Just curious what experiences folks are having.
Fewer local properties are on the market today than there were a year ago, and a local Realtor says that’s a sign the market is recovering.
Florida Realtors, the largest real estate organization in the state, recently released its market updates for March sales in Okaloosa, Walton and Santa Rosa counties.
Okaloosa County had 2,498 properties — single-family homes, townhomes and condominiums — on the market in March. That’s a 27.43 percent decrease from March 2011, when 3,442 properties were up for sale.
Walton County had 2,006 properties for sale last month, a 29.69 percent decrease from the previous March. Santa Rosa County had 1,419 properties on the market, a decrease of 28.57 percent from last year.
“There are plenty of other signs of improvement,” Judi Rutland, president of the Emerald Coast Association of Realtors, said in an email. “A positive sign for Okaloosa and Walton counties is a decrease in inventory levels for all property types.
“It’s basic economics, supply and demand,” she added. “As the supply goes down, the demand will go up. Once demand increases, the prices will begin to go back up.”
Sales were up nearly across the board in March compared to last year, according to Florida Realtors’ report. However, property values continued to fluctuate.
Here are the details:
In Okaloosa, 238 single-family homes were sold in March at an average sales price of $207,649, and 70 townhome/condo units were sold at an average price of $271,671. In March 2011, 221 single-family homes were sold at an average of $205,451 and 52 townhome/condo units were sold for an average of $266,578.
In Walton, 129 single-family homes were sold in March at an average price of $434,122, and 78 townhome/condo units were sold at an average price of $264,029. Last March, 127 single-family homes sold for an average of $411,733 and 85 townhome/condos were sold at an average of $337,476.
In Santa Rosa, 201 single-family homes were sold last month at an average price of $176,458 and 10 townhome/condos were sold at an average of $179,500. Last March, 175 single-family homes were sold at an average price of $182,226 and nine townhome/condos sold for an $196,500.
With the exception of townhomes and condos in Okaloosa County, properties are spending less time on the market than in 2011, according to the Florida Realtors’ report.
“The real estate market, like the local economy, is experiencing improvement across the board,” Rutland wrote. “The path it takes may be slow and halting, with rough patches here and there, but improvement continues to occur.”
Fewer local properties are on the market today than there were a year ago, and a local Realtor says that’s a sign the market is recovering.
Florida Realtors, the largest real estate organization in the state, recently released its market updates for March sales in Okaloosa, Walton and Santa Rosa counties.
Okaloosa County had 2,498 properties — single-family homes, townhomes and condominiums — on the market in March. That’s a 27.43 percent decrease from March 2011, when 3,442 properties were up for sale.
Walton County had 2,006 properties for sale last month, a 29.69 percent decrease from the previous March. Santa Rosa County had 1,419 properties on the market, a decrease of 28.57 percent from last year.
“There are plenty of other signs of improvement,” Judi Rutland, president of the Emerald Coast Association of Realtors, said in an email. “A positive sign for Okaloosa and Walton counties is a decrease in inventory levels for all property types.
“It’s basic economics, supply and demand,” she added. “As the supply goes down, the demand will go up. Once demand increases, the prices will begin to go back up.”
Sales were up nearly across the board in March compared to last year, according to Florida Realtors’ report. However, property values continued to fluctuate.
Here are the details:
In Okaloosa, 238 single-family homes were sold in March at an average sales price of $207,649, and 70 townhome/condo units were sold at an average price of $271,671. In March 2011, 221 single-family homes were sold at an average of $205,451 and 52 townhome/condo units were sold for an average of $266,578.
In Walton, 129 single-family homes were sold in March at an average price of $434,122, and 78 townhome/condo units were sold at an average price of $264,029. Last March, 127 single-family homes sold for an average of $411,733 and 85 townhome/condos were sold at an average of $337,476.
In Santa Rosa, 201 single-family homes were sold last month at an average price of $176,458 and 10 townhome/condos were sold at an average of $179,500. Last March, 175 single-family homes were sold at an average price of $182,226 and nine townhome/condos sold for an $196,500.
With the exception of townhomes and condos in Okaloosa County, properties are spending less time on the market than in 2011, according to the Florida Realtors’ report.
“The real estate market, like the local economy, is experiencing improvement across the board,” Rutland wrote. “The path it takes may be slow and halting, with rough patches here and there, but improvement continues to occur.”