by Murray Balkcom, Realtor (The Premier Property Group)
Condo sales have lagged behind detached home sales for a while, but condo sales are on the rise in South Walton, FL. Compared to February condo sales in South Walton, Realtors reported a 58% increase during March to Emerald Coast Association of Realtors (ECAR) , with a total of 79 sales (According to the Florida Association of Realtors, state-wide condo sales rose only 12% in March). Compared to March 2010, condo sales increased 23%.
Total sales dollar volume for March totaled more than $27.4 million, which is the highest reported since May 2008.
Inventory of condos in South Walton continues to decrease and we are now at 1075 units actively listed. That is the lowest inventory level we’ve seen since May 2005. We are now down from the high of 142 months of inventory, to only 13.6 months of inventory.
Selling price of condos sold during March 2011 averaged 90.08% of the listing price.
For March 2011, pending sales of condos in South Walton are looking very strong, with a 35% increase over February 2011 and a 98% increase compared to March 2010.
If you, or someone you know, are interested in buying or selling property in South Walton, please contact Murray Balkcom, GRI, Realtor with The Premier Property Group, or go to dreamBIGproperties.com and search for properties on your own to get an overview of the market and currently listed properties.
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Murray Balkcom is a licensed Realtor with The Premier Property Group, serving South Walton, including the beach communities of Alys Beach, Rosemary Beach, Seacrest, WaterSound, Seagrove, Seaside, WaterColor, Grayton Beach, Blue Mountain Beach, Santa Rosa Beach, Dune Allen, and Point Washington.
All sales data referenced above is provided by Emerald Coast Association of Realtors and is thought to be accurate but not guaranteed.