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.
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Residential property sales in Rosemary Beach are positively sizzling, much like a typical summer day in the balmy south. The $23,383,333 worth of sales occurring during the month of July alone reflect a volume greater than that registered in the whole of 2006, 2008 and 2009, respectively, and vaulted the month's figures far beyond the prior dollar volume record for Rosemary Beach properties, registered back in August 2004. Three of the July transactions were for Gulf-front residences, though two of them represented cash deals. It is truly telling, and quite astounding that sales in Rosemary Beach alone accounted for roughly a third of the nearly $75 million sales tally for South Walton in its entirety.