Real Estate

Pending sales of homes, condos & town homes in South Walton 27% in November compared to the previous month, and compared to Nov 2010, pending sales increased 45%.
 

Through October of this year the number of single family resales is ahead of last year in all the major panhandle counties. While Escambia (2%), Leon (5%), and Santa Rosa (8%) are only up single digits YTD other markets are beating last year’s sales by healthy margins. Okaloosa and Walton Counties are ahead of last year by 14 percent while Bay County has 22 percent more single family resales than this time last year.
As reported by Metro Market Trends, http://www.mmtinfo.com.

Where were you when the housing market rebounded in South Walton? That is exactly what many people will be asking five years from now. The problem with trying to pinpoint that answer is that it has been happening since the real estate market in South Walton bottomed out in 2007.

One of my favorite developments in South Walton is also one of the hottest when it comes to real estate.

Rosemary Beach has home sales totaling $64.8 million through the end of September. The best year ever for Rosemary Beach was 2004, with $95.2 million reported. It's already the second-best year on record, and we still have three months to go in 2011.

According to the Emerald Coast Association of Realtors (ECAR), The Premier Property Group was responsible for 49.8% of the sales dollar volume, 17% ahead of the next best competitor.

By September of 2010, buyers were confident that we had seen the worst from the BP Deep Water Horizon disaster and sales returned to the South Walton real estate market.

So, any comparisons made from this year to last year are going to be more valid than they were for June, July and August.

According to the Emerald Coast Association of Realtors, South Walton’s pending sales for the combined category of homes, condos & town homes have increased for the third consecutive month.

Compared to September 2010, pending sales in South Walton have increased 17% in Sept 2011. In the chart, the gold bars represent the monthly number of pending sales in the last twelve months, and the red represents the previous twelve months. dreambigproperties.com

So the heat of the summer has left South Walton along with the people on vacation, but the home sales are still around, and looking very strong.

When we compare August home sales in South Walton dating back to the year 2000, we see that August 2011 is a banner month, the second best August on record, since ECAR (Emerald Coast Association of Realtors) has been keeping records.

Condo Sales in South Walton have suffered in recent years, with much of that due to lending constraints. We are now seeing a few lenders willing to loan money on condos, but with 30% down payments, rather than the typical 20% down on detached homes. So, it is no surprise that condo sales fall behind detached home sales.

To paint a better picture of where today’s condo market stands, we’ll look at only July sales from previous years in all three of these charts.

Rosemary Beach home sales are hotter than the temperatures around the south eastern United States. In July alone, the total dollar volume of sales ($23,383,333) bettered the entire year of 2006, 2008 & 2009 (separately) and topped August 2004, previously the highest dollar volume month on record for Rosemary Beach home sales.

In June, I reported that the quantity of home sales in South Walton were the second highest behind only June 2004. July sales do not disappoint. July brought out more than surf and skim boards to South Walton. July brought out the home buyers!

If you’ve been reading my reports, it will be no surprise to see the quantity of home sales is up more than 100% compared to last July when buyers were waiting to see what happened with the oil spill.