The average number of days that residential properties remain on the market has been trending lower for 3 consecutive months and is now less than 78 days for homes on the West End of 30A - see
Some Walton County Stats
Lets look at some numbers produced by Florida REALTORS® with data provided by Florida's multiple listing services. The first quarter data for 2017 does not come out until May, 15, so this is the most recent quarterly data. Our market is hot. Prices and inventory are both up meaning demand is really up. We can also see this in the fact months supply of inventory held steady with an increase of inventory on the market. Right around 30 percent of the homes sold in Q4 in Walton county cost $600,000 or more, and the majority of those were above $1,000,000.
In neighboring Bay County months supply of inventory is around 5 months. Florida REALTORS® state "Economists' note : MSI is a useful indicator of market conditions.The benchmark for a balanced market (favoring neither buyer norseller) is 5.5 months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market. There is nosingle accepted way of calculating MSI. A common method is todivide current Inventory by the most recent month's Closed Salescount, but this count is a usually poor predictor of future Closed Salesdue to seasonal cycles. To eliminate seasonal effects, we use the 12-month average of monthly Closed Sales instead."
To end with something other than boring stats, spring weather is here and so are the spring breakers. Remember if you are in Panama City you can not drink on the beach for a few more days. Not being able to drink on the beach for the month of March has spring break traffic in Panama City down as much as 70%. I would believe this from what I have seen. Walton County and Okaloosa County seem busier than last year but Bay County is noticeably slower.
Jonathan grew up in Birmingham, Alabama and vacationed from 30A to Destin every time he got a chance while growing up. He attended The University of Alabama where he double majored in finance and busi....