Sales volume and average prices were down in most areas of
There were five vacant lot sales, down from 19 in April of 2013. The average price was up, from $130,342 to $205,200. There were 28 single family and townhome sales, down slightly from 31 in April 2013. Condominium sales were also down, with 38 in April 2014 and 46 in the same time period of 2013. The average price of a single family home was $576,063, up 6.7 percent from $539,575 last April. Per square foot, the average price was $244, up from $211 last year. In April 2014, the average price of condos was up dramatically, from $280,098 to $413,191 this year with an average price per square foot of $267, up 15 percent from $232. Please note that this year there were three sales over $1,300,000 while the highest priced condominium to close in April 2013 was $890,000.
30A Area, West of
There were 13 vacant lot sales, down from 18 in April of 2013. The average price was also down, from $278,717 to $145,577. There were 15 single family and townhome sales, down from 27 in April of 2013. Condominium sales were also even, with six closings in both April 2013 & 2014. The average price of a single family home was $596,967, down 1.8 percent from $607,170 in April 2013. Per square foot, the average price was $280, up 13 percent from $247 last year. The average price of condos was down, from $766,917 in April 2013 to $187,167. The average price per square foot was $267, down 10 percent from $298 last April. Again, having a small number of sales can make the statistics look overly dramatic. In April 2013, five of the six sales were for more than $500,000 while in April 2014, the highest priced of the six closings was $259,000.
30A Area, East of
This area remains the strongest in both sales volume and average prices in
South of the Bay, North of Hwy 98 (excluding Sandestin)
Both average sales prices and number of sales were up in this area. There were 15 vacant lot sales up from 10 in April 2013. The average price was up, from $100,920 to $155,493. There were 25 single family sales, unchanged from last April. The average price of a home was $321,579, up from $190,547 in April 2013. Per square foot, the average price was $147, up 28 percent from $115 last year. One of the sales this April was of an 18 acre bay front estate for $3,000,000, thus skewing the average prices.
North Walton County, including DeFuniak Springs
There were 10 vacant lot sales, up from 6 in the April of 2013. The average price was down from $39,183 to $18,280 this April. There were 29 single family sales, slightly up from 28. The average price of a home was $94,676, down 16 percent from $113,388 in April 2013. Per square foot, the average price was $62, up 9 percent from $57 last year.
Are these price and volume changes an indication that perhaps the prices, especially in the resort areas of the county were going up too fast causing the buyers to slow down in their purchasing decisions, or just a blip? With a small number of sales, it is hard to derive truly meaningful statistics. Let’s see what happens in May to know what the real estate weather will bring.