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Josh McLean

Destin through Inlet Beach; Sales and Inventory Stats for August (Condos)

09-03-08
Josh McLean

These statistics include Destin through Inlet Beach.

Sales and Inventory Report

Category - Condominiums
Statistics for Entire MLS from 1/1/2005 - 12/31/2008
Areas:14,15,16,17,18

MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2005 112 $747,609 $711,889 $506 $543,925 107.98 95.22% 1309 11.68
February 2005 127 $638,294 $620,324 $485 $518,000 95.13 97.18% 1389 10.93
March 2005 217 $727,022 $706,915 $494 $629,500 124.23 97.23% 1420 6.54
April 2005 222 $728,326 $706,945 $519 $596,500 134.72 97.06% 1531 6.89
May 2005 185 $723,761 $699,129 $522 $605,000 129.80 96.59% 1641 8.87
June 2005 178 $752,607 $730,471 $567 $606,500 102.04 97.05% 1766 9.92
July 2005 200 $706,521 $690,372 $475 $582,500 61.25 97.71% 2023 10.11
August 2005 92 $809,490 $775,542 $549 $625,000 133.98 95.80% 2140 23.26
September 2005 61 $808,578 $768,677 $510 $533,000 90.88 95.06% 2196 36.00
October 2005 91 $580,484 $543,990 $525 $292,000 165.37 93.71% 2363 25.96
November 2005 29 $901,896 $839,953 $510 $535,000 169.41 93.13% 2453 84.58
December 2005 101 $325,787 $310,227 $259 $184,000 48.55 95.22% 2553 25.27
Annual: 1615 $699,128 $674,753 $498 $552,500 110 96.51% 1898 0.00
MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2006 101 $366,592 $352,421 $255 $182,000 32.59 96.13% 2460 24.35
February 2006 72 $360,010 $339,241 $284 $202,000 54.29 94.23% 2639 36.65
March 2006 69 $616,396 $584,043 $370 $442,500 146.78 94.75% 2872 41.62
April 2006 53 $636,721 $577,793 $420 $475,000 123.16 90.74% 3209 60.54
May 2006 63 $566,961 $518,750 $392 $489,900 103.88 91.49% 3415 54.20
June 2006 71 $692,442 $650,855 $515 $550,000 144.59 93.99% 3552 50.02
July 2006 204 $482,148 $467,478 $346 $341,350 136.82 96.95% 3600 17.64
August 2006 175 $629,118 $611,276 $410 $392,700 132.86 97.16% 3539 20.22
September 2006 87 $650,243 $615,947 $380 $530,000 312.57 94.72% 3414 39.24
October 2006 77 $657,777 $638,942 $394 $587,000 374.84 97.13% 3265 42.40
November 2006 53 $730,598 $697,011 $472 $590,000 138.90 95.40% 3193 60.24
December 2006 30 $673,999 $618,960 $450 $602,500 237.64 91.83% 3124 104.13
Annual: 1055 $571,444 $546,888 $399 $430,950 169 95.28% 3190 0.00
MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2007 269 $511,627 $499,668 $425 $426,950 211.80 97.66% 2996 11.13
February 2007 109 $475,540 $458,366 $398 $417,950 270.15 96.38% 3075 28.21
March 2007 148 $479,263 $468,256 $373 $418,700 231.69 97.70% 3197 21.60
April 2007 81 $542,624 $518,573 $413 $434,700 268.78 95.56% 3361 41.49
May 2007 95 $768,038 $712,297 $462 $675,000 242.01 92.74% 3373 35.50
June 2007 125 $978,911 $926,550 $576 $912,700 210.45 94.65% 3427 27.41
July 2007 86 $891,493 $840,552 $519 $789,250 272.18 94.28% 3379 39.29
August 2007 59 $741,864 $698,110 $490 $475,000 231.95 94.10% 3359 56.93
September 2007 47 $711,240 $667,100 $452 $534,750 197.84 93.79% 3243 69.00
October 2007 39 $802,089 $740,141 $437 $550,000 197.02 92.27% 3141 80.53
November 2007 37 $673,362 $599,382 $376 $400,000 297.30 89.01% 3013 81.43
December 2007 46 $581,998 $530,331 $371 $427,500 289.50 91.12% 2926 63.60
Annual: 1141 $712,953 $669,320 $449 $478,700 247 94.96% 3207 0.00

MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2008 30 $888,096 $799,933 $431 $596,500 322.62 90.07% 2711 90.36
February 2008 36 $481,947 $439,108 $339 $319,950 273.86 91.11% 2721 75.58
March 2008 55 $596,736 $544,298 $353 $370,000 334.53 91.21% 2684 48.80
April 2008 61 $599,742 $515,986 $347 $398,000 237.94 86.03% 2693 44.14
May 2008 70 $737,544 $658,732 $367 $468,250 279.57 89.31% 2720 38.85
June 2008 64 $756,380 $700,035 $407 $547,500 253.59 92.55% 2717 42.45
July 2008 64 $641,127 $573,503 $349 $470,250 290.11 89.45% 2685 41.95
August 2008 46 $512,117 $460,193 $335 $367,500 307.59 89.86% 2670 58.04
September 2008 4 $459,250 $395,750 $258 $332,500 654.75 86.17% 2579 644.75
October 2008 0 0 0 0 0 0.00 0.00% 2578 0.00
November 2008 0 0 0 0 0 0.00 0.00% 2578 0.00
December 2008 0 0 0 0 0 0.00 0.00% 2578 0.00
Annual: 430 $657,111 $588,494 $362 $430,000 278 89.89% 2015 0.00
Annual: 2005 - 2008 4241 $647,060 $615,707 $440 $475,000 166 95.15%

Destin Sales and Inventory Stats for August (Homes) Includes Destin through Inlet Beach

09-03-08
Josh McLean
Sales and Inventory Report
Category - Detached Single Family
Statistics for Entire MLS from 1/1/2005 - 12/31/2008
Areas:14,15,16,17,18

MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2005 123 $768,882 $748,487 $361 $538,000 122.79 97.34% 718 5.83
February 2005 93 $688,747 $669,156 $314 $475,000 82.23 97.15% 772 8.30
March 2005 159 $893,034 $863,202 $389 $595,000 91.32 96.65% 854 5.37
April 2005 143 $858,371 $828,643 $396 $635,000 90.33 96.53% 960 6.71
May 2005 138 $954,701 $909,356 $430 $672,500 96.05 95.25% 1115 8.07
June 2005 145 $828,314 $794,967 $390 $585,000 78.64 95.97% 1250 8.62
July 2005 102 $918,593 $876,226 $484 $684,750 103.46 95.38% 1433 14.04
August 2005 83 $1,117,451 $1,050,873 $419 $660,000 93.04 94.04% 1560 18.79
September 2005 89 $763,930 $725,120 $346 $515,000 105.26 94.91% 1723 19.35
October 2005 61 $711,595 $638,655 $315 $529,000 72.21 89.74% 1802 29.54
November 2005 66 $782,837 $705,357 $346 $577,000 112.09 90.10% 1853 28.07
December 2005 68 $643,877 $605,668 $313 $459,500 102.41 94.06% 1881 27.66
Annual: 1270 $841,349 $802,072 $383 $569,000 95 95.33% 1326 0.00
MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2006 42 $944,555 $877,819 $361 $509,500 148.16 92.93% 1829 43.54
February 2006 49 $804,299 $756,378 $319 $425,000 129.93 94.04% 1938 39.55
March 2006 64 $795,214 $738,496 $329 $508,500 127.73 92.86% 2088 32.62
April 2006 42 $1,213,502 $1,084,967 $397 $610,000 130.33 89.40% 2324 55.33
May 2006 59 $821,216 $757,928 $324 $520,000 166.62 92.29% 2489 42.18
June 2006 60 $801,315 $717,626 $290 $530,500 140.91 89.55% 2580 43.00
July 2006 68 $872,029 $785,669 $335 $594,500 154.73 90.09% 2648 38.94
August 2006 58 $947,416 $893,224 $365 $697,500 151.72 94.27% 2596 44.75
September 2006 47 $1,104,089 $1,044,400 $355 $600,000 122.68 94.59% 2611 55.55
October 2006 54 $1,198,674 $1,085,905 $372 $642,500 150.01 90.59% 2515 46.57
November 2006 34 $890,405 $821,695 $361 $540,000 199.52 92.28% 2409 70.85
December 2006 41 $992,745 $908,699 $304 $675,000 176.07 91.53% 2366 57.70
Annual: 618 $938,015 $860,289 $340 $585,000 151 91.95% 2366 0.00
MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2007 35 $986,548 $878,286 $359 $700,000 196.51 89.02% 2246 64.17
February 2007 45 $872,323 $755,832 $302 $560,000 217.13 86.64% 2325 51.66
March 2007 61 $927,461 $849,824 $395 $521,000 208.06 91.62% 2427 39.78
April 2007 66 $927,835 $851,846 $344 $517,000 176.06 91.81% 2543 38.53
May 2007 67 $962,431 $852,637 $357 $531,000 232.10 88.59% 2664 39.76
June 2007 74 $1,169,505 $1,051,423 $390 $559,250 192.72 89.90% 2714 36.67
July 2007 72 $991,276 $885,040 $328 $612,500 210.56 89.28% 2755 38.26
August 2007 66 $1,021,511 $905,199 $342 $466,000 215.36 88.61% 2737 41.46
September 2007 48 $841,265 $776,862 $307 $527,500 154.52 92.34% 2720 56.66
October 2007 49 $830,587 $769,904 $305 $527,000 209.86 92.69% 2621 53.48
November 2007 39 $1,011,455 $891,039 $322 $475,000 162.83 88.09% 2614 67.02
December 2007 51 $826,026 $742,499 $305 $513,500 213.04 89.88% 2555 50.09
Annual: 673 $927,923 $834,562 $334 $509,000 203 89.87% 2576 0.00

