Walton County Florida Real Estate Report for May 2018
July 3, 2018 by SoWal Staff
The most recent SoWal Real Estate Report covers all of Walton County including South Walton real estate activity for May 2018, with statistics for single family homes, townhomes, and condos in Walton County, Florida.
Single family closed sales were up 8.6% for May compared to the same month last year. The number of pending sales for Walton County was was up 9%. Inventory was down 2.4%, dropping for the 13th month in a row. Median sales price was up a significant 17.7%. Dollar volume increased 10.2% over last year at $198.9 Million.
A number that stands out is median time to contract was down 26.9% - a reflection of a red hot market with properties getting snapped up quickly. New listings were up 19.8% which could be an indication that sellers recognize a good time to sell.
Months Supply of Inventory for Walton County was down 9.9% over the same month last year at 6.4 months for May 2018.
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.
Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next.
The latest residential real estate report for May 2018 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 believed to be 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.