2014 Year-End Luxury Market Update
2014 Shows a Market Beginning to Stabilize
On a national level, the real estate market cooled down in 2014 compared to 2013. The double-digit gains of 2013 are gone, and that is good for the long-term health of the overall market.*
We are happy to see local real estate activity and trends slowly progressing upwards. As the market continues to stabilize along with a healthier economy there should be brighter days ahead for the housing market and our local real estate activity.
Look for quarterly updates on the Emerald Coast luxury real estate market from Emerald Coast Luxury by mail and online at www.EmeraldCoastLuxury.com.
Looking Forward – 2015 Expectations
The information in this infographic comes from a video of NAR Chief Economist Lawrence Yun talking about his 2015 housing market expectations. He expects existing-home sales to rise about 7% in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices.
Destin Luxury Review
During 2014, there was an 11% increase in the amount of luxury properties sold compared to 2013. The list to sales price also increased 2%.
Miramar Beach Luxury Review
Price per square foot increased 14% in 2014 for Miramar Beach luxury properties. The properties were on the market 112 days less and 48% more properties were sold.
Scenic 30A Luxury Review
Luxury properties on 30A were on the market 83 days less in 2014 versus 2013. The price per square foot increased 4% and there were 22% more properties were sold.
*According to CNBC Real Estate News writer Diana Olick.