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Walton County Florida Real Estate Report for June 2017

July 19, 2017 by SoWal Staff

The latest SoWal Real Estate Report includes all of South Walton real estate activity for June 2017, including statistics for single family homes, townhomes, and condos in Walton County, Florida.

Single family closed sales were up 11% for June compared to the same month last year. The number of pending sales for Walton County was up 3.4%. Inventory was down 4.5%, dropping for the 2nd month in a row. Median sales price was up a sizable 13%. Dollar volume was up 26% over last year at $200.6 Million!

Months Supply of Inventory for Walton County was down 11.8% over the same month last year at 6.7 months for June 2017.

From the report: Months Supply of Inventory is an indicator of the state of the market, whether it is a buyers' market or a sellers' market. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 Months of Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market.

The latest residential real estate report for June 2017 in Walton County summarizes sales and listing statistics of single family homes. The Walton County Real Estate Report is produced by Florida REALTORS® and provided by the Emerald Coast Association of Realtors® (ECAR).

Click here to open the latest South Walton Real Estate Report in pdf format. The charts and graphs are informative and well done. Great work has been done compiling the real estate report. The Walton County Real Estate Report is a service by ECAR and is a wealth of information about closed sales, pending sales, cash sales, condo sales, townhome sales and more.

The Real Estate Report includes real estate information about Walton County on the Emerald Coast, including all areas of South Walton and Scenic 30A, Inlet Beach, Rosemary Beach, Seacrest, Alys Beach, WaterSound Beach, Seagrove, Seaside, WaterColor, Grayton Beach, Blue Mountain Beach, Santa Rosa Beach, Sandestin, and Miramar Beach.

Real estate sales statistics are generated on approximately the third week of each month. These statistics include information recorded in the Emerald Coast Association of Realtors® (ECAR) MLS system by ECAR MLS participants and subscribers, and do not include information entered by other associations or “for sale by owner” properties.

Statistics are accurate as of the date they were generated as indicated at the bottom of each report. Reports created at other times or under other circumstances may produce different results.

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Comments

ace replied on

Anyone have any insight as to why there is such a high inventory of high end, $1,000,000+ properties? Is South Walton overbuilt in this price range or is the area losing interest from potential buyers?

bob replied on

I don't think it's that simple. I'd have to take a detailed look at inventory but there is an unbelievable amount of current construction and new construction in the last few years of massive homes with crazy features and amenities - opulent outdoor pools / living areas, game rooms, lots of bedrooms, gourmet kitchens, etc etc. - so million-dollar plus homes that are even only ten years old are tired and fall behind the rental competition. So many sales are cash and so many new homes have such big budgets.

ace replied on

Thanks for your response and insight. We have been trying to sell a 2 million dollar+ home built in 2009 and it has been very frustrating, as potential owners do not seem to want to look at the potential of a home, which would mean doing even the slightest renovation or upgrade. They want a new home, period.

bob replied on

I see your concern. If it has good rental numbers then I'd think you'd have a buyer based on that alone. If never a rental then get rental company(s) to give you projections and base asking price off that. Whether suitable as a rental or not it has to be priced right. If priced right it will sell. We have a hot market. Although, you said the "p" word so it sounds like maybe there are issues with the house.

ace replied on

I guess the beauty of the house is in the eye of the beholder. We have been able to keep the house in immaculate condition given the fact that we have had to rent it while trying to sell it. Just waiting for the right person to come along...........thanks,
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