February 2020 Real Estate Update

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By Lisa Hughley

Lisa HughleyIt has been an amazing start to 2020 for the real estate market in our area! Freeport and Niceville are growing by leaps and bounds. Buyers are coming in from outside of the area asking specifically for these areas. As you will see, there is very little in inventory available in comparison to the amount of sales for this past year. Builders are building as fast as they can to keep up with the demand. With interest rates in the 3.5 to 4% range, buyers can afford a larger home and get a wonderful interest rate for the life of the loan.

If you have been on the fence about selling your home, now is the time. I would love to have the opportunity to talk with you and answer any questions you may have. Just take a look at the numbers…

Freeport: Detached Single Family Homes
There are currently only 97 available homes ranging from $149,900 with 812 sq. ft. to $745,000 with 4283 sq. ft. The average property for sale is $357,999 with 2203 sq. ft., priced at $169.98 per sq. ft. with 132 days on the market.

There are 58 pending properties under contract! The low is $97,000 with 728 sq. ft. and the high is $578,776 with 3781 sq. ft. The average property pending is $322,090 with 2215 sq. ft., priced at $147.84 per sq. ft. and 67 days on the market.

There have been 445 home sold this past year! The low is $50,000 with 640 sq. ft. and the high is $890,000 with 4988 sq. ft. The average sold is $304,186 selling at 99% of list price with 2137 sq. ft., at $144.73 per sq. ft. and 67 days on the market.

Niceville, Detached Single Family Homes
There are currently only 88 available properties ranging from $104,900 with 939 sq. ft. to $2,695,000 with 6003 sq. ft. The average property for sale is $494,620 with 2388 sq. ft., selling at $200.38 per sq. ft. and 130 days on the market.

There are currently 95 pending properties under contract! The low is $139,900 with 1152 sq. ft. to $775,000 with 4720 sq. ft. The average property pending is $380,446 with 2061 sq. ft., priced at $181.86 per sq. ft. and only 58 days on the market!

There have been 863 homes sold this past year! The low is $65,000 with 672 sq. ft. and the high is $2,067,500 with 7755 sq. ft. The average sold is $365,088 selling at 99% of list price with 2120 sq. ft. and selling at $169.65 per sq. ft. with only 52 days on the market!
Take a look at the activity in a few of the area neighborhoods!

Hammock Bay
There are currently 47 properties available with the low being $242,500 with 1566 sq. ft. and the high being $650,481 with 4283 sq. ft. The average property is $358,470 with 2349 sq. ft. and priced at $156.30 per sq. ft. with 93 days on the market.

There are 20 pending properties with the low being $210,900 with 1384 sq. ft. and the high being $578,776 with 3781 sq. ft. The average pending home under contract is $399,977 with 2656 sq. ft. and priced at $154.30 per sq. ft., with 50 days on the market.

There have been 187 homes sold this past year! The low is $198,000 with 1384 sq. ft. and the high is $594,958 with 4425 sq. ft. The average sold is $313,861 at 99% of list price with 2249 sq. ft. and $142.10 per sq. ft. with only 52 days on the market!

Windswept
There are currently only 7 properties available ranging from $279,900 with 2118 sq. ft. to $401,267 with 3051 sq. ft. The average property is $341,915 with 2580 sq. ft. and an average of 74 days on the market.

There are three pending properties ranging from $330,288 with 2532 sq. ft. to $387,718 with 2916 sq. ft. The average pending is $365,869 with 2680 sq. ft. and 77 days on the market.

There have been 26 homes sold this past year! The low is $273,000 with 2127 sq. ft. to $650.000 with 4988 sq. ft. The average sold is $349,260 selling at 98% of list price, with 2737 sq. ft. and $128.23 per sq. ft. with 74 days on the market.

Bluewater Bay
There is currently one active property available at $235,000 with 1672 sq. ft., priced at $140.55 per sq. ft. and 36 days on the market. There are currently two pending sales with the low being $279,900 with 1606 sq. ft. and the high is $479,900 with 2756 sq. ft. There have been 19 sales this past year ranging from $211,000 with 1441 sq. ft. to $775,022 with 7261 sq. ft. with the average sold being $369,270 at 99% of list price, with 2247 sq. ft. and $166.02 per sq. ft. with only 94 days on the market!

Lagrange Landing has five new properties available ranging from $255,900 with 1691 sq. ft. to $335,900 with 2210 sq. ft. and Ashton Park has two new properties available at $417,345 with 2554 sq. ft. and $402,345 with 2347 sq. ft. Bear Creek has two new properties available at $419,900 with 2397 sq. ft. and $439,900 with 2402 sq. ft.

All information is deemed reliable, but not guaranteed. All information has been gathered via the local MLS.

If you or someone you know is interested in Selling, Buying or Investing, call Lisa Hughley!
850-660-1962 (office) or 850-826-2151 (cell). I would love to have the opportunity to answer any questions you have!