Real Estate is local. Here in the Panhandle we have not seen the losses of like cities in California, Las Vegas, Detroit, or Memphis. Resort properties seem to recover faster than other areas of the country. With Southwest Airlines bringing new passengers from never visited originations before, we have seen a steady increase of buyers this year. The following numbers are reflective of the Bay County or Panama City Beach, FL report on sales for the month of September 2011.
Condos were slightly down in the month of September 16% over the same period for 2011. Year to Date Condos are up 28% over last year.
Residential Lots were up 50% for the month of September over same period for 2011. Year to Date lots are up 10%. This is one category they are not making any longer. There only is so much land and once it is gone, it is gone. Prices are incredible on lots right now.
Overall, the total market for all categories is 20% higher than the same period last year. Nice to see many new building permits being pulled again as well.
The best news is that Foreclosures are actually lower by 46% over last year. The inventory of Foreclosures has been cut in half over the last year and with inventory slowly decreasing, prices will rise.
If you are ever thinking about buying, now couldn’t be a better time. Interest rates are at an all time low and prices are still very reasonable.
I work as your buyer’s representative helping you to save time, money, and avoid mistakes in the buying process. I look forward to hearing from you and assisting you with your next purchase. Please feel free to call me at 850-420-2480 or email me at Kelly@KellyKleinSoldMine.com
Lifeguard Real Estate, Inc. Broker, Owner, Realtor