2011 real estate figures summary

[Jim Tucker]

Metro Market Trends recently released its year-end reports for sales of single-family homes, condominiums and townhomes in Walton county.

The number of single-family homes sold in Walton County increased 19.6 percent, from 1,369 in 2010 to 1,637 last year. Condo and townhome sales increased 34.5 percent, from 837 units sold to 1,126.


The average single-family home price in 2011 was $443,097, a 6.3 percent increase from 2010’s average price of $416,657. The average condo/townhome price of $288,915 represented an 11 percent decrease from 2010’s average price of $324,804.

 

[30A Skunkape]

Metro Market Trends recently released its year-end reports for sales of single-family homes, condominiums and townhomes in Walton county.

The number of single-family homes sold in Walton County increased 19.6 percent, from 1,369 in 2010 to 1,637 last year. Condo and townhome sales increased 34.5 percent, from 837 units sold to 1,126.


The average single-family home price in 2011 was $443,097, a 6.3 percent increase from 2010’s average price of $416,657. The average condo/townhome price of $288,915 represented an 11 percent decrease from 2010’s average price of $324,804.

An interesting contrast of houses 'going up' and condos 'going down' in value. Without knowing any other facts, and I'm sure I'll stand corrected if wrong, my guess would be single family home values are skewed upward thanks to the multi-million dollar beach mansions selling in Rosemary, etc. My guess is that the condo/townhome numbers are more accurate indicators of what mere financial mortals are doing. OK realtors, cue the graphs and show me where I'm wrong

 

[Em]

Skunkape, I think you are likely on target with your analysis. Add to that, financing is much tougher to get on condos than on detached homes, so that drives demand and price downward on condos.
I'll be reporting more in depth in the near future. I've been waiting on some of the busy agents to finish reporting their closings, before running the numbers. Every month, they trickle in late, and this being the year end, I want to give them ample time to report. I'll report here, but also remember to subscribe to my monthly email updates on the market if you want to see some exclusive content. Stay tuned.