Single family home sales increased across the Emerald Coast in November, while inventory levels continue to drop. Walton County condo sales dipped over last year, while Okaloosa County condo sales remained strong. All sales statistics below compare November 2015 to November 2014.
Single Family Home Sales
Emerald Coast
- Closed sales increased 5.1%
- Pending sales decreased 1.3%
- Median prices increased 6.8%
- Inventory decreased 9.7%
- Months supply decreased 23.6% to 5.9 months of inventory, the lowest since current reporting began in 2011
Okaloosa County
- Closed sales increased 1.8%
- Pending sales saw no change from last year
- Median prices increased 9.5%
- Inventory decreased 9.3%
- Months supply decreased 24.2% to 4.8 months of inventory, the lowest since current reporting began in 2011
Walton County
- Closed sales increased 11.2%
- Pending sales increased 6.9%
- Median prices decreased 1.8%
- Inventory decreased 10.1%
- Months supply decreased 22.9% to 7.1 months of inventory, the lowest since current reporting began in 2011
Townhouse and Condo Sales
Emerald Coast
- Closed sales increased 5.8%
- Pending sales decreased 2.8%
- Median prices increased 6.5%
- Inventory decreased 1.2%
- Months supply decreased 10.4% to 8.9 months of inventory, the lowest level all year
Okaloosa County
- Closed sales increased 3.7%
- Pending sales decreased 9.4%
- Median prices increased 17%
- Inventory decreased 2.2%
- Months supply decreased 6.2% to 10.1 months of inventory, the lowest level all year
Walton County
- Closed sales decreased 18.8%
- Pending sales decreased 14.5%
- Median prices increased 3.7%
- Inventory decreased 8.7%
- Months supply decreased 18.3% to 7.8 months of inventory, the lowest since current reporting began in 2011.
A few things to remember…
As inventory continues to shrink and the months’ supply of homes for sale decreases, home sales may slow down as less options are available for buyers. We may also experience price increases as buyers are forced to compete for available properties.
A healthy real estate market (meaning neither buyer nor sellers have an “advantage”) is a six to eight month inventory. Below six months, it’s thought to be a seller’s market and above eight months is considered a buyer’s market.
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.
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 participant
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