Archives for October 2014

A Closer Look: Elliot Point

Depend on who you ask, Elliot Point may be called Elliot’s Point, Elliott’s Point, Elliott Point, or Elliot Point. Regardless, this great little neighborhood in Fort Walton Beach, Florida is at the center of what makes Fort Walton Beach special.

The entire area known as Elliot Point runs from Hollywood Blvd – the northeast side – to E. Miracle Strip Parkway, between Beal Parkway and the water. Close enough to the beach and shopping to make you feel connected and in the thick of things but also close enough to parks and the water to relax and enjoy the coastal life.

Elliot Point Elementary School

A well-rated school beloved by teachers, students, and parents alike, Elliot Point Elementary is in the heart of this part of Fort Walton Beach. The area has a crime rate below the national average so parents can feel safe living here, as well as sending your children to school. More than 600 children attend Elliot Point from grades Pre-K through 5th grade.

Parks

Depending on what you like to do for fun in your free time, you’ve got options around Elliot Point.

Ferry Park is a community park featuring a one mile walking path, disc golf course, tennis courts, a community recreation center, and little league fields. There’s also a playground for kids to let off some steam, and it’s a great place to bike or walk your dog.

Garniers Beach is a neighborhood park that offers the best of coastal living. Boat ramps allow you to launch off and enjoy the water or just bring the family for a picnic and playtime at the playground. Either way, it’s a peaceful way to spend your time.

 Shopping

Living in or around Elliot Point gives you access to some of the best shopping experiences Fort Walton Beach has to offer.

Uptown Station, home of the state’s largest American flag, isn’t just another strip mall – it’s a shopping and dining experience that’s fun for the whole family. With a playground and a splash pad to keep the kids busy in good weather, you can buy your groceries, go to lunch, get a new driver’s license, grab an ice cream treat, and buy new clothes all in one place. Walk around or drive and park – Uptown Station is designed for both.

Downtown Fort Walton Beach is home to local businesses and restaurants and is the most eclectic part of town. Get a new tattoo, buy gourmet treats for your pets, or grab your next pair of running shoes. Community activities are common in downtown and the area is home to some of the most beloved events – Billy Bowlegs’ and his pirates, local 5k races, and much more!

Living in the Elliot Point area puts you in the middle of what makes Fort Walton Beach a great place to live on the Emerald Coast. You’ll have to coastal life without the heavy tourism, shopping and dining without traveling too far, and a great place to raise a family!

Real Estate Sales on the Emerald Coast for August 2014

Image courtesy of Mark Moz via Flickr

The August real estate numbers for the Emerald Coast, including Okaloosa and Walton counties, are a mixed bag. Some good news, some not so good news – and the local real estate market continues moving forward.

Single Family Home Sales

Emerald Coast

• Closed sales increased 6.6%
• Pending sales rose 28.8%
• Median prices decreased 5%
• Inventory increased 25%
• Months supply increased 15.2% to 8.4 months of inventory

Okaloosa County

• Closed sales dropped 0.7%
• Pending sales increased 20.7%
• Median prices increased 2.6%
• Inventory increased 24.4%
• Months supply increased 15.5% to 7 months of inventory

Walton County

• Closed sales increased 18.3%
• Pending sales increased 45.3%
• Median prices fell 9.3%
• Inventory increased 27%
• Months supply increased 14% to 10.2 months of inventory

Townhouse and Condo Sales

Emerald Coast

• Closed sales decreased 23.4%
• Pending sales decreased 25.8%
• Median prices increased 29.3%
• Inventory dropped 4%
• Months supply increased 9.7% to 10.1 months of inventory

Okaloosa County

• Closed sales dropped 36.4%
• Pending sales fell 37.2%
• Median prices rose 35.6%
• Inventory decreased 2.2%
• Months supply increased 20.7 to 11.1 months of inventory

Walton County

• Closed sales decreased 19.1%
• Pending sales decreased 1.2%
• Median prices increased 11.6%
• Inventory rose 7.3%
• Months supply increased 11.2% to 10.2 months of inventory

A few things to remember…

A healthy inventory level for any real estate market is around 6 months supply of inventory. Anything over 8 is considered a high level of inventory and could begin to bring down prices as buyers are given more options and competition increases among sellers.

Townhouse and condo sales could be an indication of tighter financing options, insurance affordability, as well as the fact that the vacation season is winding down and demand is decreasing for resort or vacation properties. No one thing contributes to declining sales.

Pending sales are only an indication of the month ahead. In months with an increase in pending sales, you can expect sales to increase for the following month. A decline in pending sales may be an indication of lower sales the next month. It is not an automatic as sales often take more than 30 days to close, and a pending sales in June may affect sales data several months in the future.

All sales data is from the Emerald Coast Association of Realtors® (ECAR) Multiple Listing Service (MLS) and is compiled by Florida Realtors®, the state association for Florida. The Emerald Coast statistics cover both Okaloosa and Walton counties as well as surrounding areas based on the listings entered into the MLS by ECAR MLS participants.