Annual Overview: Normandy Shores 2024 Real Estate Market – Key Trends and Analysis
Embarking on a real estate journey in Normandy Shores? Let’s streamline the process—and perhaps even enjoy it—with expert insights from those who know this market best. In its inaugural year of detailed tracking, the Normandy Shores real estate market in 2024 has been a revelation, showcasing unique opportunities within a distinctly high-end market. Despite global economic headwinds, Normandy Shores held its allure, reflecting a robust interest in its luxurious waterfront properties.
Cracking the Pricing Code
This year, Normandy Shores displayed a notable disparity between asking prices and final sale prices, with homes closing at about 8% below the listed price. Active listings averaged $4.0 million, while homes closed at an average of $2.7 million. This variance highlights a market where negotiation plays a key role, and realistic pricing becomes the cornerstone of successful sales. Sellers aiming high met a market ready to negotiate, resulting in a healthy sales volume that reached $57.0 million.
The Pace of Play
The pace of sales in Normandy Shores has been markedly slower compared to other regions, with sold properties taking an average of 195 days to close—significantly longer than the current listings’ average market time of 110 days. This indicates a market where patience is necessary, and both buyers and sellers must be prepared for a longer transaction process. This leisurely pace suggests a market that values thorough deliberation over hasty decisions.
Value Assessments
The price per square foot in Normandy Shores also speaks volumes about its market positioning. Closed properties fetched $1,204 per square foot, while active listings are slightly higher at $1,284 per square foot, underscoring the area’s high-end appeal. Properties that blend right pricing with standout features tend to navigate the market more effectively, attracting discerning buyers willing to invest in premium living.
What This Means for You
For those considering Normandy Shores, the market dynamics suggest a landscape rich with opportunity, but one that also demands a strategic approach. Sellers should be mindful of pricing strategies to align with buyer expectations, while buyers can find significant value by engaging with a knowledgeable partner who understands the intricacies of this unique market.
Looking Ahead to 2025
As we look forward to the next year, Normandy Shores is positioned to continue attracting attention in the luxury real estate sector. With its picturesque settings and substantial properties, it remains a compelling choice for those seeking exclusivity and elegance. Success in this market will hinge on insightful market analysis and strategic positioning—key areas where expert guidance can make a significant difference.
Embrace the possibilities in Normandy Shores real estate. Whether you are buying or selling, partnering with experienced professionals can transform complex market challenges into rewarding opportunities.
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Normandy Shores Real Estate Benchmark
PRICE EXPECTATIONS GAP
– There’s a significant gap ($1.3M) between closed prices ($2.7M) and active listings ($4.0M)
– This suggests sellers might have unrealistic price expectations, given the 8% average discount on closed properties
MARKET ACTIVITY
– With 21 closed sales vs 17 active listings in 12 months
– Roughly 3.6% of total households (21 out of 585) sold in the past year
– This indicates a relatively active market for a luxury segment
TIME TO SELL
– Closed properties took 195 days on average to sell
– Current listings at 110 days suggest either:
* Market conditions are improving
* Current listings haven’t yet reached their full marketing time
PRICING TRENDS
– Higher price per sq ft for active listings ($1,284 vs $1,204)
– Combined with the 8% average discount, suggests buyers are negotiating significantly
MARKET TYPE
– High average prices and price per square foot indicate a luxury market
– Substantial sales volume ($57.0M) despite relatively few transactions
– Longer marketing times suggest a more selective buyer pool
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Normandy Shores Real Estate Market Report for 2024
The general figures for Normandy Shores homes in 2024 are the following:
- There were 15 Normandy Shores homes sold in 2024, compared to 12 sold in 2023. The median sales price was $1.799 Million in 2024, compared to $1.9 Million in 2023.
- The average price per square foot was $1,142 in 2024, compared to $1,117 in 2023
- The highest sale in Normandy Shores in 2024 was also the highest price per Sq.Ft. The 2024 new construction home at 1155 N Shore Dr with 5 bedrooms / 4 baths / 2 half baths, 5,3955 Sq.ft. of living area on a 14,193 Sq.Ft. lot with 92′ of open bay frontage – sold for $16 Million ($2,966/Sq.Ft.) **cash transaction
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List of Normandy Shores Homes Sold in 2024
To get a list of all Normandy homes sold in 2024, please contact us.
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Discover the unique charm of Normandy Shores. Reach out today to seize your opportunity in this exclusive real estate market with our expert guidance by your side