South Walton Real Estate Sales Summary - July 2009

Pending Sales for July 2009 Increase 105%
Comparing July 2009 to July 2008, pending sales increased 105%. Compared to June 2009, we were up 20%. In the “pending” status, we have seen monthly increases for the last five months, when comparing same months to 2008.

2009 Sales in South Walton Outpacing 2008
Ask a typical seller in today’s market why their property hasn’t sold and they are likely to tell you that there are no buyers. That is far from the truth. A more accurate answer may be that the property is priced too high. Combining sales of homes, condos and town homes through the end of July 2009, we have seen 12% more closed sales (number of transactions than in the same period in 2008. Total dollar volume for closed sales in these categories, through the end of July 2009, is $208,578,540. This figure is down about 13% compared the same period in 2008, but that is economics 101 — As sales price decreases, quantity of sales will increase accordingly.

Using median price as our rule of measure, it seems that new listings are coming on the market at higher prices than those properties which are going under contract and those which are selling. The listings which are expiring (unsold and coming off the market), also appear to be priced well beyond those which are selling. However, if you are seriously looking to purchase now, there are some properties which are priced to sell. In fact, I know of a few listings which will produce a positive cash flow, which is rare for our local market.

See full report attached below, including charts and graphs.

Attached Files

2009 07 July Sales.pdf (493.4 KB, 83 views)