New Home Sales Soaring in Walton County
April 13, 2012 by SoWal Staff
Let's take a look at real estate sales and what's been happening in Walton County lately. Single family new home sales are up 205% over March of 2011 and for the year they are up 169%.
DR Horton seems to be the trend leader in this category. They have more building permits than any other builder in Walton County at this time and new construction can be seen everywhere in the county including Mussett Bayou Estates, Santa Rosa Golf Villas, Peach Creek, Sacred Oaks, Driftwood Estates, Whispering Lakes, Water Oaks, and Windsor Estates.
New home construction has put a lot of people back to work and you can catch positive attitudes in the air in Walton County as well as some beautiful temperatures, smiles and sparkling water.
Resale of Homes in Walton County dropped by 18% for the month over same period last year. I guess why buy old when you can buy new for an incredible price? Year to date this is also holding true with an 11% drop overall in the resale category of homes.
New condo sales for the month of March dropped by 25% over March of 2011. This does not surprise me because we do not have many NEW condos in the market for sale any longer. Resale of existing condos were down slightly by 7% for the same period over 2011 and for the year down less than 1% over last year’s sales.
What are selling are LOTS. Lots were up 34% for the month and 127% for the year. They just are not making land any longer and people are grabbing up what they can for future building opportunity.
The number of foreclosures remained the same for the month and are even slightly down for the year by 17%. What is interesting and best to keep an eye on this next number is the total number of new filings for Lis Pendens or Notices of Foreclosures.
It is true that the banks have been holding these back and pretty soon we will see new inventory in this category. It rose 81% in the month of March and for the year is up 78%. Until all of these are sold, we will continue to see lower prices and great opportunities for buyers. If you are looking to buy, I work as an Exclusvie Buyer’s Agent and can help you get to the closing table smoothly.