Seacrest Beach Lot Sales Data | August 13, 2018
It has been a great summer and as we wind down the summer selling season, a common question is “How is the market looking”?
Overall, the market remains strong, although certain segments – lots & older homes have struggled against the steep competition of new construction.
Right now, there are 20 vacant lots on the market in Seacrest Beach. The average days on market is 426 days. There is 1 lot under contract and there is 1 recent sale (past 90 days) which is the lot I just sold – 17 Flip Flop Lane. We took this listing from another broker who had it for over 300 days, adjusted the price twice and procured a buyer.
Staying on top of the market is key. I’ve seen similar success with 2 “front row” homes (facing 30A). I priced them correctly and have closed on one of them and the other is under contract, set to close this week, while other similar homes rack up 100’s of days on the market. (I will do another post on front row homes soon).
Looking back over the year, there have been a total of 4 lot sales in 2018. How does that compare to past years?
|Year||Sale #||Avg DOM|
What does this mean? Lot sales are slow for a variety of reasons: a) prices on lots have risen dramatically over the past few years b) there is good existing new home inventory that compete with lot sales c.) building cost have risen, making it more expensive to buy and build than to purchase existing inventory.
If you have more questions or would like to discuss the value of your Seacrest Beach lot, please don’t hesitate to contact me. My cell is 850.687.9988 & my email is email@example.com
I look forward to hearing from you,
Will Palmer | Broker | Coast Properties