South Walton Pending Real Estate Sales Increase 45%
December 24, 2011 by Murray Balkcom
Pending sales of homes, condos & town homes in South Walton 27% in November compared to the previous month, and compared to Nov 2010, pending sales increased 45%.
Could these pending sales lead to a healthy winter for real estate in South Walton? Only time will tell. Pending sales are good indicators of potential upcoming sales, but not all pending sales go to close.
Realtors reported $36.7 million in closed home sales in South Walton
for November, which is only $70,000 less in home sales volume than our
second best November on record (2005). For the last four years, dollar
volume of South Walton homes sales in November has been on the rise.
Maybe you are thinking that we simply had a greater quantity of sales, and
therefore, we saw a greater dollar volume of home sales. That is true
except for the difference between Nov 2010 and Nov 2011, when each of
those months had 62 reported sales, tying for the second best November
on record, only behind Nov 2004. So, why then did we see a 36% increase
in the sold dollar volume in November 2011 compared to Nov 2010? People
are buying more expensive homes.
In November, the median sold price for homes in South Walton
increased to $355,000 (13.7%) while average home sale price increased
All sales data referenced above is provided by Emerald Coast
Association of Realtors and is thought to be accurate but not