Chandler’s Report: Up, Up and Up, 1st quarter 2014

Published: Wednesday, April 16, 2014 at 16:31 PM.

Sales volume and average prices were up throughout Walton County in the first quarter of 2014 compared to the first quarter of 2013.  The Emerald Coast of Realtors  (ECAR) reported a total of 1122 residential sales in the first quarter of 2014, up 41 percent from 794 sales in the first quarter of 2013. Of these, there were 259 vacant lot and land sales, up 5 percent from 247 in the first three months of 2013. The average price of all land sales was $274,216, up 52 percent from the first quarter 2013 average of $179,845.  There were 863 home sales, up from 547 in February 2013 with an average price of $483,827, up 16 percent from $416,221.  A more detailed breakdown by area follows.

Miramar Beach / Sandestin:

There were 16 vacant lot sales, down from 18 in the first quarter of 2013. The average price was up, from $178,633 to $251,213. There were 104 single family and townhome sales, up 28 percent from 81 in the first three months of 2013. Condominium sales were also up, with 134 in the first quarter of 2014 and 102 in the same time period of 2013. The average price of a single family home was $492,221, down slightly from $504,127. Per square foot, the average price was $206, up from $203 last year.  In the first quarter of 2014, the average price of condos was up 21 percent, from $294,269 to $356,099 this year with an average price per square foot of $266, up 13 percent from $235.

30A Area, West of Grayton Beach State Park :

There were 77 vacant lot sales, up from 48 in the first quarter of 2013. The average price was up 38 percent, from $221,776 to $306,381. There were 69 single family and townhome sales, up from 51 in the first three months of 2013. Condominium sales were also up, with 27 in the first three months of 2014 and 21 in the same time period of 2013. The average price of a single family home was $664,680, up 17 percent from $566,096. Per square foot, the average price was $246, up 15 percent from $214 last year.  The average price of condos was down, from $485,238 in the first quarter of 2013 to $411,741 but the average price per square foot was $293, up 15 percent from $255 last winter.

30A Area, East of Grayton Beach State Park :

Single family and condominium sales dominated this area, overall up 86 percent from the first three months of 2013.  There were 186 single family and townhome sales, up from 100. Condominium sales were dramatically up, with 79 in the first three months of 2014 and 32 in the same time period of 2013. The average price of a single family home was $925,457 up 16 percent from $794,355 in the first three months of 2013. Per square foot, the average price was $370, up 20 percent from $307 last year.  In the first quarter of 2014, the average price of condos was up 58 percent, from $326,342 in the first quarter of 2013 to $514,756 and the average price per square foot was $374, up 44 percent from $260 last February. There were 71 vacant lot sales, slightly down from 72 in the first quarter of 2013. The average price was up 53 percent, from $353,968 to $541,563. There was a standout this March, a Gulf front lot in Alys Beach for $5,230,000.



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