The Real Trend Report for Walton County Florida and Real Estate Sales Activity just came out. I love this statistical overview of the county I live and work in. It is eye opening and usually is so true of what my own personal business is doing.
Surprising this month is the number of new home sales that occured in June. There were 29 of them as compared with June of 2010 when there were just 20. This is a one month increase of 45% for this one month comparison. It is evident too. I see new homes starting to go up again everywhere. I love new construction as it means that people are working again. If you want to add jobs, I cannot think of any other industry that offers a trickle down job plus environment. It is good to see. Even for the year to date numbers, new home sales in our area are up 19,51% over year to date figures for 2010.
Resales for the month of June were up a whopping 60.76%. Do you think maybe we moved some inventory in the month of June? Wowie, we sure did. This was evident by my own sales numbers as well. It was my best month in the business ever. We sold 127 homes in the month of June. Year to date figures show us up just 16% overall, but still up.
Let’s talk about condos. It is not surprising that there are not but 2 new condo sales in our area. We are just about out of land and there are no new condo projects going vertical anytime soon. However, the resale category of condos were up 109.72% in the month of June. In some areas, inventory has dropped to a low of just 12 weeks left on the store shelf. Whew, can I run any faster? Condos are selling again. Thank goodness because I live in a resort market where this is the number one product that buyers want. The banks have tight requirements, but I even see these beginning to loosen up a bit. Year to date figures show that we are up in this category by 38.15%.
About the only thing that is selling off our store shelves right now are residential lots. Down by almost 25% for the month and down 3.26% for the year.
The number of foreclosures have dropped significantly. Down 47.12% for the month and down 26.76% for the year. This is great news that they are finally leaving the marketplace and we should see a normalcy returning to the market soon.
Bottom line is this, if you are thinking of ever buying a property in Fort Walton Beach, Destin, Miramar Beach, Sandestin, Miramar Beach, Dune Allen Beach, Blue Mt. Beach, Gulf Place, Grayton Beach, Watercolor, Seaside, Seagrove, Watersound, Alys Beach, Seaside, Rosemary Beach, or Panama City Beach, FL (whew) you had better buy this year. Waiting no longer makes any sense at all. All of the facts, statisitics, etc. show that inventory levels are dropping quickly and it all goes back to supply and demand. Remember economics 101? One of my favorite classes. Prices will rise as inventory goes down.
I look forward to hearing from you. If you just want to keep an eye on the market, or looking to buy, I want to assist with your needs. You can reach me at Kelly@KellyKleinSoldMine.com or at my website at http://www.KellyKleinSoldMine.com or on my cell phone at 850-420-2480
I work as a Buyer’s Representative and help buyers save money, time, avoid costly mistakes and hold their hand throughout the entire process from beginning to end. I am here for you too.
Have a great day!
Kelly Klein, Broker / Owner / Buyer’s Representative Lifeguard Real Estate, Inc.