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.
Many Gulf front complexes have little to no landscaping. Nor did they plan the use of their space very well. They either skimped to pocket more profits, or they just had no vision. But that's not the way Palace Sands' developer operates. His goal is for you to own a crown jewel you'll be proud to display to all your family and friends.
At Palace Sands, they even planned for the owner who arrives in their motorcoach by providing a parking area for them.
The tropical landscaping makes the "Palace" an oasis among the desert compared to other condos.
Palace Sands is going to be palatial. And these renderings of the pool area and the grounds prove it! They were done by EDSA Landscape Architects Fort Lauderdale, Florida. They have four US offices and one in Shanghai, China.
To see more information about Palace Sands condominiums, including floor plans ... click the logo below.
The Best kept SECRET in Panama City Beach...St. Thomas Square (STS)! STS is a Grand Lagoon waterfront property with a boat dock and Gulf access–about 20 minutes to the pass. And it's only a block to the BEACH!
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).