What is happening at Majestic Beach Resort in Panama City Beach, Florida? 

Majestic Beach is a newer condo resort complex with multiple swimming pools, world class onsite gym and spa, private movie theater, Starbucks and onsite restaurants, all nestled right on the sugar white sands of Panama City Beach. Majestic Beach Resort is a favorite of vacationers coming to Panama City Beach to enjoy the crystal clear waters, squeeky white sand beaches and the freshest seafood along the Gulf Coast.  The new Northwest Florida Beaches International Airport just made it even easier to visit Panama City Beach with the addition of Southwest Airlines.

The market at Majestic Beach is certainly a buyers market with many of the units selling for less than 1/2 of their original price. 

Sales and Inventory Report for TOWER I
 
 
MonthYearMonthly
Sales		Monthly
Volume		Avg List $Avg Sale $Avg $/SqFtMedian Sold $Avg DOMAvg CDOM% Sold/ListCurrent
Inventory		Months
Inventory
January 2010 3 $468,500 $161,300 $156,166 $200 $156,500 169 184 96.81% 47 15.66
February 2010 1 $175,000 $199,500 $175,000 $198 $175,000 67 208 87.71% 50 50.00
March 2010 3 $992,500 $321,633 $330,833 $207 $340,000 136 398 102.86% 49 16.33
April 2010 2 $300,000 $156,350 $150,000 $200 $150,000 488 499 95.93% 54 27.00
May 2010 1 $183,000 $178,500 $183,000 $191 $183,000 41 41 102.52% 55 55.00
June 2010 1 $122,000 $144,900 $122,000 $284 $122,000 142 142 84.19% 62 62.00
July 2010 0 0 0 0 0 0 0 0 0.00% 58 N/A
August 2010 1 $116,000 $123,375 $116,000 $212 $116,000 71 142 94.02% 57 57.00
September 2010 4 $879,000 $230,500 $219,750 $184 $222,500 103 250 95.33% 49 12.25
October 2010 1 $145,000 $139,000 $145,000 $192 $145,000 194 194 104.31% 47 47.00
November 2010 2 $242,000 $134,950 $121,000 $189 $121,000 259 378 89.66% 42 21.00
December 2010 3 $571,000 $206,966 $190,333 $184 $208,000 71 86 91.96% 37 12.33
Annual:   22 $4,194,000 $198,162 $190,636 198 $159,500 161 249 96.20% 51 27.81
 
MonthYearMonthly
Sales		Monthly
Volume		Avg List $Avg Sale $Avg $/SqFtMedian Sold $Avg DOMAvg CDOM% Sold/ListCurrent
Inventory		Months
Inventory
January 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
February 2011 3 $655,000 $234,333 $218,333 $186 $245,000 57 186 93.17% 35 11.66
March 2011 1 $285,000 $289,000 $285,000 $180 $285,000 321 321 98.61% 34 34.00
April 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
May 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
June 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
July 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
August 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
September 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
October 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
November 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
December 2011 0 0 0 0 0 0 0 0 0.00% 34 N/A
Annual:   4 $940,000 $248,000 $235,000 184 $262,500 123 220 94.75% 34 102.00
 
Annual: 2010 - 2011 26 $5,134,000 $205,829 $197,461 196 $167,500 155 244 95.93% 42 38.76

TOWER II

MonthYearMonthly
Sales		Monthly
Volume		Avg List $Avg Sale $Avg $/SqFtMedian Sold $Avg DOMAvg CDOM% Sold/ListCurrent
Inventory		Months
Inventory
January 2010 3 $770,300 $273,466 $256,766 $183 $282,500 116 116 93.89% 24 8.00
February 2010 0 0 0 0 0 0 0 0 0.00% 26 N/A
March 2010 2 $413,000 $226,250 $206,500 $191 $206,500 42 42 91.27% 24 12.00
April 2010 2 $537,000 $279,450 $268,500 $191 $268,500 59 319 96.08% 25 12.50
May 2010 0 0 0 0 0 0 0 0 0.00% 25 N/A
June 2010 1 $196,500 $199,900 $196,500 $201 $196,500 67 285 98.29% 23 23.00
July 2010 2 $500,000 $273,950 $250,000 $179 $250,000 69 85 91.25% 22 11.00
August 2010 0 0 0 0 0 0 0 0 0.00% 22 N/A
September 2010 1 $180,000 $180,000 $180,000 $184 $180,000 140 140 100.00% 22 22.00
October 2010 3 $848,900 $294,633 $282,966 $183 $288,900 65 65 96.04% 21 7.00
November 2010 1 $211,000 $249,000 $211,000 $165 $211,000 27 27 84.73% 20 20.00
December 2010 2 $462,500 $235,000 $231,250 $188 $231,250 242 242 98.40% 16 8.00
Annual:   17 $4,119,200 $256,617 $242,305 185 $240,000 94 139 94.42% 22 15.52
 
MonthYearMonthly
Sales		Monthly
Volume		Avg List $Avg Sale $Avg $/SqFtMedian Sold $Avg DOMAvg CDOM% Sold/ListCurrent
Inventory		Months
Inventory
January 2011 1 $200,000 $215,000 $200,000 $204 $200,000 35 35 93.02% 15 15.00
February 2011 2 $402,900 $210,200 $201,450 $160 $201,450 203 228 95.83% 16 8.00
March 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
April 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
May 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
June 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
July 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
August 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
September 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
October 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
November 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
December 2011 0 0 0 0 0 0 0 0 0.00% 19 N/A
Annual:   3 $602,900 $211,800 $200,966 175 $200,000 147 164 94.88% 18 72.00
 
Annual: 2010 - 2011 20 $4,722,100 $249,895 $236,105 184 $240,000 102 143 94.48% 20 24.00

 

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