Florida Gulf Coast Real Estate Search

We put together this Barrier Islands Real Estate Market Report for people like you who want a quick, clear-eyed look at market patterns. 

A couple of thoughts based on the July 2024 report and our frontline experience in the current market:

From June to July 2024, we gained 3.75% more inventory, had <8.93%> fewer properties go under contract, and saw 7.59% more closings. 

Currently, the market is more balanced (check out the yellow tabs on Page 3), offering a fair environment for both buyers and sellers across most price points, with these exceptions:

  • In the $200k-$400k price range and the $1m-$1.4m price range, sellers have a slight advantage due to tighter supply.
  • Above $2.2m, buyers have the advantage due to higher inventory.

Home sellers who are more attuned to buyer reactions to the price vs condition of their listed property are selling faster. The home sellers who disregard the buyer’s perspective have higher days on market with no offers. Since last month, there is a 5.8% increase in those sellers removing their homes from the market.

As always, regardless of what the market is doing, buyers in all price ranges are not quibbling about the price for updated, move-in-ready properties.  According to Curbio, 77% of buyers are saying they won't consider purchasing a home that isn't move-in ready. Move-in ready means the home has a neutral palette and no repairs needed. What's considered move-in ready varies slightly, depending on the area and property use.

PLEASE do not start making repairs or improvements without talking to us first! Otherwise, you'll spend money that could hurt instead of helping you at closing. We understand buyer priorities and know many free or inexpensive ways to make qualified home buyers pronounce your home move-in ready.

We look forward to helping you use this data to make the best decisions (buy, sell, rent, hold) for your situation. As always, call or text any time (727) 496-6112 or jennie@blackburncoastalrealty.com.

Bill and Jennie Blackburn