Just In: July 2011 SoWal Home Sales Hit All-Time High

[Kurt]

July 2011 SoWal Home Sales Hit All-Time High

In June, I reported that the quantity of home sales in South Walton were the second highest behind only June 2004. July sales do not disappoint.

July brought out more than surf and skim boards to South Walton. July brought out the home buyers!

If you’ve been reading my reports, it will be no surprise to see the quantity of home sales is up more than 100% compared to last July when buyers were waiting to see what happened with the oil spill.

Our sold dollar volume sky-rocketed by 287% over July 2010. Still, it’s no big deal since we are comparing this year to a major disaster year, right? Wrong... Read more »

 

[gmarc]

Is that correct.The avg home sold for 884k? that seems like 50% more than any other month.that means many of these homes sold for much more than $1 million. murray of the 80 plus home that sold how many were $1 mil or more?

 

[STL Don]

How are condo sales going?

 

[lenzoe]

Hi Murray, thanks for the on-going data and analyses. I follow your reports with interest.

You said the number of July 2011 sales were 83 for detached homes. What was the number in July 2004?

Also, like STL Don says, I'd be interested in hearing your figures on condo/townhome sales also.

Thanks again.

 

[Em]

Thanks for asking the questions, everyone. I'm sure that you are not the only ones wanting to know. Always feel free to dig in and start discussions on the real estate threads.

I'm not sure what happened to the more in-depth reply I made yesterday. It seems to have disappeared unless there is a duplicate thread out there. When I get a chance, I will try to find my reply post and repost here, as well as answer condo questions.

 

[Em]

JULY 2011 Home Sales in South Walton:
We had a few late entries, increasing the sales numbers slightly.

qty sold: 86
Avg sold price: $873,184
Median sold Price: $463,631 (half the sales are above and half are below)
High: $7,333,333
Low:$35,000
Avg Days on market: 205

25 of the 86 home sales sold for $1 million+
-6 of those sold for more than $2 million.
---4 of those were in Rosemary Beach and sold from $3.2 million to $7.33 million (two were $7 million+)

 

[Em]

Town Home Sales in South Walton: July 2011

by Murray Balkcom, Realtor
The Premier Property Group
Santa Rosa Beach, FL:

Town home sales have traditionally lagged behind detached home sales in South Walton and they continue that trend in July. Inventory is still trending downward from the high of 323 in June 2006. In July 2011, that number is down to 135, a decrease of 58%. The sold dollar volume is up, and so are the number of town home sales in South Walton. Continue reading →

 

[Kurt]

Thanks for the updates. Sure seems like Rosemary Beach has had some big sales recently. Yet you don't hear the same for Seaside. Are they not in MLS?

 

[Em]

Rosemary had three Gulf-front sales in July, one of which was cash (over $7million). There was also an incredible house which was second tier, but with great Gulf views, which sold for more than $4 million. There is definitely a bit of movement at the high-end and around $500,000, but much of that middle end around $500,000-$1 million has been slower to move.

I don't think you can compare Seaside to other developments. Seaside has historically been a place where people buy to own, not to flip. We never saw the churning in Seaside during the market's peak, so Seaside in general, didn't have many foreclosures compared to other areas. Seaside currently has only 27 homes listed, yet Rosemary Beach has 75 currently listed.

Seaside's Gulf front sales (two in the last six months), have pulled in more $1,156/sf and $1,581/sf, with sales of $3.4 million and $4.5+million, respectively.

 

[Em]

How are condo sales going?

condo sales in South Walton