Real Estate Value in Santa Rosa Beach is Increasing
Santa Rosa Beach is one of Florida’s most prestigious beach communities with some of the most desired real estate on the Emerald Coast. Occupying the southern shores of the Choctawhatchee Bay, Santa Rosa Beach includes 65 square miles of luxury beach houses, fine dining, exquisite art, performance venues and eco-activities. The city was founded in 1910 but has kept up with the times and seen great innovations throughout its history. Amphitheaters, spas and upscale shopping are only a few of the charms that make Santa Rosa Beach a complete package for vacation home buyers.
As the saying goes, the only thing you can count on is that everything will change. And because of this, scientists and statisticians have developed ways of analyzing trends to help project aspects of the future. One definite trend that housing market analysts have identified over the last few months is that real estate values are increasing. It’s a fact. This is a welcome report for homeowners across the country, and it also means that potential home buyers will benefit by investing sooner rather than later. But while property values are on the rise, so are mortgage rates. The 30-year fixed-rate mortgage has long maintained a national average of about 3.5%, but this week it’s risen to a whopping 4.2%. With a week-over-week increase like that, those interested in securing a mortgage should do so quickly.
During this time of fluctuation, the Santa Rosa Beach housing market has been doing particularly well. The median estimated market value rose 9.9% from last year to $325,000, and the average list price rose as well, moving up 11.8% to $459,000. The biggest increase of all, though, was the median sale price, which rose a colossal 20.1% to $322,700. Over three-fourths of all homes in Santa Rosa Beach is increasing in value, which is approximately 16% more than last year and the number of homes that were sold for gain has risen 8% since last year. Situated just a short drive from Laguna Beach yet with so much to do in the city, itself, it’s no wonder these vacation homes are only on the market for around 200 days.
While life in Santa Rosa Beach is undeniably lavish, there is a great deal of diversity when it comes to culture, lifestyle and activities. Yahoo! Travel named Santa Rosa Beach one of the “10 Best Beach Destinations for 2011” and commended its “lapping waves and cool sand,” among other delights. The self-labeled artists’ colony offers many outlets for enjoying creative ingenuity. Among these is an abundance of local galleries, performances at both the Seaside and Topsail Hill amphitheaters, concerts at the Baytown Wharf and unique upscale cuisine. Those with a fondness for the outdoors will appreciate Santa Rosa Beach’s ample opportunities for adventure. Vacationers can feel free to explore the environment in Eden Gardens State Park or dip into the bay at one of the many kayak rental spots. Fun is waiting for the whole family at the E.O. Wilson Biophilia Center that frequently features special events like “Alligator Adventures”. While the kids are at a summer day camp, parents can enjoy one of the town’s Parents’ Nights Out and unwind with a sunset movie on the beach. Many residents take a break from their daily lives and refresh with a bike ride courtesy of one of the many rental sites in the area and then relax at the Serenity by the Sea spa.
Based on today’s market reports, one thing is certain: Real estate values are on the rise. So start by taking a look at vacation homes in the colorful Santa Rosa Beach and begin your investment early.