Combined Residential Perspective
Navarre Beach has not escaped the national real estate correction so prevalent throughout the country. Click here for the Standard & Poor’s Case Shiller Index Home Price Index.
The three graphs reflecting Navarre Beach’s current market are classic examples of a market in correction. The phases are predictable, growth of inventory, market stagnation, accelerating price reduction followed by increased sales followed by market stabilization.
Click the thumbnails to see larger graphs.
Navarre Beach Combined Residential Inventory Graph
Inventories have steadily grown over the last thirty months climbing to an all time high of 350 exclusive of properties for sale by owner. At current absorption this represents 4.5 years of inventory.
Navarre Beach Total Residential Average Sale Price Graph
The sales prices show a steady decline since the market highs of 2005.
Navarre Beach Total Residential List Price/Sales Price
The relatively stable list price to sale price ratio indicates sales at the lower end of the sales range rather than a significant overall price correction. This is indicative of further pricing reductions to follow.
