Navarre Florida Real Estate Report – Oct. 2019
So, what’s real estate looking like in our quiet little unincorporated neck of the woods/beach?
We’ve had 1425 homes of some type sold in the last 12 months.
Of that 1425, we had 1210 detached single family homes sold. Obviously Navarre’s most popular option. Next is condos which accounted for 102 sales, followed closely by attached (townhomes/duplexes) with 89 sold. Last we had 23 mobile/manufactured home sales.
One property sold as a farm by the way, just in case you’re checking my math. This ain’t exactly farming country.
The makeup of those sales consisted of 28 one bedroom units, 72 two bedroom units, 641 three bedroom, 606 four bedroom and 78 five or more bedrooms.
So, now let’s see what current inventory looks like.
There are 226 active listings right now and they consist of 176 detached single family, 32 condos, 15 townhomes and 3 manufactured.
Those are broken down to 7 one bedroom, 10 two bedroom, 90 three bedroom, 113 four bedroom and 6 five+ bedroom homes.
So, what do we take from all of this?
First of all, it is clearly still a seller’s market. I keep hearing reports of the shift toward a buyer’s market in the U.S. and even in our own Sunshine State. While it may be true, it’s not true for Navarre.
The tipping point for a buyer’s or seller’s market is 6 months of inventory. Here in Navarre we have 226 active listings and we are selling 118.75 homes per month. WE HAVE 1.9 MONTHS OF INVENTORY. We’re nowhere close to a buyer’s market.
If you have your home in good shape and price it right, it should be a great time to sell now and in the foreseeable future.
I’ll try to get a chart built to make all this easier to digest on my next update.
One last note on new builds. There are 53 brand new homes active out of 226, and 324 new homes sold in the last 12 months out of 1425.
While lots are harder and harder to come by and continue to skyrocket, builders are still very active here in Navarre. They are making up almost a quarter of all sales.
Let me know if you have any questions/comments. Numbers collected from Emerald Coast Association of Realtors mls.
Thanks, Robert Cloar, World Impact Real Estate, Navarre