What does the future hold for the 2025 Real Estate Market on the Emerald Coast?  In order to answer this question, we need to first look at where we ended 2024.  Caution:  I’m about to hit you with some nerdy statistics.  (If you want the summary – skip to the end).  I’m going to look at single family home sales (including townhomes) in Okaloosa County and also Niceville.  I will leave condos out of the data since they are a completely different animal.

Okaloosa County

The median sales price in December 2024 was $330,750, down -8.02% from $359,588 from the previous month and equal to December 2023.  The average sales price in December 2024 was $410,328, down -10.46% from $458,284 from the previous month and -15.67% lower than $486,575 from December 2023.

The number of properties sold in December 2024 was 272, up 5.43% from 258 from the previous month and 9.24% higher than 249 from December 2023.

The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s
market, a downward trend tends to indicate a move towards seller’s market. The DOM for December 2024 was 84 days, down -9.68% from 93 days from the previous month and 37.70% higher than 61 days from December 2023. The December 2024 DOM was at its highest level compared with December 2023 and 2022.

The number of properties for sale in December 2024 was 1,019, down -14.15% from 1,187 from the previous month and equal to December 2023. The December 2024 inventory was at its highest level compared with December 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for
buyers.

Niceville 32578

The median sales price in December 2024 was $408,000, down -18.38% from $499,900 from the previous month and -18.38% lower than $499,900 from December 2023.  The December 2024 median sales price was at its lowest level compared to December 2023 and 2022. The average sales price in December 2024 was $545,976, equal to the previous month and -4.18% lower than $569,805 from December 2023.

The number of properties sold in December 2024 was 38, down -2.56% from 39 from the previous month and 52.00% higher than 25 from December 2023.

The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The DOM for December 2024 was 54 days, down -34.94% from 83 days from the previous month and 50.0% higher than 36 days from December 2023. The December 2024 DOM was at its highest level compared with December 2023 and 2022.

The number of properties for sale in December 2024 was 111, down -15.91% from 132 from the previous month and 15.62% higher than 96 from December 2023. The December 2024 inventory was at its highest level compared with December 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2024 MSI of 2.92 months was at a mid-level compared with December 2023 and 2022.

The Bottom Line Summary

What does the future hold for the 2025 Real Estate Market on the Emerald Coast?  Based on what happened post-election and based on the Fed pulling back on the number of predicted interest rate cuts for 2025, I would expect 2025 to be only slightly better than 2024.  Home prices will see a slight increase (let’s face it, inventory is still low).  Sellers will continue to offer concessions because of the days on market.  Interest rates will be only slightly better than last year.  Sellers should list sooner knowing that it may take longer to sell.  They should also be realistic about pricing.  Buyers should look for homes with an assumable mortgage with a nice low interest rate.

When selling a vacant home, a big question is to stage or not to stage.   When selling your home, you’re essentially auditioning for buyers—and like any good audition, you want to leave a lasting impression. So, should you leave the house bare like a “before” photo on HGTV, stage it with real furniture like you’re hosting an open house for the royal family, or get all techy and virtually stage it like you’re selling a house in The Sims?

Leaving the Home Vacant – No Staging

Pros:

• No Furniture to Break: Look, if there’s no furniture, no one can spill coffee on it, right? Stress-free living (well, for you anyway).
• Buyer’s Imagination: They can imagine the space however they want! Maybe they see a cozy living room, maybe a ball pit. Who knows? The sky’s the limit!
• Cheaper than a Cup of Coffee: You don’t have to spend a dime on furniture or decorators. You just need a broom and some hope.

Cons:

• Echo… Echo…: A vacant home can feel eerily empty, like a haunted house, minus the ghosts. Not exactly cozy.
• Room-Sizing Gymnastics: Buyers might start wondering if their king-sized bed will fit in the bedroom or if they need to downsize to a toddler bed.
• Flaws on Display: Every scratch, dent, and creaky floorboard is just waiting to shout, “Hey, fix me!” Nothing to hide behind here.

Staging with Actual Furniture

Pros:

• Instant “Wow” Factor: A beautifully staged home makes buyers swoon. It’s like putting on your best outfit for a date—you want to impress, not show up in sweatpants.
• Room Functionality 101: You’re basically saying, “Hey, this is a dining room, not a ping pong arena.” You know, in case they were confused.
• More $$ in Your Pocket: A well-staged home can make buyers think, “This place is worth every penny… and maybe a few more!”

