Median Home Selling Price on the Rise in South Walton

by Murray Balkcom, Realtor
The Premier Property Group

South Walton, FL: We are off to a good start in 2012 for real estate sales in South Walton. It’s a given that sales are traditionally lower in January and February than the rest of the year in South Walton, and that continues to be the case in 2012. Overall, looking at home, condo and town home sales in South Walton, 112 were reported during January. That is down from a robust December number of 162. As I mentioned, this is typical. The good news is that pending sales increased 40% in January, compared to Dec ’11.

To get a better idea of where sales are going, we will compare year to year sales for the month of January. In particular we will examine home (detached single family) sales in South Walton.

In some local beach communities, we have seen median prices on the rise recently. In January,  the median home sales price of $309,000 increased 14.4% compared to Jan 2011. This is a strong positive indicator.

Total dollar volume of sold homes is also up over Jan 2011, with $31,664,695 reported in home sales for South Walton, the third best January on record!

The quantity of sales has been on the rise during the month of January over the last several years. In Jan 2012, Realtors reported 55 home sales in South Walton, no change compared to Jan 2011. There appears to be continued stabilization in the market as people continue to buy.

One trend I’m noticing is that new listings are coming on the market, well above the prices of homes which are selling. This is a recent trend, as we went through a solid year where new listing prices were much more in line with the list prices of properties going under contract. This means that realistic inventory is getting smaller and smaller and the great listings will be in high demand amongst the buyers and move fairly quickly.

There’s an app for that... Remember to download my free app to quickly find real estate for sale while out and about in South Walton or the Destin area. Using the “HomeSpotter” feature, just point your phone at a house for sale and learn more about it with full listing details and photos by tapping the screen!

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If you are considering selling or buying real estate, in South Walton,  please call Murray, even for consultations or evaluation of your property.

Search the MLSMurray Balkcom is a licensed Realtor with The Premier Property Group, serving South Walton, including the beach neighborhoods 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.