Walton County Florida Real Estate Report for July 2020

I'd love to hear from realtors, sellers, and buyers what is happening ... I have never seen numbers jump like this. I know we have a lot of people moving here but rental properties are also getting snapped up. Sales and prices are surging the last 2 months and inventory is dropping hard.

Single family homes closed sales were up 85.9% in July 2020 compared to the same month last year. Pending sales for Walton County were up 69.8% in July! The inventory of active listings was down 27.4%. Median sales price was up 47.1%. Dollar volume was up 155.7% over last year at $471.8 Million.

Condominium and townhome closed sales were up 184.9% in July 2020 compared to the same month last year.

Months Supply of Inventory for Walton County single family home sales was down 36.8% compared to the same month last year at 3.6 months for July 2020.

Walton County Florida Real Estate Report for July 2020

Sometimes I miss SHELLY. When I see a lot with a broke down old trailer on it go for $310K in Gulf Shore Manor (closed last week), I wonder what people are thinking. Florida's history is one of seemingly endless real estate booms and busts, and I suspect the bubble is again getting pumped by investulators.

Crazy times. Low interest rates make safe investments unattractive and they make borrowing money less expensive. I think a lot of money is being borrowed and also being moved out of safe investments and into equities and real estate.

Sometimes I miss SHELLY. When I see a lot with a broke down old trailer on it go for $310K in Gulf Shore Manor (closed last week), I wonder what people are thinking. Florida's history is one of seemingly endless real estate booms and busts, and I suspect the bubble is again getting pumped by investulators.

Well if you can put an 8BR rental with pool on it ...

Crazy times. Low interest rates make safe investments unattractive and they make borrowing money less expensive. I think a lot of money is being borrowed and also being moved out of safe investments and into equities and real estate.

I was thinking some investment money might be getting shifted to real estate. Cash sales for single family homes in July were up 96.7% over the same month last year. Condo cash sales were up 256.3%.

It would be interesting if we could see a ratio of sales: rental properties to primary residence. Also a breakdown of cash vs financing for each. But I suppose the only way to get the info would be questions directly to buyers.