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Posts tagged ‘real estate’

Dec 12

Market Analysis

Below is the Market Analysis I conducted for Sold Residential Single-Family Homes in South Santa Rosa Beach and East South Walton (areas 17 & 18) between the date ranges of 12/12/2009- 12/12/2010 (labeled 2010), and 12/12/2010-12/12/2011 (labeled 2011). December 12th was used because that was the date the analysis was conducted so sales information was not available for after Dec 12th, 2011. The analysis was conducted for two price ranges, $0-$400,000, and $400,001-$1,000,000. The first graph shows the difference from 2010 to 2011 for average price per square foot and average days on the market for both price ranges. As the legend shows the blue line is the average price per square foot for the upper price range, showing a decrease from $271.50 in 2010 to $266.50 in 2011. The green line is the average price per square foot for the lower price range showing a decrease from $171.23 to $162.04. The red line is the average days on the market for the upper price range, showing an increase from 235 days in 2010 to 288 days in 2011. The purple line is the average days on the market for the lower price range, showing a decrease of 241 days in 2010 to 205 days in 2011. Click on the graph to view it larger, then click again to see it full screen.

The graph below shows the difference in average sales price from 2010 to 2011 for the above mentioned price ranges ($0-$400,000 & $400,001-$1,000,000). As you can tell there are decreases in both price ranges from (12/12/2009-12/12/2010) labeled as 2010 and (12/12/2010-12/12/2011) labeled as 2011. The upper price range (the first set of bars) shows a decrease in average sales price from $641,229 to $633,812, a decrease of 1.17% from 2010 to 2011. The lower price range shows a decrease in average sales price from $277,956 to $274,913, a decrease of 1.10% from 2010 to 2011. This is not as large of a decrease in average sales price as some people might have thought, but remember there are many other variables to consider.

Nov 30

Housing in its “Fifth Inning”?

According to Barry Ritholtz and Aaron’s discussion in an article from Yahoo Finance titled “Home Prices Fall to 2003 Levels; When Will Housing Hit Bottom?” on Standard & Poor’s Case-Shiller home-price index numbers from September, they said housing is “maybe in its fifth inning”, using baseball terms to show the progress of the market. September prices in Standard & Poor’s Case-Shiller home-price index fell 0.6% from August, and are down 3.9% compared to last year. Also CoreLogic released its newest figures on the housing market which showed 22.1% (10.7 million) homes with mortgages were underwater in the third quarter. It is definitely a buyer’s market because sellers are forced to take steep discounts on their homes and interest rates for 30-year fixed rate mortgages are at historic lows.

Nov 18

October Sales #’s

October, 2011 Sales numbers are out for the Emerald Coast. These numbers are provided by the Emerald Coast Association of Realtors, and new construction is not included. North Walton County had 20 single family homes sell, up from 17 in October of 2010. This is an 18% increase! Yay. South Walton County had 47 single family homes sell, down from 57 in October 2010. This is an 18% decrease. The entire Emerald Coast (Crestview, Destin, Fort Walton beach, Navarre, Niceville, North Walton County, & South Walton County) had 237 single family homes sell in October 2011, up from 228 in October of 2010. This is a 4% increase! This is good news for Realtors , Buyers, and Sellers!

Nov 11

U.S Foreclosure Activity hit 7-month High in Oct

According to Florida Realtor News, Associated Press:

The U.S. saw a total increase of 10 % in October from September in the properties that received an initial default notice. Florida saw a much higher increase in just a month, seeing a 28% jump from September to October in homes receiving an initial default notice. In the U.S. a total of 230,678 homeowners received a foreclosure-related warning in October. This is up 7 %  from September, but down 31 % from October 2010.  Foreclosure auctions for the U.S. rose 7 % from September but increased by 35 % in Florida.

The article also states “Industry experts say a housing market turnaround isn’t likely to occur as long as there remains a glut of potential foreclosures hovering over the market, so October’s increase in foreclosure activity means a potentially faster revival for housing.”

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