South Walton Market Report - October 2009

October 2009 was good month for real estate! Although the actual number of properties closed was lower than September, the average selling price was significantly higher in all property types except condos. Residential land is experiencing activity but there is still a large amount of inventory on the market. Detached single family homes continue to lead the way in closings. With the tougher condo financing options, many buyers are leaning towards homes. However, there are options for condo financing out there.

In South Walton,

there are 418 properties that are either contingent or pending for Detached Single Family, Attached Single Family, and Condos; and
there are 87 residential lots that are either contingent or pending.

For November 2009,

there are currently 98 detached single family, 14 attached single family, and 56 condo properties with contracts projected to close this month; and
residential lots have a fair amount of contracts pending or contingent with expected closing dates for November – 45 lots!

Let’s Do The Numbers*

Detached Single Family Properties

Number of Closings in October 2009 - 61
Total Sales Volume of all closings for month - $35,561,779
Average Days on Market - 276
Number of Detached Single Family Homes currently for sale in South Walton - 1585

Condos

Number of Closings in October 2009 - 35
Total Sales Volume of all closings for month - $13,630,930
Average Days on Market - 289
Number of Condos currently for sale in South Walton - 1428

Attached Single Family

Number of Closings in October 2009 - 4
Total Sales Volume of all closings for month - $740,900
Average Days on Market - 534
Number of Attached Single Family properties currently for sale in South Walton - 165

Residential Land

Number of Closings in October 2009 - 21
Total Sales Volume of all closings for month - $6,465,500
Average Days on Market - 289
Number of Residential Land parcels currently for sale in South Walton - 1428

Most Expensive Sales in South Walton – October 2009

Detached Single Family Homes

$1.875 M – WaterColor
$1.6125 M – Sandestin Resort
$1.5255 M – WaterColor

Condos

$1.02 M – Sanctuary by the Sea
$995,000 – Sanctuary by the Sea
$975,000 - Sanctuary by the Sea

*All information above was obtained from the Emerald Coast Association of Realtors Multiple Listing Service. These numbers do not reflect any sales that occurred without a Real Estate Brokerage or those not entered into the MLS system.