CHANDLER'S REPORT: April showers or stormy weather?

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

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.

Freeport to Niceville

The Freeport and Hwy. 20 area showed declines in both volume and price. There were 9 vacant lot sales, down from 14 in April 2013. The average price of lots was down from $70,929 to $60,722 this year.  There were 13 single family home sales, unchanged from last April. The average price of a home was $197,603, down 9 percent from $217,100 last year. Per square foot, the average price was $98, up 14 percent from $86 last year. 

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.



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