Folks, this phenomenon is not going to stop anytime soon. Many of the newly assigned personnel are having to wait for homes to be built, as the national and local home builders are working diligently to keep pace. In many cases, the local builder’s have said they could be building more because of pre-sales, however the lenders are unable or unwilling to fund. I can assure you, there are many buyers looking for quality NEW homes in quality neighborhoods and are willing to wait because of their circumstances allows it. Oh yea, during this time period, the military housing inventory was drastically reduced based on NEW criteria in supply homes on base. SUPPLY AND DEMAND. Can’t explain it anymore.
I warned everyone about this phenomenon, and it is not going to stop anytime soon. There is many more factors in the planning which will fuel the fire. If you have any questions or thoughts, give me a call.
Real estate market mixed
Sales in Okaloosa and Walton increased in June over last year while Santa Rosa sagged
By DUSTY RICKETTS
Northwest Florida Daily News 315-4448 dricketts@nwfdailynews.com
The roller coaster that is the local real estate market had more ups and downs in June, but overall local real estate agents are optimistic about the numbers and the future. Metro Market Trends released its June sales reports for Okaloosa, Santa Rosa and Walton counties earlier this week. The number of single-family homes and condominiums sold in Okaloosa and Walton counties increased compared to sales from June 2010, but Santa Rosa County lagged behind sales from a year ago. “It’s exactly what I’ve kept saying, it’s going to be a great year,” said Jean Floyd, a local Realtor and president of the Emerald Coast Association of Realtors. “We’ve got so much happening in our area economically. With the 7th Special Forces and the F-35, it’s hard to say anything bad about what the housing market hopefully is going to be doing over the next two to three years. I feel like we’re in a recovery mode, still.” In Okaloosa County, 352 single-family homes were sold in June, an increase of almost 17 percent compared to the previous year. Condominium and townhome sales were up more than 54 percent. Walton County had an even larger increase, with single-family home sales jumping more 57 percent and condominium and townhome sales improving more than 109 percent. “I think people are getting more confident and realizing that we are such an affordable resort community when you compare to South Florida,” Floyd said. “We’re still a very affordable resort community.” Single-family home sales and condominium/townhome sales were both down about 8 percent in June in Santa Rosa County. Angela Campbell, association executive for the Navarre Area Board of Realtors, said Navarre’s numbers often are skewed by sales in the north end of the county. “All in all it’s still a promising market,” Campbell wrote in an email. “Agents are reporting heightened activity and traffic to our website, www. navarrehomesonline.com , is increasing exponentially.” However, real estate values continued to fluctuate in June.
According to Metro Market Trends, in Okaloosa and Walton counties the average sale price for condominiums and townhomes increased by 25 percent and 6.5 percent, respectively. At the same time, the average price for a single-family home dropped 2.6 percent The average price of each home sold in Okaloosa County in June was $211,952, a slight decrease from June 2010, when the average home sold for $217,558. Condo/townhome values were up 25 percent, from $191,457 in 2010 to $240,956 last month. In Walton County, the average single-family home sold for $397,694, a 15 percent decrease from 2010, when the average home sold for $468,392. Condo/ townhome values in Walton County were $295,324, a 6.5 percent increase from 2010. That trend was reversed in Santa Rosa County, where the average single-family home price increased 4.2 percent and the average condominium/townhome sold for 17 percent less. The average single-family home sold for $186,420 in June and the average price for a condo/ townhome was $169,318.
I warned everyone about this phenomenon, and it is not going to stop anytime soon. There is many more factors in the planning which will fuel the fire. If you have any questions or thoughts, give me a call.
Real estate market mixed
Sales in Okaloosa and Walton increased in June over last year while Santa Rosa sagged
By DUSTY RICKETTS
Northwest Florida Daily News 315-4448 dricketts@nwfdailynews.com
The roller coaster that is the local real estate market had more ups and downs in June, but overall local real estate agents are optimistic about the numbers and the future. Metro Market Trends released its June sales reports for Okaloosa, Santa Rosa and Walton counties earlier this week. The number of single-family homes and condominiums sold in Okaloosa and Walton counties increased compared to sales from June 2010, but Santa Rosa County lagged behind sales from a year ago. “It’s exactly what I’ve kept saying, it’s going to be a great year,” said Jean Floyd, a local Realtor and president of the Emerald Coast Association of Realtors. “We’ve got so much happening in our area economically. With the 7th Special Forces and the F-35, it’s hard to say anything bad about what the housing market hopefully is going to be doing over the next two to three years. I feel like we’re in a recovery mode, still.” In Okaloosa County, 352 single-family homes were sold in June, an increase of almost 17 percent compared to the previous year. Condominium and townhome sales were up more than 54 percent. Walton County had an even larger increase, with single-family home sales jumping more 57 percent and condominium and townhome sales improving more than 109 percent. “I think people are getting more confident and realizing that we are such an affordable resort community when you compare to South Florida,” Floyd said. “We’re still a very affordable resort community.” Single-family home sales and condominium/townhome sales were both down about 8 percent in June in Santa Rosa County. Angela Campbell, association executive for the Navarre Area Board of Realtors, said Navarre’s numbers often are skewed by sales in the north end of the county. “All in all it’s still a promising market,” Campbell wrote in an email. “Agents are reporting heightened activity and traffic to our website, www. navarrehomesonline.com , is increasing exponentially.” However, real estate values continued to fluctuate in June.
According to Metro Market Trends, in Okaloosa and Walton counties the average sale price for condominiums and townhomes increased by 25 percent and 6.5 percent, respectively. At the same time, the average price for a single-family home dropped 2.6 percent The average price of each home sold in Okaloosa County in June was $211,952, a slight decrease from June 2010, when the average home sold for $217,558. Condo/townhome values were up 25 percent, from $191,457 in 2010 to $240,956 last month. In Walton County, the average single-family home sold for $397,694, a 15 percent decrease from 2010, when the average home sold for $468,392. Condo/ townhome values in Walton County were $295,324, a 6.5 percent increase from 2010. That trend was reversed in Santa Rosa County, where the average single-family home price increased 4.2 percent and the average condominium/townhome sold for 17 percent less. The average single-family home sold for $186,420 in June and the average price for a condo/ townhome was $169,318.
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