Nate’s Emerald Coast Market Update Q1

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Walton County

For the first quarter of 2014, single family home sales in Walton County, Florida increased about 7.5% – 13.67% from 2013 to 21.26% 2014 Q1. Total home sales increased as well as total dollar volume. Walton County condominium sales increased 9.58% with a 40.1% increase in volume.

These statistics tell us that from January through March 2014, Walton County saw a nice increase in real estate sales. If the market keeps this trend and you own property in Walton County, 2014 may be the perfect year for you to sell.

Read the Walton County First Quarter Report compiled by the Association of Florida Realtors.

 

Okaloosa County

In Okaloosa County there was actually a decrease in both home and condominium sales during the first quarter of 2014. There were 14 less Gulf front condominiums sells in Destin compared to the first quarter of 2013. However, the average price per square foot increased $22, average total price increased $53,284 and the condos were on the market an average of 37 days less . In Miramar Beach there were only four less Gulf front condominium sells compared to the first quarter of 2013. The average price per square increased $44, average total price increased $103,587 and the condos were on the market an average of 66 days less. The same trends carried through in Destin and Miramar Beach for single family detached homes and residential land. To see more details, download ResortQuest’s Quarter 1 Report.

 

Bay County

For Bay County, single family home sales increased 25.24% and 29.59% in volume. If you own a residential single family home in Panama City or Panama City Beach, contact the Nathan Abbott Team for a free market analysis of your property. You may be surprised at the current market value of your property. While the single family home statistics increased, condominium sales actually decreased over the first quarter by 13.85% and 4.8% in volume.

Nationwide, existing-home sales remained level in March while home prices saw moderate growth, according to a recent report by the National Association of REALTORS (NAR).

 

If you would like to know more about the real estate market in Okaloosa Island, Destin, South Walton or Panama City, contact the Nathan Abbott Team with any questions. We have Seller Specialists and Buyer Specialists waiting to hear from you and we are here help you make the best real estate decision in 2014.

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