Patrons snapping up waterfront houses on Florida’s Panhandle could converse with a slight Southern twang.
And possibly they grew up consuming grits and nonetheless drink their candy tea from a Mason jar. However take into account your self warned: By no means, ever name the state’s Gulf Coast by its nickname.
“We get that ridiculous label of Redneck Riviera, nevertheless it’s a extremely prosperous market,” says luxurious real-estate agent Cindy Cole. “My typical buyer is an entrepreneur who could or will not be retired. Now we have one of many nation’s most interesting personal airports that on any given day is lined with personal jets,” she says, referring to Destin Govt Airport. “Yachting is prevalent—we’ve got world-class marinas. It’s an inexpensive market with quite a lot of prosperous individuals who select to reside a bit of extra low-key way of life.”
The popular time period is “Emerald Coast,” which in Florida sits roughly between Pensacola and Panama Metropolis. And recently, the marketplace for luxurious waterfront houses has been “loopy gangbusters,” says Ms. Cole of Cindy Cole Positive Properties, Keller Williams Realty Emerald Coast.
The Emerald Coast’s Not-So-Hidden Gems
Patrons are scooping up luxurious waterfront houses alongside the 24-mile stretch of Hwy. 30A.
This yr by way of Sept. 29, 2,280 single-family houses have been offered on the Emerald Coast, up 19% over the identical interval final yr, in accordance with the Emerald Coast Affiliation of Realtors. The typical sale value to this point in 2020 is up 25%, to $837,917, in contrast with $671,477 in 2019. Gulf-front houses in communities alongside the 24-mile stretch of Hwy. 30A command high greenback, with a mean sale value of $1.62 million.
A lot of the spike might be attributed to the pandemic, Ms. Cole notes, with potential patrons coming from Nashville, Atlanta and Birmingham, Ala., all cities inside an eight-hour drive away. However patrons from Chicago and the Northeast additionally determined they’d relatively hunker down someplace heat, in a extra spacious residence, and positioned on the water.
In June, Greg and Caryn Zeman paid $4.05 million for a trip residence on Choctawhatchee Bay in Destin. The sale included all of the furnishings, enabling the couple and their 14-year-old son, Matthew, to flee their Chicago-area residence amid the pandemic.