2009 has been a slow year for home sales in Rosemary Beach. As of mid-July 2009 only four homes have sold in Rosemary Beach.
204 East Water Street sold for $605,000 and was a Short Sale
77 Bridgetown Avenue sold for $853,125
37 Green Turtle Lane sold for $1,000,000 and was a Short Sale
318 West Water Street sold for $1,700,000
With 93 homes currently on the market in Rosemary Beach, we have a lot of available inventory to work with. Rosemary Beach is the mecca for luxury homes along Scenic Highway 30A and is well known and favorite destination for many visitors. The 93 homes that are for sale have a wide price range from the low of $419,000 to a high of $5,999,000. The average price of all the homes for sale is $1.8 million which represents roughly $658 per square foot. We have seen price declines in many luxury areas such as WaterColor and WaterSound. WaterColor home sales are up over 34% from the same 6 month period in 2008 as a result.
Rosemary Beach has not experienced the drastic price reductions we have seen along Scenic Highway 30A and many of their high end luxury homeowners are waiting out the market. They are in no hurry to sell their precious piece of paradise in a fire sale.
We recently have seen a few homes in Rosemary Beach go under contract. One of particular interest is 72 Windward Lane. This is a gorgeous gulf front home that is currently listed for $3.7 million. This wonderful 5 bedroom, 4 bath 2,500sf home is what luxury living on the Gulf is about. It is postive news to see such an exclusive gulf front home in Rosemary Beach go under contract and hope that we will continue to see more buyers flock to one of the premier luxury destinations in the country.