Real Trend Report for Walton County in November shows a continued slide in volume and prices--
SFH sales volume down a whopping 31% and avg price down 20%, lowest monthly volume level in over 5 years
Condo volume down 18% and avg price way, way down by 48%
Lot sales volume down 24% and avg price up slightly by 5%
Interesting numbers, but until Walton County tax assessors office starts to move property taxes downward at a much faster rate, buyers are going to be less common and prices are going to continue to fall. Walton County continues to "rape" out of state property owners with high property taxes. There use to be a time when you could own a beach house, rent it out, pay the mortgage and actually make a profit....not any more. Property taxes sure went up a lot faster than they have been coming down, and that my friend has "killed the goose that laid the golden egg". Until property taxes start going down to sensible numbers, I can't in good conscience even recommend to any of my friends to invest in real estate down there.