Chandler's Report: Year ends on a high note
Home buyers and home sellers were all singing a happy song through much of 2014. The monthly fluctuations that were reported throughout the year evened out by the end so that overall, the average prices and number of sales were up throughout Walton County in 2014.
The Emerald Coast Association of Realtors reported a total of 3,630 residential sales in 2014, up 1 percent from 3,593 sales in 2013. Of these, there were 817 vacant lot and land sales, down 17 percent from 983 last year. The average price of all land sales was up 26 percent, from $218,159 to $275,063 in 2014. There were 2,813 single family and condominium sales, up 8 percent from 2610 in 2013 with an average price of $508,372 up 6.6 percent from $476,678 in 2013. A more detailed breakdown by area follows.
MiramarBeach/ Sandestin
There were 62 land sales this year, down 44 percent from 112 in 2013. The average price was up 35 percent from $213,547 in 2013 to $331,024 this year. There were 354 single family and townhome sales, up 6 percent from 334 in 2013. The average price of a single family home was slightly up, from $542,302 to $546,503 in 2014. Per square foot, the average price was $229, up 8 percent from $212 last year. Condominium sales were down 4 percent, with 468 in 2014 and 487 in 2013. The average price of condos was up 12 percent, from $323,107 to $363,112 in 2014, with the average price per square foot rising 10 percent from $248 in 2013 to $273 this year.
30A Area, West of Grayton Beach State Park
There were 173 vacant lot sales, down 14 percent from 202 in 2013. The average price was down 10 percent, from $247,140 to $223,042. There were 256 single family and townhome sales, up 2 percent from 251 in 2013. The average price was $570,067, up 2.5 percent from $556,237 in 2013. Per square foot, the average price was $237, up 3.5 percent from $229 last year. Condominium sales were down 22 percent, with 87 this year and 112 last year. The average price of condos was down 7 percent, from $561,338 in 2013 to $520,575 this year. The average price per square foot however, was up 14 percent to $328, from $287 last year.
30A Area, East of Grayton Beach State Park
This area, which includes the communities of Seaside, Watercolor, Watersound, Alys Beach and Rosemary Beach, is the strongest in both sales volume and average prices in Walton County. There were 235 lot sales, down 24 percent from 308 in 2013. The average price was up 57 percent, from $377,889 to $593,971. There were 583 single family and townhome sales, up 14 percent from 511 last year. The average price was $1,050,216, up 10 percent from $954,481 in 2013. Per square foot, the average price was $391, up 7 percent from $364 last year. Condominium sales up 23 percent, from 171 in 2013 to 210 in 2014. The average price of condos was up 18 percent from $415,460 in 2013 to $489,647 this year. The average price per square foot was $379, up 24 percent from $305 for 2013.
South of the Bay, North of Hwy 98, East of Sandestin
There were 150 vacant lot sales, down 4 percent from 156 in 2013. The average price was up 28 percent, from $87,156 to $111,483. There were 395 single family and condo sales, up 16 percent from 331 in 2013. The average price of a home was $249,341, down 3 percent from $257,346 last year. Per square foot, the average price was $127, up 2 percent from $124 last year.
Freeportto Niceville
The Freeport and Hwy. 20 area had increased sales and decreased prices. There were 94 vacant lot sales, up 18 percent from 80 in 2013. The average price of lots was down 25 percent from $57,548 to $43,277 this year. There were 205 single family home sales, up 23 percent from 167 last year. The average price of a home was down 12 percent, from $208,822 to $183,882 this year. Per square foot, the average price was $95, up 1 percent from $94 last year.
NorthWalton County, including DeFuniak Springs
There were 103 vacant lot and land sales this year, down 18 percent from 125 last year. The average price was up 5.7 percent from $48,164 to $50,901 this year. There were 255 single family sales, up 4 percent from 246 last year. The average price of a home was $94,650, down 4 percent from $98,879 in 2013. Per square foot, the average price was $57, slightly down from $58 in 2013.
Throughout the year, the number of sales and average prices fluctuated quite dramatically, but in the end, I believe we are enjoying a stable market. In 2015, we’ll hit some new high notes, and our real estate market will keep humming along.
Garner Chandler is a broker associate with 30A Local Properties in Grayton Beach. She is a member of the Counselors of Real Estate, of CCIM and holds the Resort and Second Property Specialist (RSPS) designation from the National Association of Realtors. She can be reached at garner@realestateon30a.com or 850-218-1020.