Market Report - Palm Coast Florida

This spring, we had the pleasure of touring a number of communities during the 2017 Flagler Parade of Homes. We were curious to see what’s happening in the Palm Coast real estate market. The area experienced impressive growth and is evolving into one of the best retirement communities in FL. Here's a few reasons why. Comparing 2015 to 2016, there were 45% more new businesses which the region needed which includes restaurants, shopping, health care, and home improvement retailers. 

The 2017 Parade of Homes showcased 30 homes throughout the Flagler Coast. This provided an excellent opportunity to see the latest trends in outdoor living, interior designs, home technology and green building practices. Home building and interior design trends we felt were out of style: 

• low ceilings
• knockdown wall & ceiling finishes
• popcorn ceilings
• cheap carpet
• hollow doors
• small closets
• metal framed shower enclosures
• prefab tub enclosures
• strong colors such as orange, aqua, lime green

Trends in vogue:

• wide open living spaces
• tall doors, high ceilings
• large kitchen islands with seating
• large windows
• larger garage
• walk in showers/ frameless glass
• heated swimming pools
• wider sidewalks
• soft color palate such as oyster white, soft gray, brushed chrome
• ceramic tile that looks like wood floors

Our Price Comparison Observations - square foot pricing based on builder models we toured in order of our perceived value:

#1 ICI Homes - $159 per square foot (Egret II at Plantation Bay) 

#2 SeaGate Homes - $110 per square foot (Nottingham at Park Place)

#3 Dream Finders - $101 per square foot (Avalon I model at Grand Landings)

#4 Saltwater Homes - $144 per square foot (The Grand Floridan at The Conservatory)

Others Home Builders: 

Vanacore Home - $104 per square foot (Waterford at Halifax Plantation)

Gallery of Homes - $136 per square foot (Yorkshire at Huntington Village) 

DR Horton - $144 per square foot (Lantana model at Country Club Harbor)

Eagle Marsh Homes- $140 per square foot (Eagle Marsh Homes at Grand Landing)

Noteworthy Builder Incentives:

Dream Finders pays all closing costs when using preferred lender

DR Horton $7,500 towards closing costs when using preferred lender

COMMUNITIES WE TOURED:

Plantation Bay Golf & Country Club - Seven homes were available to tour during the parade. The 3,800 acre gated community features 45 holes of golf, ten Har-Tru tennis courts, two clubhouses, a 7,000 square foot fitness center and spa, 4 pickleball courts, bocce ball and more. Approximately 1,700 homes are built of the 4,000 planned. The Egret 11 model on Wingspan Drive built by ICI Homes won the Grand Award, a 2,969 square foot 3/3 home with a two car garage priced at $474,000. Dramatic windows and a spacious floor plan reflected luxury at its best. In the kitchen, the mirror mosaic backsplash from counter to ceiling won the ‘best feature’ award. The designer used shades of gray, black, chrome and splashes of gold. ICI Homes has over 100 floor plans to choose from!

The community’s location parallels Interstate 95 and is only 15 minutes from Daytona Beach. Homes in Plantation Bay begin in the mid $200’s to $1 million plus. HOA fees are around $1,200 a year. A full golf membership has a $12,000 initiation fee and annual dues of $6,900 for a family. A sports club membership has a $1,500 initiation fee and annual dues of $1,675 for a family. Social club dues and fees are less than $500 a year for access to the two clubhouses. With a strong retired baby boomer occupancy, this gated community is perhaps one of the best retirement communities in FL and it is not age-restricted.

Halifax Plantation - Established back in the 1990’s is a non-gated community on the southern end of Palm Coast. Mature trees and over 1,000 homes of all styles, some are built upon spacious estate lots.  The average home price is in the mid $400k’s. Amenities include a champion golf course designed by Bill Amick, a 25,000 square foot clubhouse, swimming pool, fitness center and four clay tennis courts. Halifax Plantation Golf Club offers optional Golf, Sports and Special Membership, to residents and non-residents. Full membership fees are approximately $2,000 per year. Rumor has it the clubhouse is slated for renovation which it is in need of. Vanacore Homes had new duplex golf villas to tour starting around $213,000 in the Scottsmoor neighborhood.

The Conservatory - we’ve visited many times. To date, 41 homes have been built to date of the 340 planned. We saw a real buying opportunity here with the possibility of owning a home under $400,000 in a community that certainly exceed $1 million when the community reaches substantial completion. The gated community spreads across 556 acres and features a Tom Watson Signature Golf Course and 44,000 square foot first class clubhouse with Atrium resembling a crystal palace, a swimming pool, fitness center and more. The golf course is gorgeous with coral stone walls framing out salt water lakes accented by dramatic palm trees. The Conservatory is a 24 manned gated community on the west side of the Intracoastal Waterway. We were told the HOA has over $1 million in reserves. Membership is open to the public. The refundable initiation fee is $20,000 with monthly dues just over $400. Saltwater Homes showcased The Grand Floridian (the parade’s 2017 Showcase Home) and The Avanti model.  

