Emerald Coast Single Family Home Sales in June

Emerald Coast Single Family Home Sales in June

Image via Flickr from Mark Moose

This week, let’s look at single family home sales along the Emerald Coast and in Okaloosa and Walton counties. Whether you’re a buyer or a seller, there’s good news to be found in this month’s information. All of the following sales information is for June 2014 and is compared to the same time last year.

Emerald Coast

• Closed sales increased 14.9%
• Pending sales increased 25%
• New listings increased 24%
• Inventory increased 25.6%
• Median prices decreased 3.1%

Okaloosa County

• Closed sales increased 20.4%
• Pending sales increased 25.6%
• New listings increased 37%
• Inventory increased 29.3%
• Median prices decreased 3.8%

Walton County

• Closed sales increased 10%
• Pending sales increased 36.7%
• New listings increased 25.2%
• Inventory increased 27.7%
• Median prices decreased 3.3%

A few things to keep in mind…

The numbers for the Emerald Coast include both Okaloosa and Walton counties, as well as sales from outside those areas as input by participants in the ECAR MLS.

Because new listings increased, inventory went up as well. The two numbers aren’t the same because of the existing inventory already in place. A rise in inventory and listings can be an indicator of seller confidence.

Pending sales aren’t an exact indicator of the closed sales for the following month, in this case, July. Not all pending sales make it to the closing table. Some sales take more than 30 days to close, especially short sales.

Median price means that half of the homes sold for more and half sold for less. With an increase in supply, buyers have more to choose from and prices can fall because of that. The three percent decrease is no cause for alarm at this point.

Next week, we’ll look at the townhouse and condo sales for June.

Real estate sales statistics for the Emerald Coast and Okaloosa and Walton counties are available from the Emerald Coast Association of Realtors® (ECAR). All statistics are compiled from the ECAR Multiple Listing Service (MLS) by the Florida Realtors®.