2010 started out with a bang along the Northwest Florida’s Emerald Coast and then the oil spill came and we hit an oily wall! Once BP capped the well we saw our numbers jump up in August and we are hoping that we can salvage some business during our late summer early fall season.
Your Paradise Group lost 3 contracts directly related to the oil spill. Just last week one of the buyers has expressed interest in our listing again now that they have been convinced our beaches DO NOT have oil on them!
Our prices have been very stable for the past 6 months indicating we are at the bottom and the general concensus is that we will probably stay here throughout the remainder of the year.
Condo sales are up 12% over this same time period last year and inventory is down, but the short sales and foreclosures continue to supress the prices for now.
We definitely have the investors back in our market and that is a strong signal we are seeing the light that was dimmed thanks to BP.