MonthYearMonthly
Sales
Avg List $Avg Sale $Avg $/SqftMedian Sold $Avg DOM% Sold/ListCurrent
Inventory
Months
Inventory
January 2008 46 $717,685 $660,467 $305 $385,500 203.53 92.02% 2458 53.43
February 2008 49 $716,614 $606,238 $250 $432,500 246.77 84.59% 2456 50.12
March 2008 65 $642,889 $580,890 $247 $422,000 189.68 90.35% 2462 37.87
April 2008 67 $866,694 $764,641 $281 $428,300 252.14 88.22% 2476 36.95
May 2008 81 $742,771 $659,038 $273 $438,000 185.97 88.72% 2491 30.75
June 2008 85 $830,923 $731,335 $301 $485,000 210.81 88.01% 2488 29.27
July 2008 60 $642,380 $569,360 $224 $371,500 178.08 88.63% 2434 40.56
August 2008 58 $794,055 $691,797 $251 $352,297 199.82 87.12% 2404 41.44
September 2008 2 $348,400 $328,350 $192 $328,350 175.50 94.24% 2331 1165.50
October 2008 0 0 0 0 0 0.00 0.00% 2322 0.00
November 2008 0 0 0 0 0 0.00 0.00% 2322 0.00
December 2008 0 0 0 0 0 0.00 0.00% 2322 0.00
Annual: 513 $776,646 $684,756 $269 $425,000 204 88.41% 1833 0.00

Panama City Growth Update 8/08

08-23-08
Josh McLean

I just wanted to give everyone a quick update of what is going on in Panama City. They are making huge strides in changing the city and are well on their way. I think that within a 5 year period this place will be completely different.

Here is an article about Pier Park developed by the Simon Group, one of the nation's best developers. Pier Park is a 1.1 million square foot retail center across the street from the beach. http://www.simon.com/about_simon/leasing/LocalMall.aspx?id=1204&tab=redevelopment

This is an article about the new Panama City International Airport which is under construction. This will be the first airport built since 9/11. http://www.pcbeach.org/airport.shtml

St. Joe has also just reached an agreement with Glimcher and will jointly develope another 58 acres adjacent to Pier Park. This will be geared towards large national retail stores.

www.JoshMcleanHomes.com

Panama City Airport Update 7/08

08-23-08
Josh McLean

I would be happy to update your knowledge of the Airport project.

The entire 1300+ acres of the airport development site have been cleared and grubbed. This means all trees, roots, and vegetation have been removed.

The main access road ahs been brought to its final elevation, compacted, sub-base installed, curbed, and is ready for paving in early July.

The building pads for the Terminal, Terminal apron, and main parking lot have been finalized.

The building pad and parking area for the rental car facility has been finalized.

The primary runway taxiway is in the process of being graded and stormwater ditches are being installed.

The primary runway is being graded and brought to its final elevation.

Stormwater ponds and conveyance systems have been installed and erosion control applied in all of these areas.

