South Walton Summer Sales Hint at a Great Year
South Walton, FL (by Murray Balkcom, Realtor) – June brought many smiling vacationers to South Walton, and along with them, many buyers. Realtors reported more than $95 million in home, condo, & town home sales in South Walton, FL. See chart below comparing 2012 to 2011.
When compared to June 2011, the dollar volume increased 13.6%. The number of sales actually decreased 10% during the same time, so it is not surprising to see that the median price jumped from $270,000 to $324,500, representing a 20% increase for all of South Walton (see chart below). Also, we have seen a 26% increase in the number of pending sales in June 2012 compared to June 2011.
Signs are here that this summer and year, will be another great year for real estate activity. Inventory is down 26% from June 2011 so that has brought our month’s supply of inventory down to 8.53 months for all of South Walton. Going back just two years to June 2010, the month’s supply of homes, condos and town homes was 26.04. These are very important numbers to monitor. WaterSound month’s supply of inventory is down to 4.33. What does this mean? Using the WaterSound example, at the current June sales pace of six sales per month, if no new listings came on the market, it would take only 4.33 months to sell out of properties in WaterSound. WaterSound will be a hot development to watch over the coming months and years.
At the end of the first half of 2012, South Walton home, condo, and town home sales are up more than $39 million (9.5% increase) compared to the first half of 2011. This year’s dollar volume of $450.6 million is the highest we’ve seen since 2007, when the first half sales totaled $484.7 million. I think we are on target to have another great year in 2012.
According to the Emerald Coast Association of Relators, leading all other real estate brokerages for the South Walton home, condo, and town home sales during the first half of 2012 is The Premier Property Group with more than $97 million, not including land sales or commercial sales. Second place was some $25 million behind!
If you are thinking about selling your home in South Walton, please call Murray Balkcom, GRI, Realtor with The Premier Property Group, 30A’s top real estate broker! Inventory is decreasing quickly and we need your listings!
All data in this report is furnished by the Emerald Coast Association of Realtors and is thought to be reliable but not guaranteed.
