Where Were You When the Market Rebounded in South Walton?
November 5, 2011 by Murray Balkcom
Where were you when the housing market rebounded in South Walton? That is exactly what many people will be asking five years from now. The problem with trying to pinpoint that answer is that it has been happening since the real estate market in South Walton bottomed out in 2007.
Since that time, we’ve seen a steady rise in the number of home sales in South Walton, as you can see in the adjacent graph. In October 2011, we saw 62 reported home sales totaling more than $31.3 million. On average, the selling price of these homes is about 91% of the listing price.
Due mostly to sales, the inventory of homes has continued to decrease and we are currently seeing about 10% less homes for sale than we did at this time last year. The buyers who take too long to write an offer are watching the good inventory get swept away by buyers who know good deals when they see them.
All sales data referenced above is provided by Emerald Coast Association of Realtors and is thought to be accurate but not guaranteed.