Image courtesy of Mark Moz via Flickr
The August real estate numbers for the Emerald Coast, including Okaloosa and Walton counties, are a mixed bag. Some good news, some not so good news – and the local real estate market continues moving forward.
Single Family Home Sales
Emerald Coast
- Closed sales increased 6.6%
- Pending sales rose 28.8%
- Median prices decreased 5%
- Inventory increased 25%
- Months supply increased 15.2% to 8.4 months of inventory
Okaloosa County
- Closed sales dropped 0.7%
- Pending sales increased 20.7%
- Median prices increased 2.6%
- Inventory increased 24.4%
- Months supply increased 15.5% to 7 months of inventory
Walton County
- Closed sales increased 18.3%
- Pending sales increased 45.3%
- Median prices fell 9.3%
- Inventory increased 27%
- Months supply increased 14% to 10.2 months of inventory
Townhouse and Condo Sales
Emerald Coast
- Closed sales decreased 23.4%
- Pending sales decreased 25.8%
- Median prices increased 29.3%
- Inventory dropped 4%
- Months supply increased 9.7% to 10.1 months of inventory
Okaloosa County
- Closed sales dropped 36.4%
- Pending sales fell 37.2%
- Median prices rose 35.6%
- Inventory decreased 2.2%
- Months supply increased 20.7 to 11.1 months of inventory
Walton County
- Closed sales decreased 19.1%
- Pending sales decreased 1.2%
- Median prices increased 11.6%
- Inventory rose 7.3%
- Months supply increased 11.2% to 10.2 months of inventory
A few things to remember…
A healthy inventory level for any real estate market is around 6 months supply of inventory. Anything over 8 is considered a high level of inventory and could begin to bring down prices as buyers are given more options and competition increases among sellers.
Townhouse and condo sales could be an indication of tighter financing options, insurance affordability, as well as the fact that the vacation season is winding down and demand is decreasing for resort or vacation properties. No one thing contributes to declining sales.
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, and a pending sales in June may affect sales data several months in the future.
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.
Leave a Reply