CHANDLER'S REPORT: April showers or stormy weather?

Published: Saturday, May 17, 2014 at 09:04 AM.

Sales volume and average prices were down in most areas of Walton County in the month of April 2014 compared to April of 2013. The Emerald Coast Association of Realtors reported a total of 279 residential sales in April 2014, down 17 percent from 336 sales in April 2013. Of these, there were 72 vacant lot and land sales, down 26 percent from 98 in the April 2013. The average price of all land sales was also down, from $256,691 to $202,140 in April 2014. There were 207 home sales, down from 238 in April 2013 with an average price of $501,737, up 4.2 percent from $481,324 in April 2013. A more detailed breakdown by area follows.

Miramar Beach/Sandestin

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 Grayton Beach State Park

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 Grayton Beach State Park

This area remains the strongest in both sales volume and average prices in Walton County but showed declines this April.  There were 41 single family and townhome sales, down 15 percent from 48 last April. Condominium sales were slightly down, with 12 in April 2014 and 14 in the same time period of 2013. The average price of a single family home was $977,454 down 1 percent from $987,949 in April 2013. Per square foot, the average price was $402, up 9 percent from $368 last year.  In April 2014, the average price of condos was dramatically up, from $411,889 in April of 2013 to $710,125 and the average price per square foot was $411, up 47 percent from $279 last April. There were 20 vacant lot sales, down from 31 in April 2013. The average price was also down, from $497,581 to $428,695.



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