Cons:

• Cha-Ching: Renting furniture and hiring a stager isn’t cheap. And suddenly, that cute armchair in the corner is costing more than your Netflix subscription for a year.
• Logistical Circus: It’s like moving twice—furniture in, furniture out. You may find yourself making furniture arrangements more than dinner plans.
• Maintenance Mania: You’ll be that person saying, “Take your shoes off!” at every showing. And praying no one knocks over that very fragile (and expensive) decorative vase.

Virtual Staging

Pros:

• Cheap and Cheerful: No need to hire movers or rent furniture. Just let a designer with Photoshop skills do their magic—boom, your home looks like a million bucks (virtually).
• Unlimited Makeovers: Want a chic modern look? Done. Prefer rustic farmhouse? Easy. Want a life-sized Tyrannosaurus Rex in the living room? Probably not recommended, but hey, it’s possible.
• No Furniture, No Fuss: Since it’s all digital, you won’t have to worry about someone knocking over a lamp or scratching the floor. Perfect for the clumsy among us.

Cons:

• Virtual vs. Reality: The pictures online look like a magazine spread, but when buyers walk in, it’s a little more minimalist (a.k.a. empty). Could be a bit of a letdown.
• Surprise!: Buyers might feel like they’ve been catfished if your virtually staged home looks like a chic penthouse online but turns out to be an IKEA puzzle in real life.
• No Tactile Experience: As nice as virtual staging is, buyers still can’t plop down on that perfectly placed sofa and imagine a Netflix marathon.

Which is Better?

• Vacant Homes: Best if you’re going for that “modern art gallery” look or want buyers to focus on the potential. Just pray their imagination is top-notch.
• Staging with Actual Furniture: This is the “all in” option. It’s like dressing your home in designer clothes, but remember, designer prices often follow.
• Virtual Staging: Ideal for giving buyers a “look but don’t touch” experience. Just be ready for the awkward conversation when they ask, “So, where’s that couch I saw in the photos?”

So, to stage or not to stage your vacant home?  In the end, whether you leave your house as a blank canvas, dress it up with actual furniture, or go virtual, the key is to help buyers see it as their future home!  Not sure what it best for your home – Call me, I can help!

Selling a home this year has been a little more work, but there are several strategies to help your home sell faster. Here’s a comprehensive list based on my insights:

Key Factors for Selling Your Florida Home Faster

In Florida, insurance has become a pretty big deal.  Most buyers will be required to obtain a 4pt inspection on a new home in order to get insurance.  The age and conditions of your Roof, HVAC, and Hot Water Heater are important factors.  Speak with your real estate agent or insurance agent for details.  Ensure these systems are in good working order. Provide documentation of recent inspections or replacements to reassure buyers.

Flooring:

Consider replacing old carpeting with modern, low-maintenance flooring like laminate or vinyl, which is often more appealing to buyers. If replacing flooring isn’t feasible, a deep clean can help make carpets more presentable.

Kitchen and Bathroom Updates:

If you can’t afford a complete update, focus on minor renovations like new countertops, fixtures, or cabinet hardware. Even a fresh coat of paint can make a big difference.

Deep Cleaning Sells:

A spotless home creates a great first impression. Invest in a professional cleaning service for a thorough deep clean.  Do not underestimate the importance or power of this.  I have had many buyers walk out of a home without looking due to lack of cleanliness.

Neutral Paint Colors:

Freshly painted walls in neutral shades make the home feel larger and allow buyers to envision their own decor.

Declutter Your Home:

Clear out personal items and excess furniture. A tidy space helps buyers visualize themselves living in the home.  Counters in the kitchen and bath should be empty minus a few decorative items.  The same goes for dresser tops, nightstands and end tables.

Updated Light Fixtures:

Swapping out dated light fixtures for modern ones can enhance the home’s appeal significantly without breaking the bank.

Outdoor Enhancements

Curb Appeal:

Maintain your lawn, trim hedges, and keep flower beds tidy. Fresh mulch can enhance the look of gardens.

Pressure Washing:

Clean driveways, sidewalks, and patios to give a fresh appearance.

Outdoor Living Space:

If possible, stage any outdoor spaces to highlight Florida’s lifestyle. Simple furniture or decor can make a patio or porch more inviting.
Additional Tips

Working with a Knowledgeable Realtor:

A good realtor can provide insights on the local market, help you price your home competitively, and recommend service contracts to make your home more attractive.  They will also in list the help a professional photographer to capture your home in its best light.  Good visuals attract more potential buyers.

Flexible Showings:

Make your home available for showings at various times, accommodating potential buyers’ schedules.

By focusing on these strategies, you can enhance your home’s appeal and help your home sell faster.