Panama City Beach Real Estate News & Market Trends
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What’s under contract? What sold? What’s available to buy at Laketown Wharf Resort in beautiful Panama City Beach, Florida?
You’re at the right place to find out the answers to those questions.
So let’s dive in and see what’s under contract!
Four are under contract. That’s down from nine last month. Two are one bedroom units, one each Lakeview and Gulfview. The other two are two bedroom units, one Lakeview and one Gulfview.
Under contract numbers are a good indicator of next month’s sold numbers. With only four under contract, that means there will probably be around 4-6 solds next month. The only way it will get higher is if we get some quick cash contracts by the middle of the month.
This month’s closed sales were 10 condos. I reported 9 were under contract in the last report. See how those numbers are closely related.
At this pace, November closed sales will be only 40% of October sales.
July was the worst month this year but we have seen an increase in sales through October. However we are now taking a downward ride again and could possibly equal that worst month. The ups and down and zigs and zags in this current market is enough to make you sick.
What Sold this past month?
Ten sold. Half were one bedroom condos. I believe the lower price point of one bedrooms, especially Lakeview units make them more affordable for more potential buyers. The corner three bedroom units are popular. With 15 Gulfview and 23 Lakeview total out of 765 condos at Laketown Wharf, they are selling the quickest. I know of another off market sale of one of those Gulfview units. It sold in days!
Two corner Lakeview units sold last month and there are two on the market.
The weather today is beautiful! It’s a comfortable 74 degrees. We’re on beach time and in no hurry. Condos at Laketown Wharf are like today’s weather. They’re comfortable with a great view and the prices are currently mild. And they don’t seem to be in a hurry to go too far one way or the other.
Laketown Wharf Resort market report on sold condo prices and listings for sale in Panama City Beach. You will know how many condos have sold at LTW recently and what the prices are for condos available to buy. Scott Pope with Nautical Properties presents this informative video so you can be informed about condo unit prices at Laketown Wharf. LTW has one bedroom, two bedroom, and three bedroom condos. There are units that have Gulfviews and some that have lake views. Prices range from $312,000 to $580,000. The Laketown Wharf market report is done monthly, posting on the first of every month.
Scott (Lic Real Estate Broker) has 8 years experience with Panama City Beach condos and real estate. You can contact him: 850-329-5910 scott@nautical.properties
Mark (Lic. Broker Associate) has 17 years real estate experience and earning the Graduate, REALTOR® Institute (GRI) designation in 2007.You can contact him: 334-596-1474 mark@nautical.properties
Transcript
0:02
(waves crashing)
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- Hi, I'm Scott you're condo guide for the day
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for Laketown Wharf.
0:09
In July sales were slow.
0:11
We had a total of eight condos
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that went under contract in July,
0:15
but can you believe that five of those happened
0:17
in the last 10 days of the month?
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The best month we had in sales here at Laketown Wharf
0:22
was April.
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We had 23 sales that month.
0:25
Then in May, it went down to six.
0:27
June, went down to five, and July we only had four.
0:33
Now for the four condo sales in Laketown Wharf in July,
0:37
there were two, one bedroom units that were sold.
0:41
One was a Gulfview at $380,000.
0:45
The Lakeview sold for $320,000.
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A two bedroom Lakeview sold for $387,500.
0:53
And one Gulfview, three bedroom corner unit
0:56
that sold for $550,000.
0:59
Before we move on,
1:00
please like this video and subscribe to our channel.
1:02
So you won't miss the next update.
1:04
In May, there were 18 listings,
1:07
that number went up to 40 in June
1:09
which is slightly more than double from May.
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The July listings increased to 51,
1:14
which is a 30% increase from June.
1:16
Can you believe since May,
1:18
the listings have tripled here at Laketown Wharf?
1:21
Okay, in July we have 22, 1 bedroom units for sale.
1:25
There's 10 Gulfview's at 380,000 to 420,000.
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And then there's 12 Lakeview's
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ranging from 312,000 to 425,000.
1:36
That's three more available in June than in June.
1:40
And then there's 17 two bedrooms,
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as you can see over here on the side,
1:45
nine of which are Gulfview
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and the eight other ones are Lakeview.
1:50
Now looking at the three bedrooms,
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these are the 1,681 square foot condos.
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There's seven of those, five of which are Gulfview,
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ranging from 549,000 to 580,000.
2:02
There's two Lakeview's there from 495,000 to 540,000.
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We have almost doubled how many we had from last month.
2:12
We went from three last month to seven this month.
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On the five corner units we have available now,
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there's one Gulfview at 600,000 and four Lakeview's.
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So that's what we've got here
2:25
at Laketown Wharf this month in July.
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Well, that concludes our market report for Laketown Wharf.
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Thanks for watching, please like, and subscribe
2:32
to our channel, and also look in the links below
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or the comments section rather,
2:37
and there'll be some links there
2:38
for you to follow and get additional information.
2:40
This was Scott Pope, your guide for Laketown Wharf Condos.
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This efficiency makes a great beach retreat that can pay for itself when you're not using it. HOA ($410 est.), property taxes ($550 est.), and insurance ($600 est.) is reasonable. It had a $10K renovation a year ago. A new, bright and roomy shower, new vanity with storage, new flooring, painted, keyless entry handset, and kitchenette. It has a sitting area with new loveseat that you won't find in any other efficiency. It's fully furnished and ready for both personal enjoyment and profit.
This unit grossed $8050 in 2018! It rented for $75 a night during high season.
The last efficiency sold was not furnished, not updated, and the kitchenette was a wreck (see MLS 678142).