March 2009 Real Estate Sales Summary
Posted 04-14-2009 at 07:10 PM by murray
Real Estate Sales Summary — March 2009
by Murray Balkcom, GRI, Realtor
Coldwell Banker United, Realtors
based on the sales reported to Emerald Coast Association of Realtors
(For the full report, please click on the attached pdf.)
Talk about “springing forward” this time of year — In March, we saw land sales in South Walton leap 33% in total dollar volume over a rather slow February, while the total dollar volume of Homes, Condos, and Townhomes, jumped 44% over February, reporting $44.5 million in sales. In both categories, median sales price has decreased, which brings out the buyers. I’ve been expecting to see more sales dollar volume and greater number of transactions this year as we see prices fall back once again to attractive levels, in the eyes of buyers. Buyers never left, they just stopped seeing value. Now, we are again seeing value as buyers are jumping at the opportunity to pick up good buys.
For Combined Residential category, Quantity of Sales increased 42% over February, with 101 reported sales, the highest number since June 2008.
Is Financing a Problem? Not for some. Sales reports show that in the category of Combined Residential (Homes, Condos, Townhomes), 39% of the sales were CASH, while the category of Residential Land reports that 53% of the sales in South Walton were CASH transactions.
Overall, Condo and Home sales look strong for March, though Townhome sales are still suffering. As the prices decrease for townhomes, we will see an increase in sales.
With sales picking up, sellers have taken notice and we are seeing slight increases in inventory in some categories, which translates into more competition for sellers, and better buys and better selection for buyers.
Avg Sold Price compared to Avg List Price of sold homes, condos and townhomes, is narrowing the gap, with the sold price averaging 88% of the list price.
Median Sold Price for March decreased to $270,0000. Median Sold Price is a better market-indicator than Average Sold Price. We’ve seen this number trend downward since June 2008.
Residential Land in South Walton:
Avg List Price of sold properties: $ 430,342
Avg Sold Price: $ 343,767
Median Sold Price: $78,250
For Residential Land in South Walton, we saw sales prices averaging 80% of the list price. Median price is fluctuating more than that for homes, condos and townhomes, because we are seeing fewer sales, in comparison, much less than needed to get a good sampling statistic. If you look at the attached pdf charts, over time, you will see a mostly downward trend since 2006.
If you have questions about the summary or data, I welcome the opportunity to speak directly with you. Please feel free to contact me, directly. For anyone wanting more detailed data of particular areas or types of properties, please ask to be included in my monthly Email-outs. Your email address will remain confidential. At anytime, if you wish to be removed from my Email-outs, simply ask.
Please consider allowing me to earn your real estate business.
Best Regards,
Murray
murraybalkcom@yahoo.com
by Murray Balkcom, GRI, Realtor
Coldwell Banker United, Realtors
based on the sales reported to Emerald Coast Association of Realtors
(For the full report, please click on the attached pdf.)
Talk about “springing forward” this time of year — In March, we saw land sales in South Walton leap 33% in total dollar volume over a rather slow February, while the total dollar volume of Homes, Condos, and Townhomes, jumped 44% over February, reporting $44.5 million in sales. In both categories, median sales price has decreased, which brings out the buyers. I’ve been expecting to see more sales dollar volume and greater number of transactions this year as we see prices fall back once again to attractive levels, in the eyes of buyers. Buyers never left, they just stopped seeing value. Now, we are again seeing value as buyers are jumping at the opportunity to pick up good buys.
For Combined Residential category, Quantity of Sales increased 42% over February, with 101 reported sales, the highest number since June 2008.
Is Financing a Problem? Not for some. Sales reports show that in the category of Combined Residential (Homes, Condos, Townhomes), 39% of the sales were CASH, while the category of Residential Land reports that 53% of the sales in South Walton were CASH transactions.
Overall, Condo and Home sales look strong for March, though Townhome sales are still suffering. As the prices decrease for townhomes, we will see an increase in sales.
With sales picking up, sellers have taken notice and we are seeing slight increases in inventory in some categories, which translates into more competition for sellers, and better buys and better selection for buyers.
Avg Sold Price compared to Avg List Price of sold homes, condos and townhomes, is narrowing the gap, with the sold price averaging 88% of the list price.
Median Sold Price for March decreased to $270,0000. Median Sold Price is a better market-indicator than Average Sold Price. We’ve seen this number trend downward since June 2008.
Residential Land in South Walton:
Avg List Price of sold properties: $ 430,342
Avg Sold Price: $ 343,767
Median Sold Price: $78,250
For Residential Land in South Walton, we saw sales prices averaging 80% of the list price. Median price is fluctuating more than that for homes, condos and townhomes, because we are seeing fewer sales, in comparison, much less than needed to get a good sampling statistic. If you look at the attached pdf charts, over time, you will see a mostly downward trend since 2006.
If you have questions about the summary or data, I welcome the opportunity to speak directly with you. Please feel free to contact me, directly. For anyone wanting more detailed data of particular areas or types of properties, please ask to be included in my monthly Email-outs. Your email address will remain confidential. At anytime, if you wish to be removed from my Email-outs, simply ask.
Please consider allowing me to earn your real estate business.
Best Regards,
Murray
murraybalkcom@yahoo.com
Total Comments 1
Comments
-
Thanks for posting Murray. We appreciate you keeping us informed of what's going on in South Walton Real Estate.Posted 04-15-2009 at 08:29 AM by kurt
Total Trackbacks 0
