Santa Rosa Beach, FL – Pending sales for the combined sales category of homes, condos & town homes rose 128% in May 2011 compared to May 2010. Comparing the pending sales in May to the previous month, we saw an increase of 17% and this number gives a little more realistic view to what is happening in the market. Notice the red bars in the chart which represent the previous twelve months and you will see that in 2010, pending sales decreased 46%, from 185 to 100 from April to May. I hate to bring up the BP oil disaster, but here in Walton County, we had many people worried about what might happen to the beach. Buyers put on the brakes in May, and we really saw the difference in sales starting in June. That pause continued through July 2010. So, don’t be surprised when you read the headlines for June and July sales, which will be reported next month. The sales numbers will sound fantastic, but maybe you will have more useful information by comparing sales to the previous months, rather than the previous year.
Take a moment and look at the gold-colored bars in the chart to see the most recent twelve month’s pending sales. That 17% increase is a good sign, especially compared to the National Association of Realtors recent report stating that the first quarter of 2011 saw a decrease in pending sales of 16% compared to the first quarter sales of the the previous year. 228 pending sales should leave us with continued increases in sales for June and July.
As a reminder, pending sales are only an indicator of potential future sales. Not all pending sales go to closing.
Murray Balkcom is a licensed Realtor with The Premier Property Group, serving South Walton.
All sales data referenced above is provided by Emerald Coast Association of Realtors and is thought to be accurate but not guaranteed.