30a August 2011 Real Estate Market Update

As the long, lazy days of summer end and vacationers pack their bags to return home, a wonderful sign of life and vitality is returning to South Walton. Home sales seem to be improving. Comparing August home sales numbers for the area from 2000 to 2011, last month showed record sales. The figures are second only to the same period in 2004. Sales comparisons are from the Emerald Coast Association of Realtors.

Some potential home buyers continue to wait when the market declines hoping for better deals right before the next upturn. It is always difficult to predict a market turn, and those people may miss a great buying opportunity. Other buyers are taking advantage of the current low prices, and those good buying opportunities quickly disappear.

Over the past 12 years, the median selling price in the month of August for homes in South Walton has shown some growth followed by small declines. Declining sales prices motivate buyers and can result in increased sales.

The increase in the number of homes sold brought an increase in total sales dollar volume in August 2011. Comparing only sales in the month of August for the past 12 years, August 2011 ranks third with slightly over $53M reported in home sales.