Country Club Harbor - a small waterfront community on the west side of the ICW with limited boat access due to the nine foot fixed bridges. Annual HOA fees are around $1,200 and no CDD fees. The community is gated and overlooks a public golf course. Many of the homes are canal front lots with deepwater. The ancient mossy oak trees add to the community's curb appeal. D.R. Horton is building in the community and we toured The Lantana model priced at 362,900. If a family desires to live on the mainland and yet close to the Flagler Beach, this is intimate neighborhood is worth taking a look. Buyers who choose D.R. Horton’s lending receive a $7,500 credit towards closing costs. There were only a handful of golf or canal front lots left to choose from. 

Grand Landings - a new home community off Seminole Highway just south of the airport. Most of the homes are being built by Dream Finders, one of the largest private home builders who is based in Jacksonville. D.R. Horton Homes builds at Grand Landings too. Home prices are from the mid $200’s and up. HOA fees are around $90 a month. Amenities include a community swimming pool, fitness center, dog park and accent lakes.

Grand Reserve - we weren’t overly impressed with this public golf course community at this point in time but we’re told the golf course is beautiful. The 690 acre community appears to be a restart of a prior project launch. D.R. Horton Homes purchased the remaining lots and plans to build a 55+ section in the community. Affordable homes are being built with the entry level home buyer in mind. A community swimming pool and pavilion are planned. Home prices range from $170,000 to over $300,000. The HOA fee is $500 a year plus the CDD fee of $1,150 a year.  

Park Place - an intimate 55+ gated community built within the P section of the original Palm Coast established neighborhoods. All in all, the age restricted community will have 123 patio homes, most on waterfront homesites. Amenities include a community swimming pool, sundeck and a 6.28 accent lakes. Lawn care is included the monthly $150 HOA fee. Homes were priced from the $190’s. SeaGate Homes showcased the Nottingham model, a stunning furnished home with dramatic 15’ foot ceilings. Holiday Builders also builds at Park Place. SeaGate Homes has been voted the Best Homebuilder in Palm Coast for 6 years in a row. Park Place is one of the few active senior living communities in Palm Coast. Holiday Builders showcased The Kings Bay model priced at $289,990.

Eagle Marsh at LPGA International - an established country club community just off of Interstate 95 in the Daytona Beach area. The golf community boasts two 4-star championship LPGA golf courses. At Eagle Marsh, the community is built with the lock and leave lifestyle in mind. HOA fees include lawn maintenance and landscaping. Homes start in the low $200’s. Eagle Marsh Homes is based in Vero Beach, Florida. 

Hunter Ridge/Huntington Village - we toured the 55+ community towards the back of the established community. Gallery Homes based in Deland showcased the Yorkshire model priced at $304,672. Huntington Village is designed around maintenance free living and is located 10 minutes from shopping, medical care, restaurants and more. HOA fees are approximately $300 a month. If a buyer chooses to use one of Gallery Homes preferred lenders, they are eligible for a $6,000 credit towards closing costs. 

Latitude Margaritaville - the sales center ground breaking has taken place just west of Interstate 95. The first Jimmy Buffet inspired 55+ community built by Minto Communities will feature an active adult lifestyle and over 3,000 homes. Amenities planned include an oceanfront beach club, town center, resort-style swimming pool, courtyard with bandshell, tennis and pickleball courts, fitness and wellness center, arts and learning center and Grand Hall Theatre. The sales center opening is slated for the fall of 2017. Model homes openings are planned for 2018. This is one of the first active senior living communities in Daytona Beach.

We still believe the Palm Coast real estate market is a bargain home hunters dream because folks can still find beautiful new homes in the $200’s near the beach. Interesting tidbits:

• The cost of living in Palm Coast is 4% below the national average
• There are four major airports within 60 minutes
• The are 21 cutting edge hospitals within 60 minutes
• Palm Coast is considered part of Florida’s High Tech Corridor
• Ranked #7 on Forbes List of Top Places to Do Business

In 2017, Flagler County celebrated its 100th birthday. Locals refer to the area as "old Florida" steeped in history with unspoiled beaches and abundant wildlife. The city of Palm Coast was founded in 1999 and is known for 23 miles of saltwater canals and 46 miles of fresh water canals. This charming beach community won’t stay ‘quiet’ for long.

If you’re exploring the Flagler Beach for the first time, ask for our complimentary Palm Coast relocation information. It’s our pleasure to help!