The Santa Rosa Beach neighborhood market is a dynamic real estate landscape characterized by upscale properties, beautiful beaches, and a growing demand for luxury homes. As of October 2024, the median home sold price was $952,905, reflecting a 4.2% increase from the previous year. The market is currently favoring buyers, with homes staying on the market longer and selling below list price. Despite fluctuating interest rates, experts predict potential decreases by year-end, which could benefit investors in this sought-after Florida coastal community.
What Are the Current Real Estate Trends in Santa Rosa Beach?
The Santa Rosa Beach real estate market has been experiencing notable shifts:
- Median home sold price: $952,905 (4.2% increase year-over-year)
- Market status: Buyer’s market
- Average sale price vs. list price: 5% below list
- Interest rates: Started at 6.5% in May 2023, increased to 6.81% by July 2023
- Future outlook: Potential decrease in interest rates expected
How Have Property Values Changed in Recent Years?
Property values in Santa Rosa Beach have shown a general upward trend:
- Median sale price: $1.21 million (8.0% increase year-over-year)
- Median price per square foot: $519 (slight decrease from previous year)
- Price range for single-family homes:
- 50% between $1 million and $4 million
- 10% at $5 million or above
What Does the Housing Inventory Look Like?
As of October 2024, the housing inventory in Santa Rosa Beach stands as follows:
| Bedroom Type | Number of Units | Change from September 2024 |
|---|---|---|
| 1 bedroom | 44 | +4.8% |
| 2 bedrooms | 106 | +5.0% |
| 3 bedrooms | 289 | +4.0% |
| 4 bedrooms | 302 | +6.0% |
| 5+ bedrooms | 236 | +6.3% |
Total homes for sale: 977 (5.3% increase from September 2024)
What Are the Key Neighborhood Amenities in Santa Rosa Beach?
Santa Rosa Beach offers a variety of amenities that enhance the quality of life for residents:
- Natural attractions:
- Topsail Hill Preserve State Park
- Point Washington State Forest
-
Santa Rosa Beach Community Park
-
Dining options:
- Fine dining restaurants
- Casual eateries
-
Seafood establishments
-
Shopping centers:
- Village of Baytowne Wharf
- Shops of Grayton
Most amenities are within walking distance or a short drive from residential areas, with no significant associated costs for access.
How Accessible is Santa Rosa Beach?
Accessibility in Santa Rosa Beach is characterized by:
- Primary transportation: Personal vehicles
- Main thoroughfare: Highway 30A
- Limited public transportation
- Available local shuttle services and bike paths
- Parking: Generally available, but challenging during peak tourist seasons
Challenges include increased traffic during tourist seasons and restrictions on short-term rentals in some areas.
What Do Recent Real Estate Transactions Reveal About the Market?
Recent transactions provide insights into the Santa Rosa Beach market:
- Average days on market: 127 days
- Median price per square foot: $519
- Primary property types sold:
- Single-family homes ($1 million – $4 million+)
- Condos ($400,000 – $10 million)
Property value fluctuations over the past year:
– 1 bedroom homes: +2.8%
– 2 bedroom homes: -4.8%
– 3 bedroom homes: +8.2%
– 4 bedroom homes: -3.1%
– 5+ bedroom homes: +19.6%
The Santa Rosa Beach neighborhood market continues to evolve, offering a mix of opportunities for both buyers and sellers. With its beautiful coastal setting and range of amenities, it remains an attractive destination for those seeking luxury properties in a picturesque Florida location.
References:
1. https://30ahomesfl.com/blog/santa-rosa-beach-fl-real-estate-market-prices-trends-and-forecast-2023
2. https://www.redfin.com/neighborhood/767680/FL/Miramar-Beach/Santa-Rosa-Beach/housing-market
3. https://www.rockethomes.com/real-estate-trends/fl/santa-rosa-beach