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...
Overall, detached homes lead the way in sales in South Walton for the month of June, with an increase in number of sales and total dollar volume over May 2009. The 67 Home sales totaled $40,373,300 for June, with almost $17 million of that being CASH sales, compared to 61 sales in May, totaling $36,108,400. HOWEVER, SoWal condo sales increased at a higher rate, with an increase in total sales dollars of about 15 % over May 2009 sales, coming from 53 sales at $21,050,850 for June, compared to the 41 sales in May totaling $18,109,950. Six Straight Months of Increased Sales
Each category of sales, including homes, town homes, and condos, saw increases in the number of sales and total sales dollar volume for the month of June, compared to May. Combining those three categories in South Walton, we sold 129 properties, for a total dollar volume of $63,761,350. The median price of sold listings in these three categories combined was $357,500, and on average, it took 256 to sell the properties. Average selling price as a percentage of listing price was 87%. Currently, there are 3403 listings on the market in these three combined types of properties. Up or Down? It Depends on Your Focus
Comparing year to date sales of the last several years, 2009 sales are down in total dollar volume,...
BUYERS, regardless that of the fact that the majority of the lot listings are over-priced, there are some excellent buying opportunities for residential lots. Remember, “only dead fish go with the flow.” If you like the property and can afford it, what is stopping you? Are you waiting for everyone else to buy, before you jump in? How likely is it that anyone can time the market? Did the masses time the market when they were running to buy in 2004 and 2005? Reflecting on history, when the masses want to sell, that is the time to buy, and when the masses want to buy, that is the time to sell. It’s difficult to go against the flow, but it seems to be the way for the savvy thinkers. PRICE TRENDS: Median sold price has increased over the last three months, but looking at the trend-line (6 month moving average of the median sold price), we see that trend-line continue its slightly downward path. As the writers at NAR (National Association of Realtors) wrote in a recent news article, “one month, doesn’t a trend make.” Inventory continues to decrease, but only slightly, and until we have more equilibrium in the market, I don’t think we can see an increase in sales prices.
Whether you are looking to buy, or sell, real estate, you need a knowledgeable Realtor who knows the local market, but who also keeps a pulse on the market. What’s selling? What’s not selling? When you decide to work with a Realtor, I sincerely hope that you will select me to assist you with your real estate needs. I build my business, one customer at a time.
Homes Outpace Other Categories for May 2009 Sales reports for May 2009 show Homes outselling Town Homes, Condos, and Residential Lots for South Walton. The graph above compares April to May, and shows that sales (dollar volume) were off slightly, except for Condos, which have seen five consecutive months of increases in total sales volume. Overall, inventory has continued to decrease slightly for the last two years. Along with that decrease, we have also seen a downward trend in median price over the last 24 months.
See Attached pdf file for graphs and more information
Residential Lots - 75% were Cash Sales
Detached Homes - 29% were Cash Sales
On average, sales price of Homes, Town Homes, and Condos, was 81% of the list price. However, remember that the better-priced property owners are less willing to negotiate because some demand is present. While these better-priced property owners may be a little tighter on their selling price, some of the over-priced property owners are much more willing to negotiate price. Don’t take...
How Does South Walton Real Estate to Florida as a Whole? by Murray Balkcom, GRI, Realtor murraybalkcom@yahoo.com
based on sales reported to Emerald Coast Association of Realtors (deemed to be reliable, but not guaranteed)
May 28, 2009
“Florida’s existing home sales rose in April – the eighth consecutive month that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). April’s statewide sales showed gains over the previous month’s sales level in both the existing home and existing condominium markets….
…Florida Realtors also reported a 21 percent rise in statewide sales of existing condos in April; existing condo sales last month increased 6.2 percent over the total units sold in March…..”
In that report linked above, they show continued increases in the number of sales through the end of April 2009 for both Condos and Single Family Detached Homes for all Realtor reported sales in Florida. That is useful information, but real estate is local in nature, so I thought I would see how the area of South Walton (Walton County, FL) compares. I created some attached charts to see