The earthwork portion of this phase should be completed by November 2008, a full 3 months ahead of schedule.

We should start the paving of the runways before October of this year.

The design for the terminal, public safety building, control tower, air cargo, and maintenance buildings has been completed and bids will be solicited in early July.

The project is well underway and a substantial amount of work has been completed in the last five and a half months. The attached aerial pictures taken earlier this month might give you a full appreciation of the size of the effort and progress.

Regards,

John Zebroski

J. J. Zebroski
Project Director
Panama City/Bay County International Airport

April Market Statistics for Destin through Inlet Beach (Homes)

06-05-08
Josh McLean
Sales and Inventory Report
Category - Detached Single Family
Statistics for Entire MLS from 1/1/2006 - 12/31/2008
Areas:14,15,16,17,18

MonthYearMonthly SalesAvg List $Avg Sale $Avg DOMDiscountCurrent InventoryMonths Inventory
January 2006 42 $944,555 $877,819 148.16 7.60% 1827 43.50
February 2006 49 $804,299 $756,378 129.93 6.33% 1934 39.46
March 2006 64 $795,214 $738,496 127.73 7.68% 2084 32.56
April 2006 42 $1,213,502 $1,084,967 130.33 11.84% 2320 55.23
May 2006 59 $821,216 $757,928 166.62 8.35% 2485 42.11
June 2006 60 $801,315 $717,626 140.91 11.66% 2575 42.91
July 2006 68 $872,029 $785,669 154.73 10.99% 2643 38.86
August 2006 58 $947,416 $893,224 151.72 6.06% 2589 44.63
September 2006 47 $1,104,089 $1,044,400 122.68 5.71% 2604 55.40
October 2006 54 $1,198,674 $1,085,905 150.01 10.38% 2508 46.44
November 2006 34 $890,405 $821,695 199.52 8.36% 2402 70.64
December 2006 41 $992,745 $908,699 176.07 9.24% 2359 57.53
Total: 618 N/A N/A N/A 8.68% 2360 47.44
MonthYearMonthly SalesAvg List $Avg Sale $Avg DOMDiscountCurrent InventoryMonths Inventory
January 2007 35 $986,548 $878,286 196.51 12.32% 2238 63.94
February 2007 45 $872,323 $755,832 217.13 15.41% 2316 51.46
March 2007 61 $927,461 $849,824 208.06 9.13% 2418 39.63
April 2007 66 $927,835 $851,846 176.06 8.92% 2534 38.39
May 2007 67 $962,431 $852,637 232.10 12.87% 2654 39.61
June 2007 74 $1,169,505 $1,051,423 192.72 11.23% 2703 36.52
July 2007 72 $991,276 $885,040 210.56 12.00% 2743 38.09
August 2007 66 $1,021,511 $905,199 215.36 12.84% 2722 41.24
September 2007 48 $841,265 $776,862 154.52 8.29% 2699 56.22
October 2007 49 $830,587 $769,904 209.86 7.88% 2597 53.00
November 2007 39 $1,011,455 $891,039 162.83 13.51% 2584 66.25
December 2007 51 $826,026 $742,499 213.04 11.24% 2512 49.25
Total: 673 N/A N/A N/A 11.30% 2560 47.80
MonthYearMonthly SalesAvg List $Avg Sale $Avg DOMDiscountCurrent InventoryMonths Inventory
January 2008 46 $717,685 $660,467 203.53 8.66% 2412 52.43
February 2008 49 $716,614 $606,238 246.77 18.20% 2397 48.91
March 2008 64 $613,950 $554,810 190.84 10.65% 2391 37.35
April 2008 62 $878,201 $774,214 250.03 13.43% 2393 38.59
May 2008 5 $1,047,400 $891,835 143.60 17.44% 2393 478.60
June 2008 0 0 0 0.00 0.00% 2399 0.00
July 2008 0 0 0 0.00 0.00% 2399 0.00
August 2008 0 0 0 0.00 0.00% 2399 0.00
September 2008 0 0 0 0.00 0.00% 2399 0.00
October 2008 0 0 0 0.00 0.00% 2399 0.00
November 2008 0 0 0 0.00 0.00% 2399 0.00
December 2008 0 0 0 0.00 0.00% 2399 0.00
Total: 226 N/A N/A N/A 5.70% 998 54.65

Grand Total: 2006 - 2008 1517 N/A N/A N/A 8.56% 1973