Is it Time to Sell Your Beach Home?
Is it time to sell your beach home in Panama City Beach or along the Emerald Coast? Well if you have been thinking about selling, now is the time! There are a lot of active buyers competing for a relatively low number of available homes and condos. Thus sellers are in the driver’s seat in the very HOT Panama City Beach real estate market.
Why This Is a Great Year to Sell Your Vacation Home
Some are asking why is it a good time to sell? As vaccines are administered and travel resumes, many across the United States are beginning to plan for those long-awaited vacations that they missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:
“Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”
It’s not surprising that there’s an increase in demand for vacation homes in the coveted Panama City Beach area. Where the beaches are beautiful, sunshine is abundant and the Emerald Coast is calming.
Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB explains:
“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area. More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”
The demand for Panam City Beach vacation homes has increased and will continue to rise as we head into summer. If you own a house along the Emerald Coast and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities in our local market.
Do you have further questions regarding making a winning offer? To learn more, reach out to our team. With two office locations, Life’s A Beach Real Estate located in Panama City Beach. And Life’s A Beach Luxury Real Estate located in Destin. We are here to answer your questions and help you find your piece of paradise.