Jan Metro Mkt #'s

[Bob]

Average lot sales price down almost 200k? Maybe all the activity is north of 98 now!?

 

[Smiling JOe]

So, what do you make of the data Joe? To a rube like me it looks kinda bad.

I have not had a chance to look closely at the data, as I have been busy today. At a glance, it simply shows what most of you already knew. Sales are down. Avg price on Single Family Homes is way up, a few more building permits pulled vs Dec 05, but that is expected with the Dec holidays.

These numbers do show the trend, hence the name, but keep in mind that the charts are comparing '06 to '05. 2005 was the best year on record in real estate, and it was a year of record natural disaster in this area.. Even if sales for 2006 are half as strong as 2005, that is nothing to moan about. Keep in mind that many people have no more than 10-15% actually invested in a property, so when you look at the real returns on cash outlay that could be had by selling at reasonable prices, investors should still do very well.

 

[Smiling JOe]

Average lot sales price down almost 200k? Maybe all the activity is north of 98 now!?

Remember that this data is for Walton County, not SoWal. The majority of land sales recently have been in NoWal, mostly in the Defuniak area, where a lot can sell for as little as $25,000. That had a serious impact on the reduction in avg price of lot sales. For the location of the sales, I am getting my data from memory of looking at the sales in Walton County on a daily basis.

 

[Amp22]

The last few years have been ridiculous. In years before that almost nothing sold outside of the Summer season, especially dead were November-February. This Summer will tell the story. I expect a lot of hemming and hawing while things settle, then a gradual return to normal steady appreciation. The biggest hardship will be among realtors, builders, developers, etc. who jumped in with both feet over the last few years. They'll have to tear themselves away or go back to their old jobs, which may not exist in SoWal for some.

 

[Smiling JOe]

The last few years have been ridiculous. In years before that almost nothing sold outside of the Summer season, especially dead were November-February. This Summer will tell the story. I expect a lot of hemming and hawing while things settle, then a gradual return to normal steady appreciation. The biggest hardship will be among realtors, builders, developers, etc. who jumped in with both feet over the last few years. They'll have to tear themselves away or go back to their old jobs, which may not exist in SoWal for some.

What old job? I never had a job before. ... at least for a while.

 

[Cork On the Ocean]

Good point about the impact of North Walton sales SJ. I can't help but wonder about JOE'S (not you) fantastic marketing and it's impact on all of the overextended people with lots in Watercolor and Watersound. No doubt S. Walton land took a hit but it will be interesting to separate the N walton land out and really get the picture on 30A. Thanks for the data.

 

[Miss Kitty]

Good point about the impact of North Walton sales SJ. I can't help but wonder about JOE'S (not you) fantastic marketing and it's impact on all of the overextended people with lots in Watercolor and Watersound. No doubt S. Walton land took a hit but it will be interesting to separate the N walton land out and really get the picture on 30A. Thanks for the data.

Does anyone know the impact this is having on Alys Beach, if any? Thanks.

 

[Smiling JOe]

Does anyone know the impact this is having on Alys Beach, if any? Thanks.

According to "my inside source" ;-), Alys Beach has been getting many lookers in the last few weeks, some of which have converted into very nice contracts now that they can see Alys Beach coming to life.

 

[Miss Kitty]

According to "my inside source" ;-), Alys Beach has been getting many lookers in the last few weeks, some of which have converted into very nice contracts now that they can see Alys Beach coming to life.

:clap_1: for them for me!!!

I plan on seeing the inside source in April!

 

[Smiling JOe]

:clap_1: for them for me!!!

I plan on seeing the inside source in April!

You best make an appoitment. :funn: