• Trouble logging in? Send us a message with your username and/or email address for help.
New posts

30ashopper

SoWal Insider
Apr 30, 2008
6,846
3,471
56
Right here!

Cork On the Ocean

directionally challenged

Cork On the Ocean

directionally challenged
New Sowalton Hotshee

Yes, Rosemary Beach is included 4 robbins. Trying my best will everything going on :)

Sowal Hotsheet Ending 6/25/10 - Contracts are down

Sales in Destin and Sowal down 60% over the last 2 months


4/17/2010 - 4/23/2010 - 57 Contracts (homes & condos) + 13 Contracts (Land) = Total Residential 70 Contracts
6/17/2010 - 6/23/2010 - 25 Contracts (homes & condos) + 3 Contracts (Land) = Total Residential 28 Contracts

Note: 42 less contracts divided by 70 contracts is a 60% decrease in written contracts in 2 months.

Traditionally, our sales increased during the summer which is our peak real estate season so the losses will prove to be much greater than 60%. Further an analysis of "closed" sales for the first 6 months of 2009 vs 2010 (attached) is evidence that our real estate sales were significantly inceasing until the effects of the BP Oil Spill hit our market. We enjoyed significant increases in sales peaking at a 50% increase over last year in March 2010 and then a continuing decline in sales to a 51% decrease over last year in June 2010 which according to new contracts is unfortunately not the full effects of this disaster on our market.

favicon.ico
PR: wait...
favicon.ico
I: wait...
favicon.ico
L: wait...
favicon.ico
LD: wait...
favicon.ico
I: wait...wait...
favicon.ico
Rank: wait...
favicon.ico
Traffic: wait...
favicon.ico
Price: wait...
favicon.ico
C: wait...
close.gif
 
Last edited:

30ashopper

SoWal Insider
Apr 30, 2008
6,846
3,471
56
Right here!
BP maybe, but more likley the expiring federal tax credits. Contracts are down nationally by about the same amount - ~60%.
 

Cork On the Ocean

directionally challenged
My money says BP. We were on track to having a record year. The federal tax credits don't make phones stop ringing in one day. Disasters do...

I agree with you Bobby. We also were on track for one of the strongest years since the boom nd the day that the news released that the oil was going to pensacola, we had 4 contracts cancel. I have numerous emails from people stating that they have changed their mind due to the oil spill and about 6 people a day that are opting out of their automated listings. These current actives would have known when the tax credits were expiring and it wouldnt have caused them all to drop in sync.

We were clearly on track for at least a "surge" in sales for a while but BP shut it down. I've been in contact with people who say sales have been affected all the way down to southwest Florida.

If we are still lucky enough to escape massive damage by the time it's capped, I think we will see a lot of activity late August (assuming that's when they can cap it).

favicon.ico
PR: wait...
favicon.ico
I: wait...
favicon.ico
L: wait...
favicon.ico
LD: wait...
favicon.ico
I: wait...wait...
favicon.ico
Rank: wait...
favicon.ico
Traffic: wait...
favicon.ico
Price: wait...
favicon.ico
C: wait...
close.gif
 

ASH

Beach Fanatic
Feb 4, 2008
2,156
443
Roosevelt, MN
With sales off this much in Walton County, which traditionally has more expendable income than other counties, it would be interesting to see what counties like Okaloosa to Escambia look like for a comparable market selection. BRAC would need to be excluded from the figures if possible.
 
New posts


Sign Up for SoWal Newsletter