Pro Tip: Understanding Days on Market on 30A

How many days on market does this home have? This is a common question that comes up when we are out showing properties on 30A. To better understand what "days on market" means, we can look at the average number and a few reasons why.

The average days on market is currently around 150–160 days, but it is common for that average number to be higher. Different types of real estate have different levels of liquidity. Raw land is an example of real estate that can have high days on market. Another example would be specific commercial properties.

The pool of potential buyers also tends to go down as price goes up. Luxury vacation homes here, in general, are moving slower than many average residential neighborhoods. The properties on 30A are often paid for, getting rental income, or are still being used and enjoyed.

Also, the lifecycle of the buyer can move slower, with buyers renting another year or delaying because it is a want, not a need. With out-of-town buyers, we also have to add the time it takes for them to get in town to view properties.

These are a few factors that make the market a little different than a primary market. It is worth noting that the market is finicky—changing block to block.

Here is some data on 30a in neighborhoods like Rosemary Beach, Alys, Seacrest, Watersound, Watercolor, Seaside, Seacrest, and Grayton and the gulf front homes. You can get a feel for the average cost to buy in these neighborhoods and how many homes are selling in each in a 12 month period. 

To talk about it more, reach out to us!

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