November 2009 proved to us that the market continues to recover with increased sales volume. In fact November saw a 44% increase in transaction volume for combined residential on the 30A Market which includes the South Walton East and Santa Rosa Beach South sections of the Emerald Coast MLS. More positive news is the 38% decrease in new listings for November 2009 which shows a continued history of declining volume. Increased transaction volume and decreased inventory is the magic recipe for a market turn around. We are going to keep a very close eye on the market during the December through February months which are traditionally slow. In influx of new foreclosures in 2010 may have an impact on inventory, however most Bank Owned Properties typically get snatched up with multiple offers the moment they hit the market.
Market summary & analysis for South Walton East and South Santa Rosa Beach November 2009
Unfortunately all of the naysayers about our market continue to get a consistent and empirical reminder that the market is working through our bad times and buyers are snatching up real estate at a steady and consistent rate . We have seen a consistent trend of increased sales volume as the prices have reduced. In any buyers market, when prices fall sales volume increases. Year over year we are seeing a consistent 33% growth in transaction volume.
WaterColor homes had a slow month in November with only 3 homes sold:
47 Royal Fern Way was a short sale and sold for $660,000
306 Red Cedar Way was a Bank Owned property and sold for $765,000
110 W. Summersweet Lane was a Huff Homes pre-sale in WaterColor’s Crossings District for $499,000 or $224/sf in WaterColor!
The most expensive home currently listed in WaterColor is 1942 East Co Hwy 30-A in WaterColor’s Gulf District for $3,950,000
