Despite Weather Woes And a Slowing Market, James Watts Says 30A’s Beachfront is Still Booming

Luxury broker James Watts of Coastal Abode Real Estate and Development said business is booming in Walton County, Florida, as home prices are defying national trends and rising. 

Watts, who is an associate broker of Coastal Abode, said Walton County and the 30A area is one of the fastest growing counties in the nation, with its population growing by more than 6 percent from 2020 to 2021. 

He said it’s residential movers who are coming to the area and are a “growing segment” of the market. 

Watts added the past three years have been “nuts” as Florida has the highest percentage of high-net-worth individuals than any other state — and this is evident in home prices. 

Watts said prices in the area he covers, which includes Destin, Santa Rosa, to Panama City Beach, are routinely over $4 million. He sees mostly cash buyers. 

While admitting he has seen the number of transactions slow in recent months, Watts said the average sale price has grown month-over-month compared to last year. He added there are several homes that sell for upward of $20 million each. 

“That’s never happened down here,” he said, adding the inventory is lower than usual but demand is still high. 

“We’re still seeing homes go under contract for big numbers,” he said. 

While COVID-19 put an emphasis on remote work, Watts said the market he covers has been working remotely since before COVID-19. 

“We were seeing those trends already. COVID-19 ramped that up tremendously,” he said. 

Watts added people have the mentality of, “if I’m going to be stuck in a house, rather be a beach house.” 

Watts added his clientele is still coming from the traditional areas of Georgia, Mississippi, Alabama, and Louisiana, but is now beginning to see buyers from parts of Oklahoma, Colorado, and Arizona, with even a smattering of California customers.