Good time to revisit this out of my own curiosity. These are as of 10/4/24. All info from costar.
Madison at Owl's Head - 300 units - 88% vacant - asking $1.95 per foot. 0% concessions (I know this is wrong)
Riverwalk - 312 units - 36.7% vacant - asking $1.52 per foot. 4.1% concessions (probably a mix of new concessions and burn offs)
Hammock Bay - 400 units - 36.3% vacant - asking $1.83 per foot. 1% concessions.
Dune Lake - 280 units - 11% vacant - asking $1.95 per foot. 1% concessions.
Sanctuary 331 - 264 units - 11% vacant - asking $1.78 per foot. 1% concessions
Terra Mar - 310 units - 6.8% vacant - asking $1.70 per foot. 0.8% concessions.
NEW
The Beacon (by SWHS) - 260 units - 99.6% vacant - asking $2.02 per foot. 16.7% concessions (about 2 months free)
In Freeport, of these 3 multis with 1012 units, we went from 616 empty (61% vacant) to 524 empty (52% vacant) from July to October. Rents slightly down but about constant. Not terrible considering the off-season. Still a ton of units to absorb with many more under construction.
Of the first 3 in south Walton, of these 3 multis with 854 units, we went from 53 empty (6.2% vacant) to 81 empty (9.5% vacant) from July to October. Rents however dropped from averaging around $1.91/ft to around $1.81/ft.
So south of the bay, rents are down and vacancy is up. North of the bay is about holding steady with tenants bouncing around. Really interested to see how the new construction impacts the market. The one behind SWHS (The Beacon) is just starting to lease 260 units. Really interested to see how the one on Moll by St Rita (Saltaire - 256 units) delivers and continues to push down rents in the area. If anyone wants me to add a development to the list let me know - there are a few that I haven't tracked but can start.
