Image via Kozzi
It’s not quite summer yet, and real estate along the Emerald Coast is strong and improving over last year, according to the April statistics. Sales are up, prices are up, and inventory is down. The summer season should prove successful for sellers and competitive for buyers.
Single Family Home Sales
Emerald Coast
- Closed sales increased 36.5%
- Pending sales rose 18.5%
- Median prices increased 9.8%
- Inventory decreased 3.3%
- Months supply decreased 19.8% to 6.8 months of inventory
Okaloosa County
- Closed sales increased 46%
- Pending sales increased 12.7%
- Median prices increased 9.8%
- Inventory decreased 2.2%
- Months supply decreased 19.8% to 5.6 months of inventory
Walton County
- Closed sales increased 16.4%
- Pending sales increased 18.8%
- Median prices increased 26.4%
- Inventory decreased 2.4%
- Months supply decreased 20.9% to 8.4 months of inventory
Townhouse and Condo Sales
Emerald Coast
- Closed sales increased 32.9%
- Pending sales increased 4%
- Median prices increased 23.4%
- Inventory dropped 5.1%
- Months supply increased 6.4% to 9.8 months of inventory
Okaloosa County
- Closed sales increased 2.7%
- Pending sales decreased 6.6%
- Median prices rose 45.6%
- Inventory decreased 6.5%
- Months supply increased 9.7% to 10.9 months of inventory
Walton County
- Closed sales increased 63.9%
- Pending sales increased 15.2%
- Median prices increased 5.2%
- Inventory decreased 7.5%
- Months supply decreased 9.9% to 8.6 months of inventory
A few things to remember…
A healthy real estate market (meaning neither buyer nor sellers have an “advantage”) is a six to eight month inventory. Below six months, it’s thought to be a seller’s market and above eight months is considered a buyer’s market.
Median prices increased in all areas for single family homes, condos, and townhouses during the month of April. The median price is determined, in part, by the price ranges buyers are selecting and the inventory available in those price ranges.
Pending sales are only an indication of the month ahead. In months with an increase in pending sales, you can expect sales to increase for the following month. A decline in pending sales may be an indication of lower sales the next month. It is not an automatic as sales often take more than 30 days to close.
All sales data is from the Emerald Coast Association of Realtors® (ECAR) Multiple Listing Service (MLS) and is compiled by Florida Realtors®, the state association for Florida. The Emerald Coast statistics cover both Okaloosa and Walton counties as well as surrounding areas based on the listings entered into the MLS by ECAR MLS participants.
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