September real estate stats show mild improvement (Document)

real estate
FILE PHOTO | Northwest Florida Daily News
Published: Tuesday, October 30, 2012 at 11:38 AM.

ORLANDO — Northwest Florida’s real estate market continued its slow recovery last month as Okaloosa, Walton and Santa Rosa counties each showed signs of improvement mixed with some bad news.

Florida Realtors, the largest real estate organization in the state, recently released its market updates for September sales in the three counties. Okaloosa County’s single-family home sales rebounded slightly from August, but its condominium and townhome market continued to struggle.

“The local market is continuing its recovery, aided by cash buyers, investors and buyers who can get credit,” wrote Judi Rutland, president of the Emerald Coast Association of Realtors, in an email. “There are fewer listings on the market and levels are finally coming down to what’s considered a healthy market. Investors are buying up property to rent and fewer sellers are coming on to the market; both contribute to a lowering of inventory.

View the numbers for September

In Okaloosa County, 226 single-family homes were sold last month, a slight increase from September 2011 when 223 single-family homes were sold. The average sale price also rose slightly, from $219,634 last September to $227,440 last month.

Okaloosa County’s townhome and condo market was down for the second month in a row in September. The county had 55 units sell last month; that’s a decrease of 17.9 percent from September 2011 when 67 units were sold. The average sale price of $273,965 was virtually even with last year’s average.

Single-family home sales in Walton County increased compared to September 2011, but the townhome and condo market was down more than 25 percent.

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