Has South Walton Real Estate Bottomed Out?
September 27, 2011 by Murray Balkcom
So the heat of the summer has left South Walton along with the people on vacation, but the home sales are still around, and looking very strong.
When we compare August home sales in South Walton dating back to the year 2000, we see that August 2011 is a banner month, the second best August on record, since ECAR (Emerald Coast Association of Realtors) has been keeping records.
Buyers often talk about waiting until they see the market making an upturn before making their purchase. Many buyers may miss their mark with that philosophy because they are still waiting on the good deals to come along, while other buyers are jumping back in full-force. The good deals go quickly, on the occasion they do come on the market.
Comparing the median sold price in August for homes in South Walton over the last twelve years, we see a bit of growth, followed by slight declines. These declines in median selling price is a big motivator for buyers, hence the increase in the quantity of sales.
With the increase in the number of sales, we’ve also seen an increase in the total sold dollar volume in August for home sales in South Walton for 2011. Remember, we are just comparing August sales from different years in each of these charts. August 2011 shows the third highest dollar volume of home sales, according to ECAR, with $53,325,652 reported home sales.
Are you still sitting on the sidelines, waiting for others to jump back in? They say hind-sight is 20/20. No one can guess where the next bottom is in the future, but looking at the number of past sales, it sure appears that this bottom is somewhere behind us.
All sales data referenced above is provided by Emerald Coast Association of Realtors and is thought to be accurate but not guaranteed.