An interesting article is circulating among local and national media discussing the state of the current real estate market being “A Bipolar Market”.  What exactly does this mean exactly and does it pertain to our current market in South Walton?  Michelle Conlin of the Associated Press, explains in her article that there are 2 sectors of the real estate market: luxury and non-luxury.  While historically both sectors have followed the same trend in regards to rise and fall, today’s market is seeing an opposite outcome creating a “Bipolar Market”.

“In the housing market inhabited by most Americans, prices have fallen 30% or more since the peak in 2007.  That’s a steeper decline than during the Depression…. Then, there is the other housing market, occupied by 1.5% of the U.S. population, according to Zillow.com… Here, the houses have outdoor kitchens and in-home spas.” (reference the complete article at MSNBC)  Homes starting at $1 million dollars have risen 0.7% since February, according to Zillow.  “Luxury is the best performing segment of the housing market right now,” says Zillow.com chief economist Stan Humphries.

Scenic 30-A Real Estate is a perfect example of this paradigm shift and are on the positive end of the Bipolar Spectrum.  We have been experiencing an improvement in market conditions on Scenic 30A and are continuing to see steady growth.   The first 2 charts reflect real estate activity specific to Scenic 30A from 2007 to present (data collected from Emerald Coast Association of Realtors).  The last two charts were imported from Zillow.com and show the overall home values in the US vs. home values in Santa Rosa Beach