Image via Flickr from Robert S. Donovan
Single family home sales statistics for the Emerald Coast are now available for July 2014. The real estate market around our area and in Okaloosa and Walton counties are looking solid as we head into the end of summer.
Emerald Coast
- Closed sales increased 12.2%
- Pending sales rose 12.4%
- New listings increased 22.6%
- Median prices decreased 4.8%
- Inventory increased 27.8%
Okaloosa County
- Closed sales increased 5.2%
- Pending sales rose 11.7%
- New listings increased 18.5%
- Median prices decreased 7.9%
- Inventory increased 28.9%
Walton County
- Closed sales increased 29%
- Pending sales rose 15%
- New listings increased 45.2%
- Median prices fell 14.6%
- Inventory increased 29.7%
A few things to remember:
Pending sales do not directly correlate to the number of sales for the following month. Some sales never make it to the closing table, while others take longer than 30 days to close.
New listings contribute to the increase in overall inventory. The current inventory level is calculated using the existing inventory and the closed sales for the month. That’s why these two numbers don’t match.
Price and inventory are invariably linked. When inventory levels rise, competition increases for sellers. When buyers have more choices, prices tend to drop. Inventory levels tend to rise in the summer as this is the time of year many people choose to move.
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.
Next week, we’ll look at townhouse and condo sales for the month of July. Click here to view all of the sales date for the month of Jul
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