and play where they want to live.

 

Is this our “new normal?” Only time will tell. But, we remain grateful for the inherent value of our beach towns, the lifestyle promised in northwest Florida and for the people who’ve returned to our shores and those experiencing it for the first time.

Our beach town real estate is selling at an amazing rate right now. With more people looking to move out of the urban environments, coastline areas are the most desirable destinations in the world. Take a look to see what is offered; or, contact us to put your home on the market now.

 

Life is short ... buy the beach house.

 

 

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