Well, I went to bed last night with temperatures right around 72 degrees to wake up to thunderstorms and tornado watches rolling through the area until around 9 a.m. this morning. Then the temperature started to drop. It is 53 degrees right now and it is supposed to drop to just above 32 degrees tonight. Tomorrow night it can drop down to 29 degrees. I had three different weather alerts that I woke up to this morning. This is crazy you say. I know……so what does this have to do with real estate? Let’s take a look at Walton County Florida for the month of October 2014.
New home sales abound everywhere. With new players like D.R. Horton communities and older players coming back into the market like St. Joe Properties with new homes in Watersound Origins, new home sales are up 22% over same period last year. You can actually see new home construction everywhere and there is a buzz in the air from happy looking people making money again. I can attest to the new homes going up. I had four flat tires this past year and I am a proud member of Pep Boy’s Free Flat Repair Service.
So what is happening with resale of homes you ask? Well they are about the same as last year. Holding steady with 1,323 homes resold in Walton County in 2014. When people can buy new or old, they are mostly buying new.
Where does this leave the condo market? Condos are down for the year by 4.03%. Condo loans continue to require 25% down in order to buy and condo fees in some complexes have removed many buyers from the market by just costing too much to own.
Gee, I wonder what lot sales are like now? They are down 19.80% over last year due to rising prices. The best year to buy a lot was 2009 when the prices were 1/4 of the price now. Steadily rising slowly has slowed the investor or would be primary home buyer down a bit.
Are there still foreclosures in Walton County? Yes there are and they are rising right now with banks letting loose of inventory as they see the prices going up. There are 14.66% more than last year in the market.
So if you are wanting to buy either a home, a condo, a townhome, or a lot in Walton County, FL please allow me to assist you. I know what a good deal looks like and can find one for you.
Here are my best friends in the world below. One look at them tells you we are friendly here and a close community. I hope to see you at the BEACH !